• Posted on Thursday October 21, 2021
  • Created by Max Savoie

Implications of the FCA’s new ‘use it or lose it’ approach

Banks may be affected by the UK watchdog’s more proactive approach to cancelling regulatory permissions.


  • Posted on Wednesday October 20, 2021
  • Created by David Robinson

G-SIBs emerge from pandemic in good shape but new risks loom

The top 30 global systemically important banks’ diversification and scale helped them contend with Covid-19, but technological disruption poses a bigger challenge.


  • Posted on Tuesday October 19, 2021
  • Created by Justin Pugsley

Concerns linger over US dollar Libor transition

Most banks should have negligible Libor exposures by the end of this year. But pockets of concern remain [from Global Risk Regulator].


  • Posted on Wednesday October 13, 2021
  • Created by David Robinson

Social factors pose new risks for banks’ credit profiles

Regulatory efforts in the UK and Europe to encourage diversity and access to cash could have an impact on institutions’ operating models.


  • Posted on Friday October 08, 2021
  • Created by David Robinson

What risks does Evergrande pose for China's banking sector?

As the debt-laden Chinese developer stands on the brink of collapse, the fallout poses risks across the financial system.


  • Posted on Thursday October 07, 2021
  • Created by Justin Pugsley

Is Evergrande the new Lehman brothers?

Many are wondering if the world is facing a rerun of the 2007–2009 global financial crisis, as China’s Evergrande teeters on the brink of collapse. The answer is probably not, but the implications for China’s economy are profound. 


  • Posted on Monday September 20, 2021
  • Created by Justin Pugsley

SEC warns Coinbase over proposed yield product

The US Securities and Exchange Commission has threatened to sue the crypto exchange Coinbase if it launches its planned lending product [from Global Risk Regulator].


  • Posted on Friday September 17, 2021
  • Created by Kimberley Long

Fintechs look beyond unicorn status

Reaching a $1bn valuation is not the rare occurrence that the term 'unicorn' would suggest, as many Asian fintechs can attest to. As such, there is now a whole industry built around helping start-ups to achieve this goal. 


  • Posted on Wednesday September 15, 2021
  • Created by Peter Janssen

South-east Asia catches the sustainability bug

Although south-east Asia has arguably been slow off the mark in the adoption of green bonds, things are starting to change. 


  • Posted on Tuesday September 07, 2021
  • Created by Justin Pugsley

US getting act together over crypto

Crypto firms have been vocal about how the US’s damaging approach to their industry is stifling innovation to the benefit of Asian and European competitors. While change might be in the air, there is still plenty for the industry to worry about. 


  • Posted on Friday September 03, 2021
  • Created by Rachael Kinsella

Real-time data and shifting risk models in banking

From a customer perspective, banks have had a ‘good’ pandemic. How can banks build on that trust in the sector and its digital take up?


  • Posted on Wednesday September 01, 2021
  • Created by David Robinson

European bank M&A forecast to accelerate

The consolidation drive is expected to continue into 2022, with domestic deals taking the lion’s share of activity, according to report.


  • Posted on Friday August 27, 2021
  • Created by David Robinson

Testing the water: UK shared bank branch pilots

The 'hub model', which allows five banks to share one premises, is an example of how branch networks are evolving.


  • Posted on Friday August 20, 2021
  • Created by David Robinson

HSBC steps up Asia shift with Singaporean insurance acquisition

The UK bank’s pivot to the region faces challenges amid fierce competition and Western tensions with China.


  • Posted on Wednesday August 18, 2021
  • Created by David Robinson

Asian banks ramp up regional expansion drives

In the face of saturated local markets, banks in Japan, South Korea and Singapore are increasingly looking elsewhere in the region.


  • Posted on Monday August 16, 2021
  • Created by Marie Kemplay

Private capital markets come of age

With investors increasingly struggling to generate substantial returns in the public markets and a growing constituency with private fundraising needs, all the ingredients are in place for continued private capital market growth. 


  • Posted on Friday August 13, 2021
  • Created by David Robinson

UK mulls pros and cons of scrapping bonus cap

Critics argue that a cap on bankers’ bonuses is ineffective and outdated, but the issue remains controversial.


  • Posted on Thursday August 12, 2021
  • Created by Justin Pugsley

Jamaica begins ‘retail’ CBDC pilot

The Bank of Jamaica has distributed $1.5m in central bank digital currencies to authorised institutions [from Global Risk Regulator].


  • Posted on Wednesday August 11, 2021
  • Created by Anita Hawser

Teaming up to fight financial crime

Tackling money laundering, terrorist financing and other financial crime is a difficult chore for banks. However, public–private partnerships, technology solutions and new approaches are beginning to make a difference.


  • Posted on Wednesday August 11, 2021
  • Created by Syed Rahman

What does the FCA’s new approach to SPACs mean for banks?

New rules introduced on August 10 seek to attract more special purpose acquisition companies to the UK market.


  • Posted on Wednesday April 08, 2020
  • Created by Elyse Cuttler

H-ISAC Partnering with RiskRecon and Mastercard to Provide Complimentary Cybersecurity Rating Assessments for all Healthcare Organizations

Healthcare organizations will gain visibility into their known and unknown digital footprint assessed against thousands of cybersecurity checks Ormond Beach, Florida and Salt Lake City, Utah – April 8, 2020 – To aid healthcare organizations in protecting their environments during the COVID-19 crisis, the Health Information Sharing and Analysis Center (H-ISAC) announced today, in partnership …
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Healthcare organizations will gain visibility into their known and unknown digital footprint assessed against thousands of cybersecurity checks

Ormond Beach, Florida and Salt Lake City, Utah – April 8, 2020 – To aid healthcare organizations in protecting their environments during the COVID-19 crisis, the Health Information Sharing and Analysis Center (H-ISAC) announced today, in partnership with RiskRecon, a Mastercard company, H-ISAC members and all healthcare organizations worldwide can receive free cybersecurity rating assessments through December 31, 2020.

“In times when delivering patient care is critical, it is vital that healthcare organizations prepare themselves with any and all insight into their cybersecurity and risk posture,” said Denise Anderson, CEO, H-ISAC. “Today, we have joined forces with RiskRecon to help H-ISAC members and healthcare organizations worldwide assess their digital footprint for cybersecurity issues that are commonly exploited by hackers. I encourage all healthcare organizations worldwide to take advantage of this tremendous opportunity.”

With free access to the RiskRecon services and portal, healthcare organizations will receive continuous cyberhealth assessments along with actionable recommendations for how enterprises can strengthen their cybersecurity posture. Using passive techniques, RiskRecon helps enterprise organizations better understand and act on their enterprise cybersecurity health by continuously discovering their digital footprint and non-invasively assessing their security risk posture across 40 security criteria spanning thousands of security checks.

“The current pandemic is not only a serious health issue, but potentially a major cybersecurity risk,” said Ajay Bhalla, president, Cyber & Intelligence, Mastercard.  “Now, more than ever, it is critical that the healthcare sector is protected. This partnership gives them access to the insights that help safeguard their systems, staff and patients.”

H-ISAC is a global non-profit and member-driven organization offering healthcare stakeholders a trusted community and forum for coordinating, collaborating and sharing vital physical and cyber threat intelligence and best practices with each other. H-ISAC members and healthcare organizations globally can register for this free offering at https://www.riskrecon.com/healthcare-heroes. This program is offered at no cost, and no obligation through December 31, 2020.

“We have a front-row seat to the challenges the healthcare sector faces in keeping their systems operating securely in the face of rapidly evolving threats and organizational demands,” said Errol Weiss, H-ISAC’s Chief Security Officer. “This partnership makes available at no-cost the full, commercial-grade capabilities of RiskRecon. IT and information security professionals across the healthcare sector will gain new insights into their environment that will help them deliver on their mission to enable secure delivery of healthcare services.”

 

About H-ISAC 

Health-ISAC is a trusted community of critical infrastructure owners and operators within the global Health sector. Members share timely, actionable, relevant information including intelligence on threats, best practices and mitigation strategies. Working together, the health sector becomes more resilient worldwide.  Visit the website at www.h-isac.org to learn more.

 

About RiskRecon

RiskRecon, a Mastercard company, is the only continuous vendor monitoring solution that delivers risk-prioritized action plans custom-tuned to match your risk priorities. RiskRecon provides the world’s easiest path to understanding and acting on own enterprise and third-party cyber risk, enabling organizations to efficiently operate scalable, third-party risk management programs for dramatically better risk outcomes. Learn more about RiskRecon, request a demo or visit the website at www.riskrecon.com.

 

Contact:

Nina Korfias

fama PR for RiskRecon

(617) 986-5042

riskrecon@famapr.com

The post H-ISAC Partnering with RiskRecon and Mastercard to Provide Complimentary Cybersecurity Rating Assessments for all Healthcare Organizations appeared first on Global Hub.


  • Posted on Wednesday April 08, 2020
  • Created by Sarah Ely

Mastercard Commits $250 Million To Support Small Business’ Financial Security

Reaffirms Commitment to Small Business Owners and Their Employees By Committing Funds, Along With Cyber Security and Local Market Intelligence Solutions at No Cost  PURCHASE, NY – April 7, 2020 – Our local main streets have been amongst the hardest hit from the COVID-19 pandemic. To help address this challenge, Mastercard today announced a commitment …
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Reaffirms Commitment to Small Business Owners and Their Employees By Committing Funds, Along With Cyber Security and Local Market Intelligence Solutions at No Cost 

PURCHASE, NY – April 7, 2020 – Our local main streets have been amongst the hardest hit from the COVID-19 pandemic. To help address this challenge, Mastercard today announced a commitment of $250 million over five years to support small businesses in the United States and other markets where we operate. The announcement came during the virtual America CARES Small Business Relief event hosted at the White House on Tuesday afternoon.

As part of the commitment, the company will provide U.S. small business owners with access to necessary resources to help protect their business and their employees through free cyber vulnerability assessments and identity theft protection for the 28 million small businesses eligible to participate in the Small Business Administration’s Paycheck Protection Program. Leveraging its data and insights, Mastercard will provide U.S. small business owners access to its Local Market Intelligence™ solution in order to help them understand consumer spending trends in their communities.

“When our small businesses suffer our nation suffers, so it is incumbent upon all to ensure that we’re supporting the businesses who are the lifeblood of our economy and pillars of our communities,” said Michael Miebach, President of Mastercard. “We are leveraging our network, insights, technology and partnerships to deliver the resources small business owners need now to help them sustain their business as they quickly adapt to a new way of operating and evolved customer needs.”

In response to the 2017 Tax Cut and Jobs Act, Mastercard committed to put $500 million toward inclusive growth and created the Mastercard Impact Fund. The company’s $250 million commitment today includes financial, technology, product and insight assets to support the financial security and vitality of small businesses and their workers. This builds on the company’s longstanding commitment to financial inclusion, having brought half a billion individuals into the financial system over the last few years.

Many small businesses are quickly moving their activities online and with this comes increased exposure to cyber threats. To address this, Mastercard will help small business owners understand the cyber vulnerabilities of their system. Based on an initial assessment, Mastercard will partner with them to prioritize the issues that need to be fixed first, with specific guidance on how to repair critical vulnerabilities. The company is also offering identity theft protection for both small business owners and their employees to help them navigate any potential attacks. 

To help small business owners pivot operations and drive more effective marketing and promotions, Mastercard is making its Local Market Intelligence™ insights solution available through banks and fintechs. The solution is accessible to any small business who accepts card payments; it provides insight into local retail sales patterns, leveraging Mastercard’s anonymized data.

Both services will be offered at no cost for three months. 

“This crisis has been devastating to millions of small businesses, and I applaud the quick action by the Administration and private sector to provide assistance during this unprecedented time,” said Hector Barreto, The Latino Coalition Chairman and former U.S. Small Business Administrator. “It’s great to see companies like Mastercard leveraging their assets, technologies and reach to provide small businesses with tools that they need to secure their business and focus on their future.  I hope this serves as inspiration for others to do the same.”

“The challenges facing small business owners right now are many, including keeping their business afloat while, in many instances, supporting their employees through this crisis,” said Carolyn Rodz, Founder and CEO of Hello Alice. “If we’re going to navigate this epidemic, we need fast-acting, decisive support from both the private and public sectors who act collaboratively in helping to solve these challenges. We’re honored to be a part of Mastercard’s ongoing work to support the small business community and even more so to see them stepping up when times are hardest to ensure that we all come through this stronger on the other side.”

These commitments compliment the ongoing work Mastercard has undertaken to deliver on the unique needs of small business owners. This includes access to day-to-day business management tools and solutions available to the millions of Mastercard small business cardholders through partnerships with Intuit, Salesforce and Microsoft. Expanded offerings with these partners are available to aid small business owners navigating through this crisis. Click here to learn more about Mastercard small business cardholder benefits.

 

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

Mastercard media contacts:
Sarah Ely
sarah.ely@mastercard.com
+ 1 (914) 249 – 6714

Seth Eisen
seth.eisen@mastercard.com
+1 (914) 249 – 3153

The post Mastercard Commits $250 Million To Support Small Business’ Financial Security appeared first on Global Hub.


  • Posted on Sunday April 05, 2020
  • Created by Jandre Nieuwoudt

COVID-19 Therapeutics Accelerator Awards $20 Million in Initial Grants to Fund Clinical Trials

Researchers at three institutions in the U.S. and U.K. receive grants to advance studies of repurposed drugs and novel antibodies in preventing COVID-19 Purchase, N.Y., April 1, 2020: The partners in the COVID-19 Therapeutics Accelerator announced grants of $20 million to three institutions—the University of Washington, University of Oxford, and La Jolla Institute for Immunology—to …
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Researchers at three institutions in the U.S. and U.K. receive grants to advance studies of repurposed drugs and novel antibodies in preventing COVID-19

Purchase, N.Y., April 1, 2020: The partners in the COVID-19 Therapeutics Accelerator announced grants of $20 million to three institutions—the University of Washington, University of Oxford, and La Jolla Institute for Immunology—to fund clinical trials in order to identify highly potent immunotherapies for the COVID-19 pandemic. These grants mark the first investments to come from the COVID-19 Therapeutics Accelerator, a large-scale initiative launched by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard to speed the development of and access to therapies for COVID-19. Currently, there are no broad-spectrum antivirals or immunotherapies available to prevent or treat COVID-19.

“These grants to leading institutions in their fields will advance our understanding of how existing drugs and antibodies can contribute to addressing the pandemic we’re facing around the world,” said Mark Suzman, chief executive officer of the Bill & Melinda Gates Foundation. “These initial investments through the COVID-19 Therapeutics Accelerator will bring rigor to the study of these potential solutions. The way forward will be informed by sound science and shared data.”

In addition, newly announced funding from government and philanthropic donors has added to the Accelerator’s initial funding. The Chan Zuckerberg Initiative committed $25 million and the U.K. government committed £40 million last week. The additional funds will allow the Accelerator to continue making grants to study repurposed drugs and investigate biological compounds for activity against COVID-19. More funding is needed to move promising therapies through development and scale-up.

Studying repurposed drugs to prevent infection

Two of the newly announced trials will fund an investigation of two well-established drugs, hydroxychloroquine and chloroquine, that have known antiviral properties. These drugs have been used to treat malaria and a variety of rheumatological conditions for more than 50 years. The trials aim to determine whether the drugs are effective as pre- and post-exposure preventive therapy for COVID-19. While these drugs both show initial promise, rigorous scientific evidence is needed to make decisions on how, where and within which populations to use them in this pandemic.

The University of Washington will conduct a multi-site clinical trial in Western Washington and the New York City area, in collaboration with New York University’s School of Medicine, investigating whether hydroxychloroquine can effectively prevent COVID-19 in people already exposed to the infection. The trial will enroll up to 2,000 asymptomatic men and women who are close contacts of persons with confirmed or pending COVID-19 diagnoses. Participants will be randomly assigned to take hydroxychloroquine or a placebo over two weeks, and samples will be collected and tested daily to confirm new COVID-19 infections across the two groups. Sandoz, a Novartis division, has donated the hydroxychloroquine doses needed to conduct the study. Participant enrollment will begin in April, and results will be available in late 2020.

The Mahidol Oxford Tropical Medicine Research Unit (MORU) will lead a placebo-controlled prophylaxis study of chloroquine and hydroxychloroquine in preventing COVID-19 in at-risk health care workers, frontline staff, and other high-risk groups. At least 40,000 participants in Asia and Europe will be randomized to receive either chloroquine (East Asian countries), hydroxychloroquine (United Kingdom and Europe), or a matched film-coated placebo as daily prophylaxis for three months. The one-year project, known as COPCOV, aims to determine definitively whether these drugs can prevent COVID-19 and thus protect the vital health care workforce. Participant enrollment will begin in April and initial results will be available by the end of the year.

Nick Cammack, COVID-19 Therapeutics Accelerator Lead at Wellcome, said: “Investment in research is the world’s only exit strategy from COVID-19. Drugs, vaccines, and diagnostics are vital to saving lives, to ending this pandemic, and to preventing it from happening again. Now is the time to evaluate whether existing drugs will prove to be safe and effective. We urge others to join us in this collective global effort. Investing now, at scale, in the COVID-19 Therapeutics Accelerator is vital if we are to change the course of this pandemic.”

Advancing immunological therapies

In addition to funding drug trials, the Accelerator will provide $1.73 million to the La Jolla Institute for Immunology to establish a Coronavirus Immunotherapy Consortium, known as CoVIC. The effort will bring together scientists from around the world and enable them to share and evaluate candidate antibodies side by side in a blinded, multidisciplinary analysis to identify ideal therapeutic combinations. Antibody therapies can be used to protect frontline health care workers, contacts, and others who are exposed, as well as treat those who have already become sick.

“Today’s grants are an important next step in the Therapeutic Accelerator’s commitment to identifying and scaling treatments to combat COVID-19,” said Mike Froman, vice chairman of Mastercard. “In order to provide therapeutic solutions to this global pandemic, particularly for those most vulnerable, we need to speed up the research and development process through a collaborative funding effort by the private sector, philanthropic organizations, and governments. We welcome the participation of additional organizations that can contribute the resources needed to help bring an end to this crisis.”

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  • Posted on Thursday April 02, 2020
  • Created by Hyunjoo Kim

Mastercard enables higher contactless payments across Canada

This initiative comes in the wake of COVID-19 as health officials recommend social distancing and merchants encourage consumers to pay with contactless for a safer way to pay. TORONTO, April 2, 2020 – Mastercard today announced it is enabling the increase of contactless payment limits across Canada, as people look for safer ways to pay in …
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This initiative comes in the wake of COVID-19 as health officials recommend social distancing and merchants encourage consumers to pay with contactless for a safer way to pay.

TORONTO, April 2, 2020 – Mastercard today announced it is enabling the increase of contactless payment limits across Canada, as people look for safer ways to pay in the wake of the COVID-19 (coronavirus) pandemic. The move follows similar announcements made by Mastercard recently to champion contactless limit raises around the world, as health officials recommend social distancing and a growing number of merchants encourage consumers to pay with contactless to minimize interaction.

Mastercard has been championing the transition to contactless in Canada and globally for over 15 years and Canadians have embraced this fast, simple and secure way to pay. Canada has been recognized as one of the most cashless societies in the world1 and the majority of in-person Mastercard transactions in Canada are already tapped.2 With this change, this contactless adoption is expected to grow even further.

Mastercard is currently working with industry partners in Canada to make it easier to accept contactless payment up to $250 CAD. Once implemented by partners, this means that cardholders will be able to purchase more of what they need with the security, speed and touch-free experience of contactless payments at more merchants across Canada.

“Mastercard is proud to have played a leadership role in driving the adoption of contactless payments in Canada and we know that Canadians have embraced it as a preferred way to pay,” said Sasha Krstic, president of Mastercard in Canada. “With safety and social distancing top of mind for all Canadians, today’s announcement is one way we’re helping cardholders to shop easily, securely and with more peace of mind during this difficult time.”

Mastercard is also reminding merchants that signatures are not required on a receipt or electronic point of sale device for contactless payments, giving consumers comfort, safety and speed at checkout.

Mastercard’s effort to raise contactless limits is one of many initiatives the company is leading to support its employees, customers and cardholders. Most recently, the company announced a partnership with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19. Together, the companies committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments. In addition, Mastercard employees around the world have engaged in its employee donations match program to help communities globally.

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

For more information:

Sandra Benjamin
Vice President, Communications
Mastercard
Sandra.Benjamin@mastercard.com
416 365 5567

 

1 Economies Adopting the Most Cashless Technology, 2017, Forex Bonuses

Mastercard Transaction Data Q42019

The post Mastercard enables higher contactless payments across Canada appeared first on Global Hub.


  • Posted on Tuesday March 31, 2020
  • Created by Shamina Singh

Investing in Women Everywhere

Meet Moshrefa Banu, a 25-year-old quality inspector in the sewing section of a garment factory in Dhaka, Bangladesh.  She is married and has a young daughter who stays with Moshrefa’s parents in her home village while she works in the city. Moshrefa dreams of one day providing her family with a home of their own. Clouding her dreams are the everyday worries of balancing saving and spending …
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Moshrefa

Meet Moshrefa Banu, a 25-year-old quality inspector in the sewing section of a garment factory in Dhaka, Bangladesh.  She is married and has a young daughter who stays with Moshrefa’s parents in her home village while she works in the city. Moshrefa dreams of one day providing her family with a home of their own. Clouding her dreams are the everyday worries of balancing saving and spending — especially when she doesn’t have a secure place to save her money.

Moshrefa is among the more than 40 million workers employed in the garment industry in Asia. Women comprise the vast majority of front-line factory workers and are rarely promoted off of the line into management positions. On payday, women are paid in cash. They usually hand over a significant portion to the men in their lives to spend how they see fit, rather than use it to pay for the family-centered priorities the women may have.

Using digital technology to change the way workers get paid offers the opportunity to help shift household spending, advance financial inclusion and help people remain resilient during emergencies, which is critical now as workers around the world face growing economic uncertainty in the wake of the COVID-19 pandemic.

Recently, Moshefra started receiving her wages in a digital bank account, along with financial training using a gamified tech learning tool developed by BSR’s HERfinance program and the Mastercard Center for Inclusive Growth. “I didn’t know how to use [mobile money] until we had the [HERfinance] training,” said Moshrefa. “I can be more responsible with money now. I can save some of my wages in my mobile money account and can earn interest.”

Building on the lessons from HERfinance in Bangladesh, Mastercard has partnered with several major global brands, including Levi’s, VF Corporation and Marks & Spencer, to help empower garment workers financially and accelerate the transition to digital wages.

Our work in the garment industry is just one of the many ways Mastercard is working to help women thrive and stay resilient in the face of crisis. We’re pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations to build more inclusive economies.

This includes harnessing digital technology to permanently close the persistent 9% gender gap in financial inclusion. But first, we need technology that works for women.

In the U.S., Mastercard has worked with Grameen America to transition low-income women entrepreneurs to digital banking to help them stay competitive in an increasingly cashless society. Mastercard, in partnership with Citi and Apple, has provided support for Grameen America to digitally disburse loans and transform their back-end systems to scale their operations to reach more than 129,000 women.

Globally, we are collaborating with organizations like Accion and CARE to help micro and small businesses access the tools and services they need to thrive in the digital economy. Together, we aim to drive long-term financial security for these entrepreneurs in good times and bad.

Our commitment to increasing opportunities for women in the digital economy extends beyond financial inclusion to helping women and girls access the jobs of today and tomorrow.

Through our signature Girls4Tech program, we provide mentorship and education to encourage girls around the world to take interest and participate in STEM activities. So far, we have reached more than 800,000 girls in 27 countries, surpassing our goals.

As the COVID-19 pandemic continues to affect millions globally, we recognize that underserved populations will be among the hardest hit by the health and economic impacts of this global crisis.

This includes the increasing numbers of women who are on the front lines in the fight against the outbreak. Women make up the majority of healthcare workers, and are bearing much of the responsibility for caregiving as children stay out of school for months and relatives fall ill.

Together with the Bill & Melinda Gates Foundation and Wellcome, we have committed $125 million in seed funding to speed up the response to the COVID-19 epidemic by identifying, assessing, developing and scaling up treatments that are affordable and accessible to patients everywhere.

Our mission is to connect and power an inclusive digital economy that works better for women and creates limitless possibilities for us all. It’s a world that gives everyone the chance to unleash their potential.

 

The post Investing in Women Everywhere appeared first on Global Hub.


  • Posted on Tuesday March 31, 2020
  • Created by Erin Goodhand

Learning @ Home with Girls4Tech™ Connect

Mastercard Provides Free Online STEM Lessons to Children, Teachers and Parents Purchase, NY – March 30, 2020 – Today, Mastercard extended access to its signature STEM curriculum, Girls4Tech™, through a suite of new online, creative educational resources. The program has been designed to help parents and teachers engage and inspire kids, ages 8-12. Through the newly …
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Mastercard Provides Free Online STEM Lessons to Children, Teachers and Parents

Purchase, NY – March 30, 2020 Today, Mastercard extended access to its signature STEM curriculum, Girls4Tech™, through a suite of new online, creative educational resources. The program has been designed to help parents and teachers engage and inspire kids, ages 8-12.

Through the newly launched website Girls4Tech Connect, as well as through activities made in collaboration with our education partner Scholastic, teachers and parents can download lessons to help students learn about STEM topics, from the comfort of their homes or anywhere around the world.

These activities are built on global science and math standards – and incorporate Mastercard’s deep expertise in payments technology and innovation – to enable children to discover a range of STEM careers, such as Fraud Detective, Data Scientist and Software Engineer.

Now in its sixth year, Girls4Tech has engaged more than 800,000 students across the globe through inquiry-based activities and real-world challenges, all with the goal of inspiring more girls to pursue STEM careers and reduce the gender gap in these fields.

“We know that these are challenging times for parents and teachers on many fronts and hope that these learning resources are a fun way to engage and inspire kids about STEM while at home,” says Susan Warner, vice president of Community Engagement at Mastercard, and founder of Girls4Tech. “The easy access to the website enhances what we’ve done in so many workshops. We look forward to building on both efforts when it’s once again safe to gather in person.”

Beginning this week, new activities will be posted on a weekly basis at the Girls4Tech website, Facebook page and Twitter handle. Lessons are currently available in English, with additional Spanish and Chinese language content to follow in the coming weeks.

While all lessons are designed for students to work independently, materials are also available for teachers to guide online sessions.

Impact Highlights from the First Six Years

  • To date, Girls4Tech has reached more than 800,000 girls in 27 countries and on 6 continents.
  • The program has engaged more than 4,400 employee mentors worldwide.
  • Mastercard has partnered with Scholastic, Be Better China, Major League Baseball, Network for Teaching Entrepreneurship (NFTE), R&A and YCAB in Indonesia to further scale the program and offer STEM skills in unique ways to girls ages 8-16.
  • As technology skills evolve, a new curriculum was launched in 2019 to give students deeper exposure to the growing fields of cybersecurity and AI – Girls4Tech Cybersecurity & AI.
  • Girls4Tech programs also extend to girls ages 13-16 with Girls4Tech 2.0, as well as a 20-week coding program, Girls4Tech & Code for girls 8-10.

To learn more about Girls4Tech and access the online lessons, please visit Girls4Tech Connect.

# # #

About Mastercard, www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Contacts: 

Erin Goodhand

Email: erin.goodhand@mastercard.com

Tel: 646.659.8136

The post Learning @ Home with Girls4Tech™ Connect appeared first on Global Hub.


  • Posted on Monday March 30, 2020
  • Created by Casey Stavropoulos

COVID-19 Therapeutics Accelerator Awards $20 Million in Initial Grants to Fund Clinical Trials

Researchers at three institutions in the U.S. and U.K. receive grants to advance studies of repurposed drugs and novel antibodies in preventing COVID-19 PURCHASE, NY – March 30, 2020 – Today, the partners in the COVID-19 Therapeutics Accelerator announced grants of $20 million to three institutions—the University of Washington, University of Oxford, and La Jolla …
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Researchers at three institutions in the U.S. and U.K. receive grants to advance studies of repurposed drugs and novel antibodies in preventing COVID-19

PURCHASE, NY – March 30, 2020 – Today, the partners in the COVID-19 Therapeutics Accelerator announced grants of $20 million to three institutions—the University of Washington, University of Oxford, and La Jolla Institute for Immunology—to fund clinical trials in order to identify highly potent immunotherapies for the COVID-19 pandemic. These grants mark the first investments to come from the COVID-19 Therapeutics Accelerator, a large-scale initiative launched by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard to speed the development of and access to therapies for COVID-19. Currently, there are no broad-spectrum antivirals or immunotherapies available to prevent or treat COVID-19.

“These grants to leading institutions in their fields will advance our understanding of how existing drugs and antibodies can contribute to addressing the pandemic we’re facing around the world,” said Mark Suzman, chief executive officer of the Bill & Melinda Gates Foundation. “These initial investments through the COVID-19 Therapeutics Accelerator will bring rigor to the study of these potential solutions. The way forward will be informed by sound science and shared data.”

In addition, newly announced funding from government and philanthropic donors has added to the Accelerator’s initial funding. The Chan Zuckerberg Initiative committed $25 million and the U.K. government committed £40 million last week. The additional funds will allow the Accelerator to continue making grants to study repurposed drugs and investigate biological compounds for activity against COVID-19. More funding is needed to move promising therapies through development and scale-up.

Studying repurposed drugs to prevent infection

Two of the newly announced trials will fund an investigation of two well-established drugs, hydroxychloroquine and chloroquine, that have known antiviral properties. These drugs have been used to treat malaria and a variety of rheumatological conditions for more than 50 years. The trials aim to determine whether the drugs are effective as pre- and post-exposure preventive therapy for COVID-19. While these drugs both show initial promise, rigorous scientific evidence is needed to make decisions on how, where and within which populations to use them in this pandemic.

The University of Washington will conduct a multi-site clinical trial in Western Washington and the New York City area, in collaboration with New York University’s School of Medicine, investigating whether hydroxychloroquine can effectively prevent COVID-19 in people already exposed to the infection. The trial will enroll up to 2,000 asymptomatic men and women who are close contacts of persons with confirmed or pending COVID-19 diagnoses. Participants will be randomly assigned to take hydroxychloroquine or a placebo over two weeks, and samples will be collected and tested daily to confirm new COVID-19 infections across the two groups. Sandoz, a Novartis division, has donated the hydroxychloroquine doses needed to conduct the study. Participant enrollment will begin in April, and results will be available in late 2020.

The Mahidol Oxford Tropical Medicine Research Unit (MORU) will lead a placebo-controlled prophylaxis study of chloroquine and hydroxychloroquine in preventing COVID-19 in at-risk health care workers, frontline staff, and other high-risk groups. At least 40,000 participants in Asia and Europe will be randomized to receive either chloroquine (East Asian countries), hydroxychloroquine (United Kingdom and Europe), or a matched film-coated placebo as daily prophylaxis for three months. The one-year project, known as COPCOV, aims to determine definitively whether these drugs can prevent COVID-19 and thus protect the vital health care workforce. Participant enrollment will begin in April and initial results will be available by the end of the year.

Nick Cammack, COVID-19 Therapeutics Accelerator Lead at Wellcome, said: “Investment in research is the world’s only exit strategy from COVID-19. Drugs, vaccines, and diagnostics are vital to saving lives, to ending this pandemic, and to preventing it from happening again. Now is the time to evaluate whether existing drugs will prove to be safe and effective. We urge others to join us in this collective global effort. Investing now, at scale, in the COVID-19 Therapeutics Accelerator is vital if we are to change the course of this pandemic.”

Advancing immunological therapies

In addition to funding drug trials, the Accelerator will provide $1.73 million to the La Jolla Institute for Immunology to establish a Coronavirus Immunotherapy Consortium, known as CoVIC. The effort will bring together scientists from around the world and enable them to share and evaluate candidate antibodies side by side in a blinded, multidisciplinary analysis to identify ideal therapeutic combinations. Antibody therapies can be used to protect frontline health care workers, contacts, and others who are exposed, as well as treat those who have already become sick.

“Today’s grants are an important next step in the Therapeutic Accelerator’s commitment to identifying and scaling treatments to combat COVID-19,” said Mike Froman, vice chairman of Mastercard. “In order to provide therapeutic solutions to this global pandemic, particularly for those most vulnerable, we need to speed up the research and development process through a collaborative funding effort by the private sector, philanthropic organizations, and governments. We welcome the participation of additional organizations that can contribute the resources needed to help bring an end to this crisis.”

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About the COVID-19 Therapeutics Accelerator

The Therapeutics Accelerator is an initiative launched by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling up treatments. The partners are committed to equitable access, including making products available and affordable in low-resource settings. The COVID-19 Therapeutics Accelerator will play a catalytic role by accelerating and evaluating new and repurposed drugs and biologics to treat patients with COVID-19 in the immediate term, and other viral pathogens in the longer-term.

About the Bill & Melinda Gates Foundation

Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman and Co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett. 

About Wellcome

Wellcome exists to improve health by helping great ideas to thrive. We support researchers, we take on big health challenges, we campaign for better science, and we help everyone get involved with science and health research. We are a politically and financially independent foundation.

About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. Mastercard is the sole corporate donor to the Mastercard Impact Fund.

 

Media Contacts:

For the Bill & Melinda Gates Foundation: media@gatesfoundation.org

For Wellcome: Maggie Stratton +44(0)20 7611 8609, m.stratton@wellcome.ac.uk

For Mastercard: Casey Stavropoulos, casey.stavropolous@mastercard.com

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  • Posted on Thursday March 19, 2020
  • Created by Ajay Banga

A Letter to Our Community

To the Mastercard Community– COVID-19 has become part of our new reality. At best, we are faced with the new challenges of social isolation and figuring out how to use digital connections to stay close with our family, friends and colleagues and to help our children continue to learn. At worst, we are battling the …
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To the Mastercard Community–

COVID-19 has become part of our new reality. At best, we are faced with the new challenges of social isolation and figuring out how to use digital connections to stay close with our family, friends and colleagues and to help our children continue to learn. At worst, we are battling the virus directly, as well as the myriad complications that come with it. No matter where you are and what you are facing, know that our hearts go out to you.

Even when the world is enjoying general health and prosperity, there is a need to tap into our basic human decency as we approach our work and relationships. But right now – when the world has had to resort to extreme measures to tackle extreme circumstances – decency is even more important. It’s what’s going to give us a fighting chance at faster recovery and, eventually, growth on the other side.

Right now, when all the health and safety guidance is asking us to fundamentally alter the way we interact with each other, the desire to close ranks and only worry about our immediate area of influence is understandably strong. But the need for businesses to step up, reach beyond business-as-usual and activate new and perhaps creative ways to use their infrastructure and key skills to keep the economy and society going – that’s even stronger.

Mastercard’s core capability is enabling commerce. We’re going to keep doing that today, tomorrow and far into the future. But, we are also going beyond commerce to support our various communities, because that’s what we need to do in order to navigate this crisis together.

Our Workforce:
Our employees make Mastercard what it is today. Their resiliency and creative approach to challenges of all kinds are what will see us through this period and help us define new ways to help others. Their safety and security has always been and will continue to be at the top of our minds.   We’ve initiated several temporary policies according to guidance from regional authorities, international health organizations and our employee’s own concerns and comfort levels, including working from home, split working schedules, restricted or postponed travel, among others.

Our Partners and Clients:
We are managing our business, so we can be there for our partners today and even stronger for them when we all come out the other side. Our operations continue as normal, supported by a resilient core infrastructure and comprehensive business continuity plans. Furthermore, we continue to tap into our insights and capabilities to provide real-time responses and adaptability to protect against increased cyber risks and fraud threats, while also using enhanced analytics and test & learn capabilities to ensure our ideas and solutions are working as hard as they can for our clients. The bottom line: we’re here for you, no matter what this global event throws our way.

Our Account and Cardholders:
Whether you are ordering quarantine supplies online in Vancouver or a shopkeeper trying to keep stocked for your own customers’ needs in Kampala, we are maintaining our operations and network to support the ways people need to pay for things however, whenever, wherever and whatever the circumstances. We are here to provide you with the safe, simple and seamless experiences you expect from us every other day.

Our Society:
In times like these, all efforts matter and we will continue to look for ways to help – big and small. We are partnering with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19.  Together, we have committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments. We invite you to join our effort to find a solution to this unprecedented situation by giving to the Covid-19 Therapeutics Accelerator Fund. We are also continuing to match employee donations to relief efforts and have contributed to funds like the China Women’s Development Foundation to support the initial efforts in Wuhan. Through our partnership with Scholastic, we are making our Girls4Tech online curriculum for grades 3 – 7 available to anyone who wants to download it. And, most recently, we have donated 25,000 respirator masks to NYC hospitals.

At Mastercard, our focus has always been on helping to build a more connected world, and in today’s environment, this is more important than ever. We remain committed to that cause and are moving forward in a way that supports human safety and global efforts for sustainability now and recovery in the future. We are in this with each and every one of you for the long haul and I am confident that, as long as we keep plugging in to our basic human decency, we will emerge from this and find new strengths and growth we never imagined.

Sincerely,
Ajay Banga

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  • Posted on Wednesday March 18, 2020
  • Created by Alexandria Brown

Designing for Women, One Product at a Time

By Bunita Sawhney Women control upwards of 80% of household buying decisions, yet too much of our world was designed without their needs in mind, and without them involved. This results in missed opportunities that hold us all back. The solution is clear: having women—and their perspectives—firmly represented in product development leads to better products for …
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By Bunita Sawhney

Women control upwards of 80% of household buying decisions, yet too much of our world was designed without their needs in mind, and without them involved. This results in missed opportunities that hold us all back.

The solution is clear: having women—and their perspectives—firmly represented in product development leads to better products for women, for everyone.

Women entrepreneurs and their ingenuity are central to this. They contribute over $3 trillion to today’s economy and open businesses at double the rate of men, yet only 3 percent of global venture dollars are invested in female-only funded startups. Mastercard Start Path, our award-winning startup engagement program that provides participants unparalleled access to Mastercard’s technology, solutions expertise and partner network, is helping to change that.

Meet Joanna Bichsel, an entrepreneur and Start Path member. Joanna founded Kasha, an e-commerce company that delivers health and beauty products directly to women in Kenya and Rwanda, after noticing that women didn’t have access to the feminine products and contraceptives they needed. She developed products that are delivered in discreet boxes; women can pay with their digital wallets using any type of mobile phone, no internet or smart phone required.

Just last year, we added eight female-founded startups to Start Path. And, half of the program’s participants overall are women-founded, -funded or led. We’re helping them better design and scale solutions around the world. So far, our female-founded/-led start-ups have raised nearly $1 billion in capital investment.

“Being part of Start Path is like having an internal champion immediately within Mastercard, a relationship that usually takes years to build with other corporations,” says Joanna. “It opens doors that were previously unknown to me.”

Within Mastercard, we’re taking a similar hard look at ensuring our solutions are designed for and by women. Recently, we established inclusivity best practices within our product development lifecycle—including research and testing—to remove unconscious bias and ensure the unique priorities of women are addressed.

For instance, the vast majority of women are seeking to protect and prioritize their families – 85% of women agree that this is an important personal value, according to the Kantar Global Monitor. One way that we’re addressing this need is through access to key services. We’re currently running a pilot program with select card issuers in Latin America that provides cardholders access to a low-cost, app-based healthcare service. With financial independence an important component of empowering women, we’re also sponsoring programs like Path to Priceless to connect women business owners with resources such as learning modules and mentorship.

This is just the beginning.

To reach more women across more geographies, we’re helping our customers expand inclusivity in their own product development efforts. We’ve launched the “Women Sparks” incubation series  to co-create and design solutions that address a well-defined business challenge and, ultimately, stand to transform women’s access to financial services.

Connecting people to possibilities is fundamental to what we do at Mastercard. I’m honored to be part of this work

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  • Posted on Thursday March 12, 2020
  • Created by Jen Langione

Mastercard and Samsung Partner to Enable Digital Inclusion

PURCHASE, NY – March 12, 2020 – Mastercard today announced a global partnership with Samsung to enable digital access to consumers and small businesses in emerging markets through its extensible Pay on Demand platform. Mastercard’s Pay on Demand platform is designed to accelerate digital inclusion by bringing together financial institutions, original equipment manufacturers and telcos …
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PURCHASE, NY – March 12, 2020 – Mastercard today announced a global partnership with Samsung to enable digital access to consumers and small businesses in emerging markets through its extensible Pay on Demand platform.

Mastercard’s Pay on Demand platform is designed to accelerate digital inclusion by bringing together financial institutions, original equipment manufacturers and telcos to holistically solve issues that have limited device financing in emerging markets. In line with Mastercard’s principles for data responsibility, the solution allows consumers to access devices in a pay-as-you-go model.

“At Mastercard, we see a connected world where opportunity and prosperity are possible for everyone, everywhere,” said Jorn Lambert, executive vice president, Digital Solutions, Mastercard. “The Pay on Demand platform enables us to deliver on that vision and foster financial inclusion, giving consumers an opportunity to participate in digital commerce. By combining Samsung’s device management and security expertise with Mastercard’s innovative technology, we are creating an ecosystem that can deliver measurable, positive impact to the communities we serve.”

Mastercard is collaborating with key players in the ecosystem to drive a new wave of inclusion through connectivity and smart devices, creating a digital economy that works for everyone. To accomplish this, the Pay on Demand platform consists of four components:

  • Lending Marketplace: Brings together lenders who provide consumers with access to affordable device financing
  • Security: Leverages Samsung’s embedded Knox security platform to ensure the integrity and safety of consumer data and transactions
  • Data: Provides tools for consumers to analyze and build their credit history from usage data
  • Payment: In partnership with telcos, Mastercard provides an opportunity for consumers to obtain virtual card numbers that can be used to pay for their device and make transactions everywhere Mastercard is accepted.

“Our vision is to inspire the world and shape the future through transformative ideas and technologies,” said KC Choi, executive vice president, Global Mobile B2B, Samsung. “This partnership with Mastercard is our way of making that future available to everyone by helping to close the digital divide, especially in emerging economies and countries.”

The platform, built by Mastercard Labs, will be launched with the Samsung Knox team in the Middle East and Africa region in early 2020 and extend to additional regions later this year.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Communications Contact                                                                                                         

Jennifer Langione

917-408-2941

jennifer.langione@mastercard.com

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  • Posted on Wednesday March 11, 2020
  • Created by Kelly Joscelyne

Connecting Women to Priceless Possibilities at Mastercard

When Angel Roth left the workplace 13 years ago, she took her skills in IT financial services with her. She approached parenting with the same calm outlook she had brought to the workplace: tackling large tasks by breaking them down into manageable pieces, checking each step off along the way and encouraging her children and …
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When Angel Roth left the workplace 13 years ago, she took her skills in IT financial services with her. She approached parenting with the same calm outlook she had brought to the workplace: tackling large tasks by breaking them down into manageable pieces, checking each step off along the way and encouraging her children and husband to do the same.

As her kids edged toward their teens, she thought about bringing those skills back to the workplace. But like many people who’ve taken a career hiatus, she feared her skills were no longer relevant. “There was a lot of fear and self-doubt,” she admits. “I have this huge gap in my resume. I did fill that time with a lot of things, but how do you even put those experiences into a resume?”

In 2019, she found a new home for those skills at Mastercard, thanks to our Relaunch Your Career program, which encourages people like Angel – mid-level professionals who took a career break – to return to the workforce. The immersive, 16-week training program allows workers to simultaneously learn all about how Mastercard operates and take on a project immediately. She was surrounded by mentors, a “buddy” to support her from within the company, a manager who helped with her transition and various top executives.

Angel Roth, HR Unified Technologies

Angel Roth, HR Unified Technologies

Today, Angel applies her incredible organizational skills to keeping our IT teams operating efficiently. The diversity of her experiences helps us unlock new ideas that ultimately build a stronger company.

There are countless talented people, like Angel, who’ve spent time away from the workplace. One of our jobs, here at Mastercard, is to help eliminate the barriers that prevent them from seizing what’s possible. Since its debut in 2017, Relaunch Your Career has expanded to 19 locations, including India, Canada, Brazil, Russia, Kenya and the U.K.

That’s why we’re constantly rewriting our own playbook to ensure we’re supporting our people and building a globally dynamic, engaged and balanced team. We’re putting policies and programs in place that ensure people are empowered to reach their greatest potential.

Last week, we achieved an important milestone in pay equity with women at our company earning $1.00 to every $1.00 earned by men – equal pay for equal work.

We have a generous parental leave policy for both moms and dads and encourage all new parents to use that leave, so it’s a common and accepted practice.

We have formal and informal mentorship programs, and just this month, we kicked off a new program for junior-level women at Mastercard.

We also have an incredible 40 chapters of our Women’s Leadership Network – a group that create opportunities for female leaders to collaborate, network and grow.

It’s no surprise that Angel feels she benefited most from the support network that surrounded her when she walked through our doors. In addition to her formal mentors, she participated in a weekly discussion group with five fellow Relaunch Your Career participants. “It gave us the opportunity to get to know each other and talk about our feelings and experience,” she says. “It was amazing because I knew I wasn’t going through this journey alone.”

Nor will she be alone as her career progresses.

At Mastercard, women make up 39 percent of our global workforce and half of our new hires. We expect this to continue to grow through development programs such as Women Who Lead and policies that ensure diversity in our hiring, candidate slates and more. Driving toward gender balance is not only the right thing to do, it’s the right thing for our business.

For me, there’s no doubt: a world that works better for women creates limitless possibilities for us all.

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  • Posted on Tuesday March 10, 2020
  • Created by Seth Eisen

Bill & Melinda Gates Foundation, Wellcome and Mastercard Launch Initiative to Speed Development and Access to Therapies for COVID-19

COVID-19 Therapeutics Accelerator will coordinate R&D efforts and remove barriers to drug development and scale-up to address the epidemic SEATTLE, March 10, 2020 – The Bill & Melinda Gates Foundation, Wellcome and Mastercard today committed up to $125 million in seed funding to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and …
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COVID-19 Therapeutics Accelerator will coordinate R&D efforts and remove barriers to drug development and scale-up to address the epidemic

SEATTLE, March 10, 2020 – The Bill & Melinda Gates Foundation, Wellcome and Mastercard today committed up to $125 million in seed funding to speed-up the response to the COVID-19 epidemic by identifying, assessing, developing, and scaling-up treatments. The partners are committed to equitable access, including making products available and affordable in low-resource settings. The COVID-19 Therapeutics Accelerator will play a catalytic role by accelerating and evaluating new and repurposed drugs and biologics to treat patients with COVID-19 in the immediate term, and other viral pathogens in the longer-term. Currently there are no broad-spectrum antivirals or immunotherapies available for the fight against emerging pathogens, and none approved for use on COVID-19.

The Gates Foundation and Wellcome are each contributing up to $50 million, and the Mastercard Impact Fund has committed up to $25 million to catalyze the initial work of the accelerator. The Gates Foundation’s funding is part of its $100 million commitment to the COVID-19 response announced last month.

“Viruses like COVID-19 spread rapidly, but the development of vaccines and treatments to stop them moves slowly,” said Mark Suzman, chief executive officer of the Bill & Melinda Gates Foundation. “If we want to make the world safe from outbreaks like COVID-19, particularly for those most vulnerable, then we need to find a way to make research and development move faster. That requires governments, private enterprise, and philanthropic organizations to act quickly to fund R&D.”

The COVID-19 Therapeutics Accelerator will work with the World Health Organization, government and private sector funders and organizations, as well as the global regulatory and policy-setting institutions. The Accelerator will have an end-to-end focus, from drug pipeline development through manufacturing and scale-up. By sharing research, coordinating investments, and pooling resources, these efforts can help to accelerate research. This kind of collaboration was a key lesson from the 2014 Ebola outbreak. By providing fast and flexible funding at key stages of the development process, the Accelerator will de-risk the pathway for new drugs and biologics for COVID-19 and future epidemic threats, ensuring access in lower-resource countries.

The COVID-19 Therapeutics Accelerator will operate jointly as an initiative of the funders, drawing on expertise from inside and outside their organizations. The Accelerator will pursue several aspects of the development cycle to streamline the pathway from candidate product to clinical assessment, use, and manufacturing. To identify candidate compounds, the Accelerator will take a three-pronged approach: testing approved drugs for activity against COVID-19, screening libraries of thousands of compounds with confirmed safety data and considering new investigational compounds and monoclonal antibodies. Drugs or monoclonal antibodies that pass initial screening would then be developed by an industry partner. The biotech and pharmaceutical industries will be critical partners, bringing their compound libraries and clinical data to the collaboration and lending commercialization and other expertise that will be required to scale up successful drugs and monoclonal antibodies. In parallel to the development of the COVID-19 drug pipeline, the Accelerator will work with regulators to align criteria and develop manufacturing capacity with industry. An accelerated pathway to bringing effective treatments to patients is around one year for products that have current regulatory approval or candidates with existing clinical data. The timeline would be longer for compounds further upstream in the pipeline that have limited existing clinical data.

Dr. Jeremy Farrar, director of Wellcome said, “This virus is an unprecedented global threat, and one for which we must propel international partnerships to develop treatments, rapid diagnostics, and vaccines. Science is moving at a phenomenal pace against COVID-19, but to get ahead of this epidemic we need greater investment and to ensure research co-ordination. The Therapeutics Accelerator will allow us to do this for potential treatments with support for research, development, assessment, and manufacturing. COVID-19 is an extremely challenging virus, but we’ve proved that through collaborating across borders we can tackle emerging infectious diseases. We must strive to strengthen efforts in the face of COVID-19, and in doing so, continue to make sure advances are accessible and affordable to all. Investing now, at scale, at risk and as a collective global effort is vital if we are to change the course of this epidemic. We welcome others to join us in this effort.”

While antiviral drugs are approved to lessen the severity of seasonal flu and treat HIV, among other viral diseases, none have demonstrated efficacy against the current epidemic. One reason for the lack of effective treatments is that products may not have an immediate market, which can slow or prevent their research and commercial development. The COVID-19 Therapeutics Accelerator is designed to help by bringing together resources and expertise to lower the financial and technical risk for academia, biotech, and pharmaceutical companies, while ensuring that these products are accessible and affordable to people in low-resource settings. The expertise of pharmaceutical companies will be critical in identifying, researching, and commercializing successful drugs.

“We’re proud to join this crucial effort to combat COVID-19 in furtherance of our commitment to inclusive growth,” said Mike Froman, vice chairman of Mastercard. “This global challenge not only represents a risk to the health and safety of populations all over the world, but also poses a potential disruption to the economic vitality of millions of people, businesses, and organizations worldwide. Our experience with financial inclusion shows us the importance of building a network of parties who bring not only their capital, but complementary assets and skill sets to the table, and we welcome other partners concerned about inclusive growth to join this effort.”

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About the Bill & Melinda Gates Foundation
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman and Co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.

About Wellcome
Wellcome exists to improve health by helping great ideas to thrive. We support researchers, we take on big health challenges, we campaign for better science, and we help everyone get involved with science and health research.  We are a politically and financially independent foundation.

About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. Mastercard is the sole corporate donor to the Mastercard Impact Fund.

Media Contacts:
For the Bill & Melinda Gates Foundation: media@gatesfoundation.org
For Wellcome: Maggie Stratton +44(0)20 7611 8609, m.stratton@wellcome.ac.uk
For Mastercard: Casey Stavropoulos +1 914 414 5291, casey.stavropolous@mastercard.com

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  • Posted on Thursday March 05, 2020
  • Created by Margaret Curran

Mastercard Commits to Reaching 1 Million Women Entrepreneurs Through Path to Priceless Initiative

Company Curates Advisement, Mentorship and Community to Connect Women to Necessary Resources PURCHASE, NY – March 5, 2020 – A desire to problem-solve lies at the heart of young women entrepreneurs and this desire starts at a young age. In fact, a recent study* commissioned by Mastercard found that fifty two percent of Gen Z …
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Company Curates Advisement, Mentorship and Community to Connect Women to Necessary Resources

PURCHASE, NY – March 5, 2020 – A desire to problem-solve lies at the heart of young women entrepreneurs and this desire starts at a young age. In fact, a recent study* commissioned by Mastercard found that fifty two percent of Gen Z and 44 percent of Millennial women cited being able to help others as an important factor in determining their future or current career path. Mastercard knows that women have the ideas and passion that can Start Something Priceless, but sometimes the path to actualizing those ideas isn’t easy, especially when starting your own business.

To reaffirm its commitment to women entrepreneurs, Mastercard is launching Path to Priceless to shine a light on their journey and provide a curated calendar of physical and digital advisement and mentorship opportunities, extending its partnership with Create & Cultivate, and introducing the Her Ideas community in partnership with Hello Alice, where members can access learning modules, tools and more.lightbulb_FSME

“Women small business owners are already making their mark despite the challenges before them, and it’s our intention to clear that path so that their ideas can reach their full potential,” said Cheryl Guerin, executive vice president of North America Marketing & Communications for Mastercard. “While we’re starting with a goal of 1 million owners, we’re creating opportunities for all. Our hope is that any woman owner who can benefit from the advisement, mentorship and community we are bringing to life will join us.”

The Path to Priceless: Amplifying the Impact of Women Business Owners

Access to mentorship programs and connecting with like-minded owners were top cited means of advancing female entrepreneurs, according to Mastercard research. To help women business owners continue their positive impact on the community, additional resources are now available through:

  • Advisement and Mentorship IRL with Create & Cultivate: Working with some of the most forward-thinking women and motivational entrepreneurs, Mastercard and Create & Cultivate are sparking a 365-day conversation to empower female small business owners through conferences, panel discussions, networking opportunities and one-on-one mentorship. Create & Cultivate event details can be found here.
  • Her Ideas Community Launch: In partnership with Hello Alice, a digital platform helping underserved communities build and grow their business, Mastercard is launching a community dedicated to delivering networking opportunities, as well as access to tools and learning catered to the specific needs of women business owners. Join the Her Ideas Community here.

“As a founder myself I know all too well the challenges that face you when you’re trying to build a grow a business and to have a brand like Mastercard showing up for all of us and committing in such a significant way to providing access to what our community needs is tremendous,” said Jaclyn Johnson, CEO and founder of Create & Cultivate.
Capital and mentorship are critical to ensure business for all,” said Carolyn Rodz, CEO and Co-Founder of Hello Alice. “By partnering with Mastercard, we can bring the power of Hello Alice together with their vast insights and resources to create a place that owners can come to when they have questions, need advisement or want to hear from others forging a similar path.”

Mastercard and Creative & Cultivate will continue our mission to bring real, actionable insights and solutions to women business owners across the country. Follow @Mastercard to join the journey and meet business owners driving a real impact.

Mastercard Commitment to Women

At Mastercard, we believe too much of our world was designed without women in mind – and without women involved. Even today, inequality and exclusion still hold women back. We’re tackling this problem head on. After all, it’s what Priceless is all about – unlocking the potential in every person across all parts of their life.

We’re committed to leading the charge in reshaping the way our world is designed, coded and constructed by bringing diverse perspectives to the table to unlock powerful ideas that open up our industry and the world’s possibilities to women. The partnerships with Create & Cultivate and Hello Alice reinforce how we’re championing the people, businesses and innovations that are transforming the way our world works.

*About the Generational STEM Study

Mastercard commissioned a U.S.-based study to better understand how perceptions and attitudes of science, technology, engineering and mathematics (STEM) differ across generations and gender. In addition to STEM-based topics, the survey investigated challenges and motivations for pursuing STEM college majors and career paths. An online survey of 3,803 respondents based in the United States, with an oversample of boys and girls from age 7 to 17 (n=100 for boys and n=100 for girls in each age group 7-9, 10-12, 13-15, 16-17) and n=3,000 census-representative of age, gender, ethnicity, race and income for males and females 18+, was conducted from September 6th to September 16th, 2019. The total sample was nationally representative of region and ethnicity with a 2% margin of error. The study will be launched in full later this month.

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

About Create & Cultivate

Create & Cultivate is the leading online platform and nationwide conference for women looking to create and cultivate the career of their dreams. Led by CEO and founder Jaclyn Johnson, Create & Cultivate has been bringing women together since 2012.  The one-day conference gathers the best in the business including CEO’s, content creators, and celebrities like Jennifer Hudson, Meghan Markle, Kim Kardashian and Nicole Kidman.  Through their online platform, curated events, and partnerships, Create & Cultivate offers a 365-day conversation around entrepreneurship and works to advance inclusive conversations to empower women.

About Hello Alice

Alice (helloalice.com) helps all founders launch and grow their businesses. A free multi-channel platform, Alice guides business owners by providing funding, networks, and services. Through supporting hundreds of thousands of companies a day in all 50 states and around the world, Alice is building the largest community of owners in the country, while tracking data and trends to increase the success rate for entrepreneurs.

Co-headquartered in Houston and San Francisco, and founded by Carolyn Rodz and Elizabeth Gore, we believe in business for all by providing access to all owners, including women, people of color, veterans, and everyone with an entrepreneurial spirit.

 

Mastercard media contacts:
Sarah Ely
sarah.ely@mastercard.com
(914) 249 – 6714

Margaret Williams
margaret.williams@mastercard.com
(914) 249 – 2926

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  • Posted on Monday March 02, 2020
  • Created by Margaret Curran

Mastercard and Diane von Furstenberg Partner to Deliver Curated Shopping Experience for Consumers and Insights for Store Associates

Partnership to also integrate brands shared focus on women’s empowerment efforts PURCHASE, NY – March 2, 2020 –Mastercard and Diane von Furstenberg today announced a new partnership focused on enhancing the in-store experience for consumers, as well as delivering intelligent insights to store associates through the integration of technology that provides informed product recommendations, store …
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Partnership to also integrate brands shared focus on women’s empowerment efforts

PURCHASE, NY – March 2, 2020 –Mastercard and Diane von Furstenberg today announced a new partnership focused on enhancing the in-store experience for consumers, as well as delivering intelligent insights to store associates through the integration of technology that provides informed product recommendations, store performance analytics, as well as digital discovery and engagement through QR codes. The effort will also encompass a shared focus on women’s empowerment through both the DVF InCharge platform and the Mastercard Her Ideas Start Something Priceless initiative.

“Connecting is really important, especially if you want to be a brand that stands out to consumers today,” said Diane von Furstenberg. “With this technology, DVF has the unique opportunity to bring our customers on a journey, allowing them access to content that brings them closer to our brand story. We are thrilled to partner with the team at Mastercard to create a truly unique experience within our flagship store.”

Mastercard Technology Empowers Storytelling Behind People & Product

Consumers today want to be immersed in the shopping journey in an innovative manner that provides them value and benefit far beyond the purchase itself. With the integration of Mastercard digital retail technology at DVF, visitors will be taken on a storytelling journey sharing details on the curation of her gallery and the featured women, as well as insights into the products and designs showcased. This includes:

  • A Picture Says a Thousand Words: Those exploring the in-store art gallery can leverage computer vision technology to learn of the custom curated stories on the selection of the woman and their contributions spotlighted in the DVF gallery.
  • Shoppers Get the Full Story: Discovery within the store based on QR codes shared throughout the store enable shoppers to discover the story behind the print, design and recommended styling methods, as well as additional product information.
  • Intelligent Tools for Store Associates: Store associates are given visibility on overall performance against specific commercial KPIs, object recognition via device to more easily share product information, and recommendations based on time of day, day of week, product demand and other variables

“We’re excited to be partnering with an iconic brand like DVF to further drive the dialogue around women’s empowerment and leverage our latest technology to make every in-store interaction unique and meaningful,” said Linda Kirkpatrick, president of U.S. Issuers, Mastercard.

When Women are Empowered to be In-Charge, Their Ideas Start Something Priceless

Together, DVF and Mastercard will kick off their partnership as Diane Von Furstenberg opens the studio doors for their 3rd annual celebration of International Women’s Day. With an open invitation to the community, this day-long series of events and panel discussions provide a platform for empowering conversation from female thought leaders including Diane herself. Cheryl Guerin, executive vice president of North America Marketing and Communications at Mastercard will speak on a panel at the event and a full schedule can be found here: www.dvf.com/events.

From there, the partnership will continue to drive dialogue and engagement through The InCharge Conversations presented by Mastercard which will include an event series to be held at the DVF Flagship throughout the year, as well as the launch of the DVF InCharge podcast on Spotify. The effort will amplify female voices across important topics including entrepreneurship, career, philanthropy, health, family, and finances, while also providing networking and mentorship.

As part of the larger partnership, Mastercard is honored to welcome Diane von Furstenberg to Mastercard’s Women Business Advisory Council, aimed at advancing the mission of women founders across industries with the support, mentorship, and insights they deserve.

Mastercard will bring other advisory council members to the In-Charge stage to address the challenges and solutions women entrepreneurs face. This partnership is part of Mastercard’s ongoing commitment to women small business owners and entrepreneurs, continuing to spotlight their ideas that are driving impact.

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

Mastercard media contacts:
Sarah Ely
sarah.ely@mastercard.com
(914) 249 – 6714

Margaret Curran
margaret.curran@mastercard.com
(914) 249 – 2926

 

 

 

 

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  • Posted on Monday March 02, 2020
  • Created by Ann Cairns

For Women, For Everyone: Mastercard’s Commitment to Gender Balance

Too much of our world was designed without women in mind –and without women involved. Even today, inequality and exclusion still hold women back. That’s why Mastercard is pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations that are transforming the way our world works. First, we’re focused on how …
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Too much of our world was designed without women in mind –and without women involved. Even today, inequality and exclusion still hold women back. That’s why Mastercard is pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations that are transforming the way our world works.

First, we’re focused on how we support our own people.

It’s essential for our business that we foster a workplace where all employees feel valued, respected and empowered to reach their greatest potential. That includes equal pay for equal work.

I’m incredibly pleased to share that we’ve achieved an important milestone on gender pay equity. Women at our company earn $1.00 to every $1.00 men earn, based on our latest analysis of employees at the same level, doing the same role.

And, today, we’re sharing that the median pay for women globally is 92.2 percent of the median for men.1 These numbers speak to the work that lies ahead for us: Our aim is parity across all measures.

We’re committed to cultivate diverse talent across the company as we build a globally dynamic, engaged and balanced team.

Second, we look at how we impact the market. 

Over the course of this month—and beyond—you’ll hear from Mastercard leaders on new and existing programs we’re implementing to meet the unique needs of women. This includes our continued commitment to female small business owners.

Today, only 3 percent of global venture dollars are invested in female-only funded start-ups. Through our partnerships and programs like StartPath, we’re pushing our network of investors and angels to help increase the number of female founders and give them path to scale. Our research shows that when women work, economies grow. So far, our female-founded and -led start-ups have raised nearly $1 billion in capital investment.

Third, we’re focused on how we drive change in society.

When I started my career, I was often the only woman in the room. Building the next generation of female leaders is essential for our company and for our world. From partnerships with organizations like the 30% Club; the Financial Alliance for Women; Gavi, the Vaccine Alliance; and USAID to our Girls4Tech commitment to educate one million girls in technology, cybersecurity and AI by 2025, we’re bringing diverse perspectives to the table. We look forward to sharing a new research initiative around overcoming the gender gap in technology.

Connecting people to possibilities is fundamental to what we do at Mastercard. It’s what Priceless is all about –unlocking the potential in every person across all parts of their lives.

 

 

[1] Pay equity figures based on action taken for the available employee population as of September 1, 2019. Median pay figures as of March 1, 2020. The median pay difference is determined by lining up the compensation for all people at the company and then taking the median (midpoint) in the range of what all men earn and comparing it to the median (midpoint) in the range of what all women earn.

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  • Posted on Saturday February 29, 2020
  • Created by Michael Fraccaro

Our Shared Success: Black History Month & Beyond

By Michael Fraccaro, chief people officer and executive sponsor of LEAD, and Ron Green, chief security officer and executive advisor to LEAD Our success is driven by our people. And, more inclusive businesses are more successful businesses. That includes Mastercard. With a diversity of viewpoints, we can be more creative, innovative and adaptive to our changing world—ensuring …
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By Michael Fraccaro, chief people officer and executive sponsor of LEAD, and Ron Green, chief security officer and executive advisor to LEAD

Our success is driven by our people.

And, more inclusive businesses are more successful businesses. That includes Mastercard.

With a diversity of viewpoints, we can be more creative, innovative and adaptive to our changing world—ensuring our network is more secure, our products are more relevant and our marketing messaging are reaching all people in a meaningful way. People of color make up more than a third of our U.S. workforce, and their contributions to Mastercard are immeasurable.

This month, we celebrated Black History Month with inspirational events, thoughtful discussion and connection-building across our teams—much of this activity led by our LEAD (Leading Employees of African Descent) business resource group. LEAD has been instrumental in shaping our talent recruitment efforts, recently forming a new advisory committee to help attract diverse talent in cybersecurity, technology, product development and other areas. In the dynamic and changing 21st century workplace, diversity is still an issue that not only influences our ideas of fairness and opportunity, but one that impacts performance and innovation.

To fuel the discussions around diversity further, we have been benchmarking our efforts and are now expanding this benchmark information to include median pay figures.

When we look at pay equity in the U.S., racial and ethnic minorities earn $1.006 compared to every $1.00 earned by Caucasian employees, based on our latest analysis of employees at the same level, doing the same role.[1] The median pay for people of color is 93.0 percent compared to the median pay for Caucasians in the U.S. We know work remains to be done and—in partnership with groups like LEAD—are committed to build a world-class, diverse team.

We’ll continue to focus on our U.S. recruiting efforts, with an emphasis on attracting and converting diverse slates of candidate that include people of color—and on creating a culture where all can thrive. The continued success of our people, and our company, depends on it.

February might be behind us, but the dialogue will continue.

 

 

[1] Pay equity figures based on action taken for the available U.S. employee population as of September 1, 2019. U.S. slate and hiring figures as of September 1, 2019; U.S. median pay figures as of March 1, 2020.

 

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  • Posted on Wednesday February 26, 2020
  • Created by Sarah Ely

Leap Year is Giving Us One More Day, and Mastercard Wants to Help You Share it With Someone You Love

Brand to auction Priceless Experiences and donate 100% of winning bids to Stand Up To Cancer PURCHASE, NY – February 26, 2020 – Leap Day may exist to ensure that the calendar stays in line with the Earth’s movement around the Sun, but it also gives us one more day in the year to share …
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Brand to auction Priceless Experiences and donate 100% of winning bids to Stand Up To Cancer

PURCHASE, NY – February 26, 2020 – Leap Day may exist to ensure that the calendar stays in line with the Earth’s movement around the Sun, but it also gives us one more day in the year to share in new and exciting experiences. Beginning today through Leap Day (February 29), Mastercard has curated an array of Priceless Experiences across sports, entertainment, and travel, among others, to help consumers use that extra day to share their passions with someone they love. The experiences are now available for auction on Priceless.com/LeapYear . Mastercard will donate one hundred percent of the winning bids to Stand Up To CancerAugust 20, 2019, Boston, MA: Finbar Coleman throws a ceremonial first pitch during pregame ceremonies before the Boston Red Sox’s game against the Philadelphia Phillies at Fenway Park in Boston, Massachusetts on Tuesday, August 20 2019.  (Photo by Cameron Pollack/Boston Red Sox).

“Experiences, whether it be across music or travel, are truly best when shared with those that matter most to you,” said Cheryl Guerin, executive vice president of North America Marketing & Communications for Mastercard. “Leap year gives us an extra day to do just that, and we want to give our cardholders a unique way to share their passion with someone special while at the same time giving back with purpose.”

What’s Your Passion? We’ve Got an Experience for You to Leap Into.

The specially crafted offerings available for auction include:

  • You, Your Bestie & Camila Cabello! Share the ultimate Camila Cabello concert experience with someone special at the Los Angeles, Chicago, New York, or Miami shows of her sold-out Romance Tour. You’ll begin your evening at a VIP pre-show reception including a Meet & Greet with Camila, along with complimentary food, drink and pre-concert party. When it’s showtime, you’ll head to your seats in the arena with excellent views of the stage as the bestselling singer-songwriter performs her biggest hits.
  • Island Hopping in Greece: Savor the breathtaking beauty of the Greek islands with a loved one on a five-day, four-night luxury tour of Mykonos and Santorini. Turn your island dreams into a reality as you enjoy five-star accommodations, gourmet dining, and culturally enriching activities.
  • Take the Mound at Fenway Park Surrounded by Your Entourage: Walk in the footsteps of legends as you throw a ceremonial first pitch before a Red Sox home game at Fenway Park, a privilege usually reserved for celebrities and local dignitaries. This unforgettable day of baseball includes a pre-game tour of the ballpark as well as four tickets to the game.
  • Marcus Samuelsson + Mom = Priceless: Give mom an unforgettable treat for Mother’s Day this year as you take her to an exclusive cooking demonstration and dinner with award-winning chef Marcus Samuelsson. You’ll join chef Marcus at Ginny’s Supper Club, a stylish lounge located beneath Red Rooster Harlem, where you’ll watch him prepare several of his acclaimed dishes.
  • Watch the League of Legends Champions Battle it Out Right Before You: Immerse yourself in the ultimate esports competition as you and a guest attend the League of Legends Championship Series Spring Finals in Frisco, Texas as VIP guests. You’re in for a big taste of southern hospitality with premium hotel accommodations, luxury transportation, fine dining, and premium seats to watch the best of the best battle it out.
  • The GRAMMYS Red Carpet Treatment: Grab someone special and immerse yourselves in the glamour and excitement of the 63rd GRAMMY AWARDS® together on January 31, 2021. This once-in-a-lifetime experience begins with a pre-GRAMMY reception and a red-carpet entrance to the live telecast of GRAMMY AWARDS® ceremony, followed by with the official GRAMMY afterparty.
  • Say it BIG on a Billboard in NYC: Use one of the world’s biggest stages to send your own personal message to a special someone in the heart of Manhattan for an entire day. Located right outside Madison Square Garden, this massive billboard reaches over 621,000 people each week, giving your personal, multimedia announcement some serious impact. Whatever you have to say, you’ll never forget your day of fame—and neither will your loved ones.

Visit Priceless.com/LeapYear to begin bidding now through February 29. Mastercard will donate one hundred percent of the winning to Stand Up To Cancer. Limited quantities available.

 

About Stand Up To Cancer

Stand Up To Cancer® (SU2C) raises funds to accelerate the pace of research to get new therapies to patients quickly and save lives now. SU2C, a division of the Entertainment Industry Foundation, a 501(c)(3) charitable organization, was established in 2008 by media and entertainment leaders who utilize these communities’ resources to engage the public in supporting a new, collaborative model of cancer research, to increase awareness about cancer prevention, and to highlight progress being made in the fight against the disease. As of January 2020, more than 1,600 scientists representing more than 180 institutions are involved in SU2C-funded research projects.

Under the direction of our Scientific Advisory Committee, led by Nobel laureate Phillip A. Sharp, Ph.D., SU2C operates rigorous competitive review processes to identify the best research proposals to recommend for funding, oversee grants administration, and ensure collaboration across research programs.

Current members of the SU2C Council of Founders and Advisors (CFA) include Katie Couric, Sherry Lansing, Kathleen Lobb, Lisa Paulsen, Rusty Robertson, Sue Schwartz, Pamela Oas Williams, and Ellen Ziffren. The late Laura Ziskin and the late Noreen Fraser are also co-founders. Sung Poblete, Ph.D., R.N., serves as SU2C’s CEO. For more information, visit StandUpToCancer.org.

 

About Mastercard 
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

 

Mastercard media contact:
Sarah Ely
sarah.ely@mastercard.com
(914) 249 – 6714

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  • Posted on Tuesday February 25, 2020
  • Created by Seth Eisen

Mastercard Announces Leadership Transition

 Ajay Banga, President and Chief Executive Officer, to become Executive Chairman of the Board of Directors January 1, 2021 Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors on January 1, 2021 and, as part of the transition, to become President March 1, 2020 Richard Haythornthwaite …
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  •  Ajay Banga, President and Chief Executive Officer, to become Executive Chairman of the Board of Directors January 1, 2021
  • Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors on January 1, 2021 and, as part of the transition, to become President March 1, 2020
  • Richard Haythornthwaite to retire as Chairman January 1, 2021
  • Merit Janow to become Lead Independent Director January 1, 2021

Purchase, N.Y. – February 25, 2020 – Mastercard (NYSE: MA) today announced that Ajay Banga, President and Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Directors of Mastercard Incorporated on January 1, 2021. Mastercard’s Board unanimously elected Michael Miebach, Chief Product Officer, to become Chief Executive Officer and a member of the Board of Directors on January 1, 2021 and, as part of the transition, he will become President of the company, effective March 1, 2020. As President of the company, Miebach will oversee the sales, marketing, products, services and technology organizations.

“As the company moves into this next phase of growth, we have a deep leadership bench–with Michael at the helm–to take us to the next level,” said Banga. “He has a proven track record of building products and running businesses globally. Over his career, Michael has held leadership positions in Europe, the Middle East and Africa and in the U.S. across payments, data, banking services and technology. During the course of Michael’s 10 years at Mastercard, he has been a key architect of our multi-rail strategy–including leading the acquisition of Vocalink and the pending transaction with Nets–to address a broader set of payment flows. He’s also a visionary who kickstarted much of the work behind our financial inclusion journey. I am excited to continue working closely with Michael and supporting Mastercard’s success when I become Executive Chairman.”

“It has been a privilege to be a part of Mastercard’s transformation as a company,” continued Banga. “Thanks to the efforts of the entire leadership team, we are well-positioned for future success as we continue to embrace emerging and new technologies, making every device a device of commerce. We’ve built a growth-oriented mindset and operated with a sense of urgency, delivering a 13% compound annual revenue growth from 2009 through 2019, and an ~16X increase in our stock price during my tenure with the company[1]. Driven by disciplined organic and inorganic investments, we have enhanced our technology, data and analytics, and cyber-security capabilities, while also building our position in real-time payments. These efforts have diversified our revenue base and expanded our addressable market. And, the partnerships we’ve developed with governments around the world continue to open doors for operating locally in key markets. All of this has been enabled by our brand and, most importantly, by our incredible people.”

“Mastercard has outstanding people, leading technology and tremendous potential. I am honored to have the opportunity to lead this great company with a team by my side that is second to none,” said Miebach. “I’ve dedicated the last decade of my career to payment innovation and will continue to evolve and execute Mastercard’s strategy. I would like to thank the Board of Directors for their confidence and trust, and I am excited to continue to partner with Ajay, our leadership team and all of our employees to build solutions that address the current and future needs of the ecosystem as well as pursue new growth opportunities for our company.”

Mastercard’s current Chairman, Richard Haythornthwaite, will retire from the Board after more than a decade of exceptional service when Banga assumes the role of Executive Chairman.

“On behalf of the Board of Directors, I thank Ajay for his outstanding leadership and commitment to Mastercard. We will continue to benefit from his experience and expertise,” Haythornthwaite said. “Ajay has led the strategic and cultural transformation that has enabled the company to thrive. Michael shares the values Ajay fostered and has played a pivotal role in the company’s transformation. The Board has full confidence in Michael’s leadership, experience and capabilities to build on the extraordinary platform developed under the leadership of Ajay and his predecessors.”

Current Board member, Merit Janow, Dean of the faculty of Columbia University’s School of International and Public Affairs (SIPA), was unanimously elected by the Board to become Lead Independent Director on January 1, 2021. She will continue to serve as Chair of the Nominating and Corporate Governance Committee when Haythornthwaite retires. Janow is a globally recognized expert in international trade and investment with extensive experience in government and regulatory bodies. Her career and public board service provide significant insights on technology innovation and digital matters, including cybersecurity. She joined the Board in 2013.

“I would like to thank Rick for his many contributions to Mastercard. He has been instrumental to our growth, leading us through important milestones, including our IPO. I’m grateful for the relationship we have built – one of trust, friendship and guidance, coupled with clear lines of accountability,” added Banga. “Merit brings a wealth of expertise to the table and I look forward to continuing to work closely with her as Lead Independent Director.”

Ajay Banga

Michael Miebach

# # #

Conference Call Details
At 9:00 a.m. ET today, the company will host a 30-minute conference call focused on today’s organizational announcement and will not be discussing business performance at this time. The dial-in information for this call is 833-236-5755 (within the U.S.) and 647-689-4183 (outside the U.S.), with passcode 3994894. A replay of the call will be available for 30 days and can be accessed by dialing 800-585-8367 (within the U.S.) and 416-621-4642 (outside the U.S.), using passcode 3994894. A live audio webcast of this call can also be accessed through the Investor Relations section of the company’s website at investor.mastercard.com.

About Mastercard Incorporated (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Forward-Looking Statements
This press release contains forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. When used in this Release, the words “believe”, “expect”, “could”, “may”, “would”, “will”, “trend” and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements that relate to the Mastercard’s s future prospects, developments and business strategies. Please see a complete discussion of these risk factors in Part I, Item 1A – Risk Factors of the company’s Annual Report on Form 10-K for the year ended December 31, 2019. Our forward-looking statements speak only as of the date of this press release or as of the date they are made, and we undertake no obligation to update our forward-looking statements.

Contacts:
Investor Relations: Warren Kneeshaw, investor.relations@mastercard.com, 914-249-4565
Communications: Jennifer Erickson, jennifer.erickson@mastercard.com914-249-1284

[1] MA stock price of $20.26 at August 31, 2009 vs. $324.67 at February 24, 2020

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  • Posted on Tuesday February 11, 2020
  • Created by Seth Eisen

Mastercard and NetsUnion JV Approved to Prepare for Domestic Operations in China

Beijing – February 11, 2020 – Mastercard today is pleased to announce that it has received in-principle approval from the People’s Bank of China (PBOC) to begin formal preparations to set up a domestic bankcard clearing institution in China. The application was submitted by Mastercard NUCC Information Technology (Beijing) Co., Ltd, a joint venture of …
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Beijing – February 11, 2020 – Mastercard today is pleased to announce that it has received in-principle approval from the People’s Bank of China (PBOC) to begin formal preparations to set up a domestic bankcard clearing institution in China.

The application was submitted by Mastercard NUCC Information Technology (Beijing) Co., Ltd, a joint venture of Mastercard and NetsUnion Clearing Corporation (NUCC).

Ajay Banga, president and CEO, Mastercard, said, “We are delighted and encouraged by this latest decision from the PBOC. China is a vital market for us and we have reiterated our unwavering commitment to helping drive a safer, more inclusive and seamless payments ecosystem for Chinese consumers and businesses.  We remain focused on working with the Chinese government and local partners to grow the overall payments infrastructure.”

The strategic collaboration between Mastercard and NUCC is founded on mutual synergies, and will drive a simple, safe and smart payments experience in a market well regarded as being one of the global frontrunners in digital payments technology.

Within one year, the company will be able to apply to the People’s Bank of China for formal approval to begin domestic bankcard clearing activity.

About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Mastercard Communications Contact
Seth Eisen, 914-249-3153
Seth.Eisen@mastercard.com

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  • Posted on Friday February 07, 2020
  • Created by Dania Saidam

Republic of North Macedonia, Mastercard Design National Digital Identity Service to Help Grow Digital Economy

Partnership to Build on International Standards, Framework Skopje – February 7, 2020 – The Government of the Republic of North Macedonia and Mastercard today unveiled plans for a range of digital solutions that will advance the country’s digital economy aspirations and give citizens a new way to prove their identity when accessing government and business …
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Partnership to Build on International Standards, Framework

Skopje – February 7, 2020 – The Government of the Republic of North Macedonia and Mastercard today unveiled plans for a range of digital solutions that will advance the country’s digital economy aspirations and give citizens a new way to prove their identity when accessing government and business services.

The partnership is intended to bring local digital identity and related services – like digital document signing and verification – that Macedonian citizens can use across a number of day-to-day activities. Among the first applications are electronic “Know Your Customer” activities to support remote opening for new bank accounts, without visiting a branch in person, and new prepaid and postpaid mobile phone accounts.

“Technology is changing our lives in ways we could have only dreamed just years ago,” said Ajay Bhalla, president of cyber & intelligence for Mastercard. “The best solutions come by bringing together strong partners. That’s why we’re pleased to work with the Macedonian government to address real problems for their citizens. With this service, they can use a digital identity for public services, while maintaining control of their information with security, privacy and trust.”

This first-of-its-kind effort will build on the recently created digital identity regulations in North Macedonia and broader European eIDAS (electronic identification, authentication and trust services) standards. Once launched, it will also enable seamless digital interactions between businesses and government agencies across the region and around the globe.

“Propelling our economy is critical. But to meet our potential, everyone must establish a digital trust service foundation,” said Damjan Mancevski, minister of Information Society and Administration.

“This partnership will provide a digital identity service that improves the everyday experience, while increasing the efficiency of our public and private services on the road to greater economic growth,” said Nina Angelovska, Minister of Finance.

The partnership will promote open collaboration with governments, banks, mobile network operators, universities and other partners to shape the services. In addition to the digital identity service, Mastercard will also support other e-government initiatives and promote related best practices from other geographies.

The Macedonian/Mastercard digital identity service is based upon a distributed model that eliminates the need for a centralized identity database. It builds on Mastercard’s consumer-centric approach outlined in a Principles of Digital Identity vision paper that prioritizes privacy-by-design.

Value of Public-Private Partnerships

According to a recent World Economic Forum white paper, collaboration across the public and private sectors offers the potential to create new models of secure, useful digital identity that build on a commitment to the responsible handling of personal information, giving consumers control over which data is used and how it is used.

Governments around the globe are already working on a wide range of digital identity initiatives, ranging from specifying standards to developing applications and infrastructures.

Mastercard’s efforts with North Macedonia are part of a broader effort to support the transformation of how individuals, businesses and governments interact online. This initiative aligns closely with the company’s partnership with the French government to accelerate the digitization of the country’s economy, along with other strategic collaborations as announced with educational and government institutions in Australia. Further partnerships and pilots will be introduced throughout 2020.

To learn more about Mastercard’s vision for digital identity and ID, visit www.idservice.com

About Mastercard
Mastercard, www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Contact for further information:

Polina Vidas

+359 899907739

polina.vidas@mastercard.com

 

Dania Saidam

+44 (20) 7513 2295

dania.saidam@mastercard.com

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  • Posted on Thursday January 30, 2020
  • Created by Sachin Mehra

Earnings Review: Maintaining the Course As The Calendar Changes

While life has its twists and turns, having a plan and being able to navigate the changing waters will determine if you’re successful. Business is no different. It’s about the strategy and being able to deliver on it. Never has that been more true than the past decade I’ve spent here at Mastercard – including …
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While life has its twists and turns, having a plan and being able to navigate the changing waters will determine if you’re successful. Business is no different. It’s about the strategy and being able to deliver on it. Never has that been more true than the past decade I’ve spent here at Mastercard – including the past year as CFO.

Now, much has changed at Mastercard during that time. Our business looks different than it did then. The world is much more digital. And, we have a new set of partners and customers. But, what hasn’t changed is our focus on the strategy – grow the core, diversify across customers and geographies, and build new areas – and the commitment to long-term return to our shareholders.

It’s with that view that we reported our fourth quarter and full year 2019 results this morning.

As Ajay highlighted on the call, we closed out 2019 on a strong note. In the fourth quarter, revenue was up 17 percent and EPS increased 28 percent versus a year ago, both on a non-GAAP, currency-neutral basis. For the full year, revenue was up 16 percent, with EPS up 23 percent, on this same basis.

The numbers don’t happen on their own. Instead, they’re a reflection of the commitment and drive of our people in every geography across the world to deliver on our shared strategy.

Thinking Digital First – Our platforms and technologies are enabling people to make purchases simply, easily and safely where they want. Through the end of the year, several merchants – like Amazon, Stripe and Mercado Libre – signed on with our token programs, providing increased security and improved approval rates. And, we’re seeing good traction in the adoption of the click-to-pay checkout as more merchants, such as FreshDirect, Match.com and Saks Fifth Avenue, come on board.

Reinforcing a Foundation of Trust – During the quarter, we announced the acquisition of RiskRecon. They bring a best-in-class AI and analytics solution to help businesses of all types – merchants, financial institutions, governments and others – secure their digital assets. This is a great complement to our existing cyber security services, whether that’s on the core network and Safety Net or the expansion of our biometric and AI platforms through NuData, Brighterion and Ethoca.

Keeping an Eye to the Future – We continue to be supporters of Open Banking – especially when it’s done the right way. We’ve developed and are running a set of comprehensive solutions and services – with a foundation in data privacy and real-time payments – that work for banks, fintechs, merchants and consumers. These efforts go hand-in-hand with our progress on digital identity and the commitment for each person to own, control and share their identity credentials how they choose. Some initial pilots are underway, with more to be shared throughout the year.

Looking ahead to 2020, we expect economic growth to be fairly similar to what we saw last year. The fundamentals of our business remain strong and our ability to deliver on our strategy will be seen as we share updates in the months to come on new customer agreements, new relationships and new technologies we’re bringing to the market.

Thanks for your support of our business.

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  • Posted on Friday January 24, 2020
  • Created by Seth Eisen

Pine Labs announces investment from Mastercard

Relationship expands omnichannel payment options for consumers in South Asia and beyond New Delhi – January 24, 2020 – Pine Labs, one of Asia’s leading merchant commerce platforms, announced an investment by Mastercard that underscores confidence in India’s growing economy. The investment is part of a partnership to continue the rapid growth of convenient electronic …
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Relationship expands omnichannel payment options for consumers in South Asia and beyond

New Delhi – January 24, 2020 – Pine Labs, one of Asia’s leading merchant commerce platforms, announced an investment by Mastercard that underscores confidence in India’s growing economy.

The investment is part of a partnership to continue the rapid growth of convenient electronic payment options for consumers across the region. The collaboration will deliver an extensive range of card and real-time payments-based instalment financing at checkout – in-store and online.

Together, the companies will offer a suite of value-added services, including Pine Labs’ end-to-end stored value solutions which will replace the paper ones now widely used by companies, retailers and people in South Asia and many other markets.

Terms of the deal were not disclosed.

From its beginnings as an offline retail payment provider a decade ago, Pine Labs has evolved into offering payment acceptance technology, stored value products, in-store consumer credit and other merchant solutions in India, Southeast Asia and the Middle East. Today, it processes payments of US$30 billion per year and serves some 140,000 merchants across about 450,000 network points.

The fast-growing and digitally connected middle class in South Asia and elsewhere is seeking “buy now, pay later” options for a larger range of personal goods and services. This offers enormous potential for merchants, brand owners and financial institutions to drive innovations that maximize flexibility and choice for consumers. Pine Labs works closely with a range of financial institutions and partners who are responsible for the design and delivery of the instalment financing service to merchants and consumers.

“This relationship is a great validation of the top-quality products that Pine Labs delivers to merchants,” said Lokvir Kapoor, founder and chairman of Pine Labs. “Together, we have a unique opportunity to use Mastercard’s global presence and technology infrastructure to enhance our growth and enable us to meet the growing needs of customers in India and beyond.”

A study published in May 2019 by PwC and the Associated Chambers of Commerce of India showed that the market opportunity in India for instalment-based payments on consumer goods will hit US$16.9 billion in 2021 and is expected to jump to US$52.5 billion in 2025.[1]

“Smart devices are transforming how people shop. With this partnership, we’re continuing to build innovative solutions and provide people with new ways to pay right at their fingertips,” said Ari Sarker, co-president for Asia Pacific at Mastercard. “By joining forces with Pine Labs, we are reinforcing our strategy to deliver choice to consumers and to be the partner of choice for our customers in South Asia and around the world.”

About Pine Labs
Pine Labs is one of Asia’s leading merchant commerce platforms. Its unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions. Its stored value platform includes issuing, processing and distributing digital gift cards for corporate customers. Its customer base includes prominent large, mid-sized and small merchants across India, South East Asia and the Middle East. Pine Labs is incorporated in Singapore. Pine Labs’ key investors include Sequoia India, Actis Capital, Temasek, PayPal and Sofina. To know more, please visit www.pinelabs.com

About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. Its global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow Mastercard on Twitter @MastercardAP, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Pine Labs Communications Contact
Akanksha Jain, +91 987 190 0447                                                                     
akanksha.jain@pinelabs.com

Mastercard Communications Contact
Medha Girotra, +91 892 948 7704
medha.girotra@mastercard.com

[1] https://www.pwc.in/assets/pdfs/consulting/financial-services/fintech/publications/emerging-technologies-disrupting-the-financial-sector.pdf

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  • Posted on Friday January 24, 2020
  • Created by Rebecca Abraham

Mastercard at World Economic Forum 2020

The leading creative force for engaging top leaders to shape global, regional and industry agendas is wrapping up. Each January, the World Economic Forum’s annual meeting aims to improve the state of our world and Mastercard, as always, is honored to be included in that conversation. This year the official theme is “Stakeholders for a …
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The leading creative force for engaging top leaders to shape global, regional and industry agendas is wrapping up. Each January, the World Economic Forum’s annual meeting aims to improve the state of our world and Mastercard, as always, is honored to be included in that conversation.

This year the official theme is “Stakeholders for a Cohesive and Sustainable World” and the World Economic Forum is looking to prioritize six key areas:

  1. Ecology: How to mobilize business to respond to the risks of climate change and ensure that measures to protect biodiversity reach forest floors and ocean beds;
  2. Economy: How to remove the long-term debt burden and keep the economy working at a pace that allows higher inclusion;
  3. Technology: How to create a global consensus on deployment of Fourth Industrial Revolution technologies and avoid a technology war;
  4. Society: How to reskill and upskill a billion people in the next decade;
  5. Geopolitics: How the ‘spirit of Davos’ can create bridges to resolve conflicts in global hotspots;
  6. Industry: How to help business create the models necessary to drive enterprise in the Fourth Industrial Revolution; and how to navigate an enterprise in a world exposed to political tensions, driven by exponential technological change as well as increasing expectations from all stakeholders.

Read more on Mastercard’s leadership on these topics:

The Path to Stakeholder Capitalism Requires Something Basic: Decency – Ajay Banga, President & CEO, Mastercard

The Geography of Gender: Where Women Work, Economies Grow – Ann Cairns, Executive Vice Chairman, Mastercard

Closing the Trust Gap: How Responsible Data Use Can Accelerate a Sustainable Society – JoAnn Stonier, Chief Data Officer, Mastercard

How to Power Inclusive Growth From the Ground Up – Shamina Singh, President, Mastercard Center for Inclusive Growth

 

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  • Posted on Thursday January 23, 2020
  • Created by William Tsang

SoFi Supercharges its Debit and Credit Cards with Mastercard

SoFi, the digital personal finance company, and Mastercard announced a multifaceted partnership to offer a suite of products and in-person experiences to its nearly one million (and growing) SoFi members.

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SoFi and Mastercard to Offer Top-of-the-Line Benefits and Technology to SoFi Members  

SAN FRANCISCO – January 23, 2020 – SoFi, the digital personal finance company, and Mastercard today announced a multifaceted partnership to offer a suite of products and in-person experiences to its nearly one million (and growing) SoFi members.

The partnership will initially focus on the SoFi Money™ debit card, for which Mastercard will now be the exclusive card network. The card is one way to spend with the SoFi Money cash management account – unveiled last year – which offers no account fees, high-yielding interest, ATM fee reimbursements, mobile check deposit, P2P, and other digital tools. Under the new debit program, added member benefits will include cashback rewards, complimentary cell phone insurance, discounted airport concierge services, and much more.

“Our mission at SoFi is to help our members achieve financial independence to realize their ambitions. In order to do so, we must build products and services that help our members Get Their Money Right,” said Anthony Noto, CEO of SoFi. “It is imperative that our partners are leaders in technological innovation, security, and enhanced benefits, and Mastercard is an industry leader across all of those areas.”

With Mastercard, SoFi will leverage the payments network to develop new products, benefits, and experiences for its members. As part of the new partnership, Mastercard will also be the exclusive card network for SoFi’s upcoming credit card product. Members holding certain SoFi and Mastercard products will be able to take advantage of an enriched fan experience at SoFi Stadium, opening in Los Angeles later this year.

“We look forward to working with SoFi to offer their members innovative new products and benefits,” said Craig Vosburg, president, North America, Mastercard. “We recognize the importance of SoFi’s mission to enable their members to live better financial lives and are pleased they have selected Mastercard as their partner in doing so.”

About SoFi

SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than 900,000 members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, future home of the Los Angeles Chargers and the Los Angeles Rams, opening in July 2020. For more information, visit SoFi.com or download our iOS and Android apps.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Mastercard Communications Contact:

Will Tsang

william.tsang@mastercard.com

(914) 414-5420

SoFi Communications Contact:

Rachel Rosenzweig

rrosenzweig@sofi.com

(415) 692-4436

DISCLOSURES

SoFi loan products are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org). Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi Money® is offered through SoFi Securities LLC, Member FINRA/SIPC. SoFi Money is a cash management account not a bank account, and is offered by a broker dealer. The SoFi Money account is a brokerage account. Neither SoFi nor its affiliates is a bank. SoFi doesn’t charge any ATM fees and will reimburse ATM fees charged by other institutions. Please note, though SoFi doesn’t charge foreign transaction fees, there is a foreign exchange fee of 1% charged by Visa that is not waived. SoFi reserves the right to limit or revoke ATM reimbursements at any time without notice.

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  • Posted on Thursday January 23, 2020
  • Created by Seth Eisen

Mastercard Opens Global Intelligence and Cyber Centre in Vancouver

New centre will create jobs and accelerate innovation in digital and cyber security, AI and IoT Vancouver – Jan. 23, 2020 – Mastercard today unveiled its new Intelligence and Cyber Centre in Vancouver, Canada. The centre will expand the company’s Canadian presence by creating and maintaining a total of 380 jobs, and accelerate innovation in …
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New centre will create jobs and accelerate innovation in digital and cyber security, AI and IoT

Vancouver – Jan. 23, 2020 – Mastercard today unveiled its new Intelligence and Cyber Centre in Vancouver, Canada. The centre will expand the company’s Canadian presence by creating and maintaining a total of 380 jobs, and accelerate innovation in digital and cyber security, artificial intelligence, and the Internet of Things. The new space in Vancouver will become one of six global technology centres for Mastercard and will develop cyber solutions for the payments ecosystem globally.

“Ensuring payments are both convenient and secure has always been a top priority for Mastercard,” said Ajay Banga, president and chief executive officer of Mastercard. “The Vancouver centre will help us meet the growing demand for technology solutions to reduce the cost of cyber-attacks, enable today’s connected devices to become tomorrow’s secure payment devices, and address the growing vulnerabilities associated with the Internet of Things.”

The Vancouver centre is being launched in partnership with the Government of Canada through its Strategic Innovation Fund, with an additional $510 million investment by Mastercard.

“As Canadians use connected devices more and more, including for sensitive financial services like banking, they want to know that their data and privacy are protected,” said The Honourable Navdeep Bains, Minister of Innovation, Science and Industry. “Our government is investing in a new cybersecurity centre in Canada to develop the technology solutions Canadians and people all over the world need to protect their personal and financial information when they use their devices. This will make Canada a world leader in cybersecurity and help us tackle the cost of cybercrime in Canada—an estimated $3 billion a year.”

This expansion is the latest in a series of investments by Mastercard in Canada , reinforcing the company’s commitment to supporting Canadian innovation and technology talent. In 2017, Mastercard acquired Vancouver-based NuData Security and last year, Toronto-based Ethoca, bringing together best-in-class solutions across biometrics and fraud resolution to drive greater security in the digital space.

“Expanding our presence in Canada allows us to tap into the country’s talented workforce and thriving technology ecosystem, to help bring innovations to market even faster,” Banga added.

Located in The Exchange office tower in the restored Old Stock Exchange building, the Vancouver centre is currently home to the NuData Security team with added members from Mastercard’s Research & Development, Operations & Technology, and Cyber & Intelligence divisions. The investment will open roles for software engineers, data scientists, project managers, analysts, product designers and information security experts. The centre will complement Mastercard’s Canadian headquarters in Toronto and its global technology centres in New York, St. Louis, India (Pune-Vadodara), Dublin and Sydney. To find job openings in Vancouver and across the world, visit the Mastercard global careers site.

About Mastercard
Mastercard, www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

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  • Posted on Tuesday October 26, 2021
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Investing in Women Everywhere

Meet Moshrefa Banu, a 25-year-old quality inspector in the sewing section of a garment factory in Dhaka, Bangladesh.  She is married and has a young daughter who stays with Moshrefa’s parents in her home village while she works in the city. Moshrefa dreams of one day providing her family with a home of their own. Clouding her dreams are the everyday worries of balancing saving and spending …
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Moshrefa

Meet Moshrefa Banu, a 25-year-old quality inspector in the sewing section of a garment factory in Dhaka, Bangladesh.  She is married and has a young daughter who stays with Moshrefa’s parents in her home village while she works in the city. Moshrefa dreams of one day providing her family with a home of their own. Clouding her dreams are the everyday worries of balancing saving and spending — especially when she doesn’t have a secure place to save her money.

Moshrefa is among the more than 40 million workers employed in the garment industry in Asia. Women comprise the vast majority of front-line factory workers and are rarely promoted off of the line into management positions. On payday, women are paid in cash. They usually hand over a significant portion to the men in their lives to spend how they see fit, rather than use it to pay for the family-centered priorities the women may have.

Using digital technology to change the way workers get paid offers the opportunity to help shift household spending, advance financial inclusion and help people remain resilient during emergencies, which is critical now as workers around the world face growing economic uncertainty in the wake of the COVID-19 pandemic.

Recently, Moshefra started receiving her wages in a digital bank account, along with financial training using a gamified tech learning tool developed by BSR’s HERfinance program and the Mastercard Center for Inclusive Growth. “I didn’t know how to use [mobile money] until we had the [HERfinance] training,” said Moshrefa. “I can be more responsible with money now. I can save some of my wages in my mobile money account and can earn interest.”

Building on the lessons from HERfinance in Bangladesh, Mastercard has partnered with several major global brands, including Levi’s, VF Corporation and Marks & Spencer, to help empower garment workers financially and accelerate the transition to digital wages.

Our work in the garment industry is just one of the many ways Mastercard is working to help women thrive and stay resilient in the face of crisis. We’re pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations to build more inclusive economies.

This includes harnessing digital technology to permanently close the persistent 9% gender gap in financial inclusion. But first, we need technology that works for women.

In the U.S., Mastercard has worked with Grameen America to transition low-income women entrepreneurs to digital banking to help them stay competitive in an increasingly cashless society. Mastercard, in partnership with Citi and Apple, has provided support for Grameen America to digitally disburse loans and transform their back-end systems to scale their operations to reach more than 129,000 women.

Globally, we are collaborating with organizations like Accion and CARE to help micro and small businesses access the tools and services they need to thrive in the digital economy. Together, we aim to drive long-term financial security for these entrepreneurs in good times and bad.

Our commitment to increasing opportunities for women in the digital economy extends beyond financial inclusion to helping women and girls access the jobs of today and tomorrow.

Through our signature Girls4Tech program, we provide mentorship and education to encourage girls around the world to take interest and participate in STEM activities. So far, we have reached more than 800,000 girls in 27 countries, surpassing our goals.

As the COVID-19 pandemic continues to affect millions globally, we recognize that underserved populations will be among the hardest hit by the health and economic impacts of this global crisis.

This includes the increasing numbers of women who are on the front lines in the fight against the outbreak. Women make up the majority of healthcare workers, and are bearing much of the responsibility for caregiving as children stay out of school for months and relatives fall ill.

Together with the Bill & Melinda Gates Foundation and Wellcome, we have committed $125 million in seed funding to speed up the response to the COVID-19 epidemic by identifying, assessing, developing and scaling up treatments that are affordable and accessible to patients everywhere.

Our mission is to connect and power an inclusive digital economy that works better for women and creates limitless possibilities for us all. It’s a world that gives everyone the chance to unleash their potential.

 

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  • Posted on Thursday March 19, 2020
  • Created by Ajay Banga

A Letter to Our Community

To the Mastercard Community– COVID-19 has become part of our new reality. At best, we are faced with the new challenges of social isolation and figuring out how to use digital connections to stay close with our family, friends and colleagues and to help our children continue to learn. At worst, we are battling the …
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To the Mastercard Community–

COVID-19 has become part of our new reality. At best, we are faced with the new challenges of social isolation and figuring out how to use digital connections to stay close with our family, friends and colleagues and to help our children continue to learn. At worst, we are battling the virus directly, as well as the myriad complications that come with it. No matter where you are and what you are facing, know that our hearts go out to you.

Even when the world is enjoying general health and prosperity, there is a need to tap into our basic human decency as we approach our work and relationships. But right now – when the world has had to resort to extreme measures to tackle extreme circumstances – decency is even more important. It’s what’s going to give us a fighting chance at faster recovery and, eventually, growth on the other side.

Right now, when all the health and safety guidance is asking us to fundamentally alter the way we interact with each other, the desire to close ranks and only worry about our immediate area of influence is understandably strong. But the need for businesses to step up, reach beyond business-as-usual and activate new and perhaps creative ways to use their infrastructure and key skills to keep the economy and society going – that’s even stronger.

Mastercard’s core capability is enabling commerce. We’re going to keep doing that today, tomorrow and far into the future. But, we are also going beyond commerce to support our various communities, because that’s what we need to do in order to navigate this crisis together.

Our Workforce:
Our employees make Mastercard what it is today. Their resiliency and creative approach to challenges of all kinds are what will see us through this period and help us define new ways to help others. Their safety and security has always been and will continue to be at the top of our minds.   We’ve initiated several temporary policies according to guidance from regional authorities, international health organizations and our employee’s own concerns and comfort levels, including working from home, split working schedules, restricted or postponed travel, among others.

Our Partners and Clients:
We are managing our business, so we can be there for our partners today and even stronger for them when we all come out the other side. Our operations continue as normal, supported by a resilient core infrastructure and comprehensive business continuity plans. Furthermore, we continue to tap into our insights and capabilities to provide real-time responses and adaptability to protect against increased cyber risks and fraud threats, while also using enhanced analytics and test & learn capabilities to ensure our ideas and solutions are working as hard as they can for our clients. The bottom line: we’re here for you, no matter what this global event throws our way.

Our Account and Cardholders:
Whether you are ordering quarantine supplies online in Vancouver or a shopkeeper trying to keep stocked for your own customers’ needs in Kampala, we are maintaining our operations and network to support the ways people need to pay for things however, whenever, wherever and whatever the circumstances. We are here to provide you with the safe, simple and seamless experiences you expect from us every other day.

Our Society:
In times like these, all efforts matter and we will continue to look for ways to help – big and small. We are partnering with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19.  Together, we have committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments. We invite you to join our effort to find a solution to this unprecedented situation by giving to the Covid-19 Therapeutics Accelerator Fund. We are also continuing to match employee donations to relief efforts and have contributed to funds like the China Women’s Development Foundation to support the initial efforts in Wuhan. Through our partnership with Scholastic, we are making our Girls4Tech online curriculum for grades 3 – 7 available to anyone who wants to download it. And, most recently, we have donated 25,000 respirator masks to NYC hospitals.

At Mastercard, our focus has always been on helping to build a more connected world, and in today’s environment, this is more important than ever. We remain committed to that cause and are moving forward in a way that supports human safety and global efforts for sustainability now and recovery in the future. We are in this with each and every one of you for the long haul and I am confident that, as long as we keep plugging in to our basic human decency, we will emerge from this and find new strengths and growth we never imagined.

Sincerely,
Ajay Banga

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  • Posted on Wednesday March 18, 2020
  • Created by Alexandria Brown

Designing for Women, One Product at a Time

By Bunita Sawhney Women control upwards of 80% of household buying decisions, yet too much of our world was designed without their needs in mind, and without them involved. This results in missed opportunities that hold us all back. The solution is clear: having women—and their perspectives—firmly represented in product development leads to better products for …
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By Bunita Sawhney

Women control upwards of 80% of household buying decisions, yet too much of our world was designed without their needs in mind, and without them involved. This results in missed opportunities that hold us all back.

The solution is clear: having women—and their perspectives—firmly represented in product development leads to better products for women, for everyone.

Women entrepreneurs and their ingenuity are central to this. They contribute over $3 trillion to today’s economy and open businesses at double the rate of men, yet only 3 percent of global venture dollars are invested in female-only funded startups. Mastercard Start Path, our award-winning startup engagement program that provides participants unparalleled access to Mastercard’s technology, solutions expertise and partner network, is helping to change that.

Meet Joanna Bichsel, an entrepreneur and Start Path member. Joanna founded Kasha, an e-commerce company that delivers health and beauty products directly to women in Kenya and Rwanda, after noticing that women didn’t have access to the feminine products and contraceptives they needed. She developed products that are delivered in discreet boxes; women can pay with their digital wallets using any type of mobile phone, no internet or smart phone required.

Just last year, we added eight female-founded startups to Start Path. And, half of the program’s participants overall are women-founded, -funded or led. We’re helping them better design and scale solutions around the world. So far, our female-founded/-led start-ups have raised nearly $1 billion in capital investment.

“Being part of Start Path is like having an internal champion immediately within Mastercard, a relationship that usually takes years to build with other corporations,” says Joanna. “It opens doors that were previously unknown to me.”

Within Mastercard, we’re taking a similar hard look at ensuring our solutions are designed for and by women. Recently, we established inclusivity best practices within our product development lifecycle—including research and testing—to remove unconscious bias and ensure the unique priorities of women are addressed.

For instance, the vast majority of women are seeking to protect and prioritize their families – 85% of women agree that this is an important personal value, according to the Kantar Global Monitor. One way that we’re addressing this need is through access to key services. We’re currently running a pilot program with select card issuers in Latin America that provides cardholders access to a low-cost, app-based healthcare service. With financial independence an important component of empowering women, we’re also sponsoring programs like Path to Priceless to connect women business owners with resources such as learning modules and mentorship.

This is just the beginning.

To reach more women across more geographies, we’re helping our customers expand inclusivity in their own product development efforts. We’ve launched the “Women Sparks” incubation series  to co-create and design solutions that address a well-defined business challenge and, ultimately, stand to transform women’s access to financial services.

Connecting people to possibilities is fundamental to what we do at Mastercard. I’m honored to be part of this work

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  • Posted on Wednesday March 11, 2020
  • Created by Kelly Joscelyne

Connecting Women to Priceless Possibilities at Mastercard

When Angel Roth left the workplace 13 years ago, she took her skills in IT financial services with her. She approached parenting with the same calm outlook she had brought to the workplace: tackling large tasks by breaking them down into manageable pieces, checking each step off along the way and encouraging her children and …
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When Angel Roth left the workplace 13 years ago, she took her skills in IT financial services with her. She approached parenting with the same calm outlook she had brought to the workplace: tackling large tasks by breaking them down into manageable pieces, checking each step off along the way and encouraging her children and husband to do the same.

As her kids edged toward their teens, she thought about bringing those skills back to the workplace. But like many people who’ve taken a career hiatus, she feared her skills were no longer relevant. “There was a lot of fear and self-doubt,” she admits. “I have this huge gap in my resume. I did fill that time with a lot of things, but how do you even put those experiences into a resume?”

In 2019, she found a new home for those skills at Mastercard, thanks to our Relaunch Your Career program, which encourages people like Angel – mid-level professionals who took a career break – to return to the workforce. The immersive, 16-week training program allows workers to simultaneously learn all about how Mastercard operates and take on a project immediately. She was surrounded by mentors, a “buddy” to support her from within the company, a manager who helped with her transition and various top executives.

Angel Roth, HR Unified Technologies

Angel Roth, HR Unified Technologies

Today, Angel applies her incredible organizational skills to keeping our IT teams operating efficiently. The diversity of her experiences helps us unlock new ideas that ultimately build a stronger company.

There are countless talented people, like Angel, who’ve spent time away from the workplace. One of our jobs, here at Mastercard, is to help eliminate the barriers that prevent them from seizing what’s possible. Since its debut in 2017, Relaunch Your Career has expanded to 19 locations, including India, Canada, Brazil, Russia, Kenya and the U.K.

That’s why we’re constantly rewriting our own playbook to ensure we’re supporting our people and building a globally dynamic, engaged and balanced team. We’re putting policies and programs in place that ensure people are empowered to reach their greatest potential.

Last week, we achieved an important milestone in pay equity with women at our company earning $1.00 to every $1.00 earned by men – equal pay for equal work.

We have a generous parental leave policy for both moms and dads and encourage all new parents to use that leave, so it’s a common and accepted practice.

We have formal and informal mentorship programs, and just this month, we kicked off a new program for junior-level women at Mastercard.

We also have an incredible 40 chapters of our Women’s Leadership Network – a group that create opportunities for female leaders to collaborate, network and grow.

It’s no surprise that Angel feels she benefited most from the support network that surrounded her when she walked through our doors. In addition to her formal mentors, she participated in a weekly discussion group with five fellow Relaunch Your Career participants. “It gave us the opportunity to get to know each other and talk about our feelings and experience,” she says. “It was amazing because I knew I wasn’t going through this journey alone.”

Nor will she be alone as her career progresses.

At Mastercard, women make up 39 percent of our global workforce and half of our new hires. We expect this to continue to grow through development programs such as Women Who Lead and policies that ensure diversity in our hiring, candidate slates and more. Driving toward gender balance is not only the right thing to do, it’s the right thing for our business.

For me, there’s no doubt: a world that works better for women creates limitless possibilities for us all.

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  • Posted on Monday March 02, 2020
  • Created by Ann Cairns

For Women, For Everyone: Mastercard’s Commitment to Gender Balance

Too much of our world was designed without women in mind –and without women involved. Even today, inequality and exclusion still hold women back. That’s why Mastercard is pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations that are transforming the way our world works. First, we’re focused on how …
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Too much of our world was designed without women in mind –and without women involved. Even today, inequality and exclusion still hold women back. That’s why Mastercard is pushing our networks further, forging ambitious partnerships and championing the people, businesses and innovations that are transforming the way our world works.

First, we’re focused on how we support our own people.

It’s essential for our business that we foster a workplace where all employees feel valued, respected and empowered to reach their greatest potential. That includes equal pay for equal work.

I’m incredibly pleased to share that we’ve achieved an important milestone on gender pay equity. Women at our company earn $1.00 to every $1.00 men earn, based on our latest analysis of employees at the same level, doing the same role.

And, today, we’re sharing that the median pay for women globally is 92.2 percent of the median for men.1 These numbers speak to the work that lies ahead for us: Our aim is parity across all measures.

We’re committed to cultivate diverse talent across the company as we build a globally dynamic, engaged and balanced team.

Second, we look at how we impact the market. 

Over the course of this month—and beyond—you’ll hear from Mastercard leaders on new and existing programs we’re implementing to meet the unique needs of women. This includes our continued commitment to female small business owners.

Today, only 3 percent of global venture dollars are invested in female-only funded start-ups. Through our partnerships and programs like StartPath, we’re pushing our network of investors and angels to help increase the number of female founders and give them path to scale. Our research shows that when women work, economies grow. So far, our female-founded and -led start-ups have raised nearly $1 billion in capital investment.

Third, we’re focused on how we drive change in society.

When I started my career, I was often the only woman in the room. Building the next generation of female leaders is essential for our company and for our world. From partnerships with organizations like the 30% Club; the Financial Alliance for Women; Gavi, the Vaccine Alliance; and USAID to our Girls4Tech commitment to educate one million girls in technology, cybersecurity and AI by 2025, we’re bringing diverse perspectives to the table. We look forward to sharing a new research initiative around overcoming the gender gap in technology.

Connecting people to possibilities is fundamental to what we do at Mastercard. It’s what Priceless is all about –unlocking the potential in every person across all parts of their lives.

 

 

[1] Pay equity figures based on action taken for the available employee population as of September 1, 2019. Median pay figures as of March 1, 2020. The median pay difference is determined by lining up the compensation for all people at the company and then taking the median (midpoint) in the range of what all men earn and comparing it to the median (midpoint) in the range of what all women earn.

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  • Posted on Saturday February 29, 2020
  • Created by Michael Fraccaro

Our Shared Success: Black History Month & Beyond

By Michael Fraccaro, chief people officer and executive sponsor of LEAD, and Ron Green, chief security officer and executive advisor to LEAD Our success is driven by our people. And, more inclusive businesses are more successful businesses. That includes Mastercard. With a diversity of viewpoints, we can be more creative, innovative and adaptive to our changing world—ensuring …
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By Michael Fraccaro, chief people officer and executive sponsor of LEAD, and Ron Green, chief security officer and executive advisor to LEAD

Our success is driven by our people.

And, more inclusive businesses are more successful businesses. That includes Mastercard.

With a diversity of viewpoints, we can be more creative, innovative and adaptive to our changing world—ensuring our network is more secure, our products are more relevant and our marketing messaging are reaching all people in a meaningful way. People of color make up more than a third of our U.S. workforce, and their contributions to Mastercard are immeasurable.

This month, we celebrated Black History Month with inspirational events, thoughtful discussion and connection-building across our teams—much of this activity led by our LEAD (Leading Employees of African Descent) business resource group. LEAD has been instrumental in shaping our talent recruitment efforts, recently forming a new advisory committee to help attract diverse talent in cybersecurity, technology, product development and other areas. In the dynamic and changing 21st century workplace, diversity is still an issue that not only influences our ideas of fairness and opportunity, but one that impacts performance and innovation.

To fuel the discussions around diversity further, we have been benchmarking our efforts and are now expanding this benchmark information to include median pay figures.

When we look at pay equity in the U.S., racial and ethnic minorities earn $1.006 compared to every $1.00 earned by Caucasian employees, based on our latest analysis of employees at the same level, doing the same role.[1] The median pay for people of color is 93.0 percent compared to the median pay for Caucasians in the U.S. We know work remains to be done and—in partnership with groups like LEAD—are committed to build a world-class, diverse team.

We’ll continue to focus on our U.S. recruiting efforts, with an emphasis on attracting and converting diverse slates of candidate that include people of color—and on creating a culture where all can thrive. The continued success of our people, and our company, depends on it.

February might be behind us, but the dialogue will continue.

 

 

[1] Pay equity figures based on action taken for the available U.S. employee population as of September 1, 2019. U.S. slate and hiring figures as of September 1, 2019; U.S. median pay figures as of March 1, 2020.

 

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  • Posted on Thursday January 30, 2020
  • Created by Sachin Mehra

Earnings Review: Maintaining the Course As The Calendar Changes

While life has its twists and turns, having a plan and being able to navigate the changing waters will determine if you’re successful. Business is no different. It’s about the strategy and being able to deliver on it. Never has that been more true than the past decade I’ve spent here at Mastercard – including …
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While life has its twists and turns, having a plan and being able to navigate the changing waters will determine if you’re successful. Business is no different. It’s about the strategy and being able to deliver on it. Never has that been more true than the past decade I’ve spent here at Mastercard – including the past year as CFO.

Now, much has changed at Mastercard during that time. Our business looks different than it did then. The world is much more digital. And, we have a new set of partners and customers. But, what hasn’t changed is our focus on the strategy – grow the core, diversify across customers and geographies, and build new areas – and the commitment to long-term return to our shareholders.

It’s with that view that we reported our fourth quarter and full year 2019 results this morning.

As Ajay highlighted on the call, we closed out 2019 on a strong note. In the fourth quarter, revenue was up 17 percent and EPS increased 28 percent versus a year ago, both on a non-GAAP, currency-neutral basis. For the full year, revenue was up 16 percent, with EPS up 23 percent, on this same basis.

The numbers don’t happen on their own. Instead, they’re a reflection of the commitment and drive of our people in every geography across the world to deliver on our shared strategy.

Thinking Digital First – Our platforms and technologies are enabling people to make purchases simply, easily and safely where they want. Through the end of the year, several merchants – like Amazon, Stripe and Mercado Libre – signed on with our token programs, providing increased security and improved approval rates. And, we’re seeing good traction in the adoption of the click-to-pay checkout as more merchants, such as FreshDirect, Match.com and Saks Fifth Avenue, come on board.

Reinforcing a Foundation of Trust – During the quarter, we announced the acquisition of RiskRecon. They bring a best-in-class AI and analytics solution to help businesses of all types – merchants, financial institutions, governments and others – secure their digital assets. This is a great complement to our existing cyber security services, whether that’s on the core network and Safety Net or the expansion of our biometric and AI platforms through NuData, Brighterion and Ethoca.

Keeping an Eye to the Future – We continue to be supporters of Open Banking – especially when it’s done the right way. We’ve developed and are running a set of comprehensive solutions and services – with a foundation in data privacy and real-time payments – that work for banks, fintechs, merchants and consumers. These efforts go hand-in-hand with our progress on digital identity and the commitment for each person to own, control and share their identity credentials how they choose. Some initial pilots are underway, with more to be shared throughout the year.

Looking ahead to 2020, we expect economic growth to be fairly similar to what we saw last year. The fundamentals of our business remain strong and our ability to deliver on our strategy will be seen as we share updates in the months to come on new customer agreements, new relationships and new technologies we’re bringing to the market.

Thanks for your support of our business.

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  • Posted on Friday January 24, 2020
  • Created by Rebecca Abraham

Mastercard at World Economic Forum 2020

The leading creative force for engaging top leaders to shape global, regional and industry agendas is wrapping up. Each January, the World Economic Forum’s annual meeting aims to improve the state of our world and Mastercard, as always, is honored to be included in that conversation. This year the official theme is “Stakeholders for a …
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The leading creative force for engaging top leaders to shape global, regional and industry agendas is wrapping up. Each January, the World Economic Forum’s annual meeting aims to improve the state of our world and Mastercard, as always, is honored to be included in that conversation.

This year the official theme is “Stakeholders for a Cohesive and Sustainable World” and the World Economic Forum is looking to prioritize six key areas:

  1. Ecology: How to mobilize business to respond to the risks of climate change and ensure that measures to protect biodiversity reach forest floors and ocean beds;
  2. Economy: How to remove the long-term debt burden and keep the economy working at a pace that allows higher inclusion;
  3. Technology: How to create a global consensus on deployment of Fourth Industrial Revolution technologies and avoid a technology war;
  4. Society: How to reskill and upskill a billion people in the next decade;
  5. Geopolitics: How the ‘spirit of Davos’ can create bridges to resolve conflicts in global hotspots;
  6. Industry: How to help business create the models necessary to drive enterprise in the Fourth Industrial Revolution; and how to navigate an enterprise in a world exposed to political tensions, driven by exponential technological change as well as increasing expectations from all stakeholders.

Read more on Mastercard’s leadership on these topics:

The Path to Stakeholder Capitalism Requires Something Basic: Decency – Ajay Banga, President & CEO, Mastercard

The Geography of Gender: Where Women Work, Economies Grow – Ann Cairns, Executive Vice Chairman, Mastercard

Closing the Trust Gap: How Responsible Data Use Can Accelerate a Sustainable Society – JoAnn Stonier, Chief Data Officer, Mastercard

How to Power Inclusive Growth From the Ground Up – Shamina Singh, President, Mastercard Center for Inclusive Growth

 

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  • Posted on Tuesday January 21, 2020
  • Created by Ken Moore

How FinTechs Will Come of Age in the 2020s

When technologies and partners combine, amazing innovation can occur. If we take the example of semi-autonomous vehicles, it wasn’t one technological advance in isolation that led to the transformations we are now seeing in mobility. Instead, emerging technologies – from telematic sensors to cameras, batteries and AI – coupled with partnerships forged between existing incumbents …
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When technologies and partners combine, amazing innovation can occur. If we take the example of semi-autonomous vehicles, it wasn’t one technological advance in isolation that led to the transformations we are now seeing in mobility. Instead, emerging technologies – from telematic sensors to cameras, batteries and AI – coupled with partnerships forged between existing incumbents and new entrants enabled us to, quite literally, move forward.

That’s what the future holds for FinTechs and financial services as well. After years of FinTechs pursuing niche use cases and specific demographics on their own, promising new FinTech partnerships are forming that are transforming banking and bringing it into new territories. Enabled by API orchestration, FinTechs are embedding financial services into experience-centric, innovative solutions across the financial services ecosystem and entering into new markets.

As incumbent financial services players have realized FinTech is not a threat but rather a strategic partnership opportunity, and digital players seek to control more of the customer journey, venture funding of FinTech companies is continuing to set records. As the “original FinTech,” Mastercard is excited about the opportunity to partner with today’s emerging innovators on disruptive solutions through programs such as Start Path in the Mastercard Accelerate portfolio. Like FinTechs, we are fast, agile, growth-focused digital natives, but we also have the global reach, network of partners and local knowledge to support FinTechs at every stage of their growth journey from market entry to global expansion.

That’s why we’ve teamed up with CB Insights to look at the global state of FinTech and the top five trends to watch across geographies.

FinTech_Trends_Image

In North America, bundling will drive the future of finance

Large digital players across verticals are integrating financial services into their platforms, “unbundling” and then “re-bundling” their solutions. To enable this re-bundling, digital giants, FinTechs and incumbents are co-creating new experiences. Digital players with large customer bases are moving into financial services and looking to partner with top service providers to help them. We’ve seen this play out recently with Google’s new checking accounts and Mastercard’s partnership with Apple and Goldman Sachs to launch the hugely successful Apple Card.

As more companies move into financial services, acquiring new customers becomes more difficult and expensive. As a result, we’ve seen a new class of FinTechs emerge: banking-as-a service players who partner with digital players and other top brands to bundle banking products and services into their existing experiences rather than focusing solely on acquiring consumers directly themselves. Through Start Path, Mastercard supports such startups like Hydrogen, which enables existing financial services players and non-financial services companies to prototype, design, build and manage FinTech products in banking, savings, financial wellness and wealth.

European FinTechs are looking to acquire customers abroad

With open banking and PSD2, Europe has become a breeding ground for FinTechs, enabling the rise of challenger banks and middleware data players. Now these European challenger banks are attempting to scale internationally. Revolut, for example, has taken off in Europe with more than 7 million customers since its inception in 2015 and is partnering with Mastercard to tackle the U.S. market. European FinTech will continue to prosper from the friendly regulatory environment and investors, regulators and startups in other geographies will look to Europe as a model.

FinTechs in Southeast Asia are dueling to become the next super-app

In Southeast Asia, a rising middle class and widespread mobile penetration are creating the perfect environment for FinTechs to build and scale their financial services. Startups are capitalizing on the region’s largest internet economy in Indonesia, which has more than quadrupled in size over the last five years to reach a value of $40 billion.

Akin to what we’ve seen with super-apps such as Tencent’s WeChat, many Southeast Asian startups are building their brand in areas unrelated to financial services, such as transportation and delivery, and then expanding into payments. Some companies, including Start Path’s Nuclei, are helping banks compete with the emerging super-apps. Nuclei is building an omni-channel API platform that provides banks with the ability to offer more consumer services through the bank app.

Latin American FinTechs are lending to the underserved

While challenger banks have first gone after consumers who are crying out for innovation, there’s a growing trend in FinTech to service small and medium businesses and small merchants in developing markets. MarketUp is one such Start Path company from Brazil that offers free tools for small merchants (e.g. enterprise resource planning and point of sale), as well as a marketplace for inventory, providing an aggregated community of suppliers for big brands.

In Africa, FinTechs are building mobile-first payments applications for the unbanked

Mobile wallets and payments processing platforms are being tested in market with the hope of becoming a catalyst for financial inclusion. FinTechs are building mobile-first payment applications, and mobile network operators are extending into areas where existing financial services infrastructure can’t reach the more than 340 million unbanked adults in Sub-Saharan Africa.

TymeBank is using AI conversational assistant “Max” to reach traditionally underserved consumers in South Africa with an easy-to-access banking experience delivered on platforms they use regularly – WhatsApp and Facebook Messenger. Max acts as a financial fitness coach, helping TymeBank customers improve their credit score and use goal-based savings.

In addition, our Start Path program also has a focus on FinTechs targeting key demographics such as Kasha in Kenya. Kasha is an e-commerce platform devoted to providing women’s health, personal care and beauty products and is looking to expand its offerings specific to women’s needs through the ubiquity of the smartphone.

2020 and beyond: FinTech everywhere

Since our beginning, Mastercard has been at the forefront of innovation, and we’ve had a co-creation approach from day one. We believe in the power of partnerships and in collaborating with other digitally native, high-growth companies to build and scale new solutions that meet a need. As the partner of choice for FinTechs worldwide, we bring our global reach, our network and our local knowledge to every relationship. We view FinTech as an opportunity to offer the best digital financial experience to everyone, everywhere.

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  • Posted on Friday January 17, 2020
  • Created by Ajay Banga

The Time for Environmental Altruism is Over. 

It’s time for everyone – companies, consumers, communities – to find paths for collective action on climate change. I don’t think you need me to tell you why action on climate change is required: hectares of forests are on fire at any given time. Trillions of tons of glacial ice are melting. Temperatures are rising. …
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It’s time for everyone – companies, consumers, communities – to find paths for collective action on climate change.

I don’t think you need me to tell you why action on climate change is required: hectares of forests are on fire at any given time. Trillions of tons of glacial ice are melting. Temperatures are rising. In alternating tragedies, droughts and flooding are taking lives.

Even the most pragmatic among us must now admit severe weather and natural disasters are disrupting human welfare and prosperity. The quality and nature of our own future is deeply and inextricably linked to the health and wellbeing of our planet. If we want to keep growing and thriving as individuals, corporations or countries, we have to do a whole lot more than what is being done.

I’ve said it before and I’ll say it again: business is not philanthropy. Any socially– or environmentally-responsible initiative we take on must clearly connect to our business. The trick, however, is always in how we define those connections and track that return on investment.

The economy – local, national, global, it doesn’t matter – is a fragile organism and it absolutely thrives when the planet is healthy. Severe weather, however, disrupts supply chains, creates massive imbalances in demand, shakes confidences. This impacts us all – no matter what business we are in – but it particularly exacerbates inequality, making the biggest negative impact on those who are socially and economically vulnerable.

At this point in time, it is crucial for companies to help reduce carbon emissions by investing in energy efficient workplaces and operations, sourcing renewable energy and maintaining a sustainable supply chain. Mastercard has been working to do just that over the past few years. We source all our energy from renewable sources, our offices are green-certified, we’ve pushed for a zero-waste footprint, and we’ve partnered with Doconomy to help consumers track the carbon footprint of their purchases. But that’s still not enough. We need to do more than just negate our own footprint.

I believe where we can really make a difference at scale is by using our network effect to reach our customers and their clients. Like we have done with the World Food Program, where we raised 100 million meals in two years for them and became their largest corporate donor. Or with our financial inclusion efforts, where we are about to reach 500 million previously unbanked people. We have an incredible network of reach. We have an incredible network of partners. We can put them to work to help deliver positive impact for the environment in the form of a Priceless Planet Coalition.

This is not the first coalition to help the environment and I certainly hope it will not be the last. It is, however, an initiative that makes sense given the resources, strengths and experiences we can offer global efforts to help the environment. We see it as a platform to unite corporate sustainability efforts and make meaningful investments to preserve the environment.

We are launching the Priceless Planet Coalition with a pledge to plant 100 million trees over the next five years. Why trees? They are the best, most cost-efficient technology we have for removing and storing significant amounts of climate-warming carbon dioxide from the atmosphere. Planting trees does not replace the need for companies to reduce carbon emissions, invest in energy efficient workplaces and operational processes, source renewable energy, or adopt a sustainable supply chain. But bringing together partners to enhance their own programs, and achieve large-scale, sustained reforestation is the type of collective action we need to ensure future generations can thrive.

I believe in decency. Bringing our natural human decency to the forefront of everything we do—business especially—sets us up for success by fostering inclusion, kick-starting innovation and building trust. I’d like to believe that companies stepping up to integrate more environmentally-sustainable approaches up and down their business practices and supply chains comes from that sense of decency in all of us. But it might not matter. At this point, it’s an imperative for us all. So, whether it comes from a sense of decency, self-preservation, or business growth, count yourself in. You don’t really have a choice.

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  • Posted on Thursday December 19, 2019
  • Created by Mira Belgrave

Developing New Pathways to Catalyze Inclusive Growth

By Carlos Monteverde According to the World Economic Forum, digitalization could unlock $100 trillion in value for businesses and wider society over the next decade – but what will that look like, and who will it reach? We are seeing a number of new companies and new business models transform the way consumers gain access to …
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By Carlos Monteverde

According to the World Economic Forum, digitalization could unlock $100 trillion in value for businesses and wider society over the next decade – but what will that look like, and who will it reach? We are seeing a number of new companies and new business models transform the way consumers gain access to goods and services, and many of them may have a profound impact on financial inclusion.

The financial inclusion sector is at an inflection point, where tomorrow’s initiatives will require expanded partnerships that leverage technological change to be more customer-centric and apply new and innovative business models. Mastercard has been at the forefront of the efforts to establish and coordinate these efforts to develop digitally-enabled platforms that will engage a more diverse set of stakeholders, including the private enterprises that drive commerce in underserved communities and, in acting as “last-mile partners,” can bring more people in the formal financial system while benefitting from the efficiencies of digital payments.

Our latest paper, “The Role of a Market Organizer in Advancing Financial Inclusion,” highlights the ways in which we have worked with these stakeholders to bring a more holistic and consumer-centric approach to organizing markets which drive financial inclusion. A few of the examples we highlight are:

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  • Mastercard partnered with Levi’s, Marks & Spencer and Vanity Fair Corp to identify opportunities in garment manufacturing value chains and provide digitized wage solutions that meet factory and worker needs.

Through its research, the Better Than Cash Alliance has found that garment factories have experienced a 53 percent savings in staff time for their administrative and finance teams by shifting their wage disbursements to digital payments. In addition, it has been found that factories paying wages through digital means are five times more likely to provide appropriate social and labor practices.

  • Mastercard and Neumann Kaffee Gruppe (NKG) expanded on a pilot program to digitize payments for coffee farmers in Mexico, reaching an inflection point in terms of growth in consumers and expansion into new markets.

The system will link farmers, merchants, and banks into a modern, digital-enabled supply chain that will reduce process costs and enable NKG to reach more farmers directly. For the roughly 2,000 smallholder farmers expected to be participating by the end of coffee buying season in early 2020, it is expected that anywhere from 15-25 percent of the crop value can be saved through modern controls and electronic payments.

  • Mastercard worked with partners across various sectors in Egypt to build a robust mobile payments ecosystem that is interoperable across industries, the first nationwide open loop solution of its kind.

Through these efforts, 10 million mobile wallets have been opened by customers at 11 issuers across the country. As of the first quarter of 2019, 42 percent of Egypt’s processed transactions are powered by the digital ecosystem. With 32 cross-sector stakeholders already contributing to the systems, new use cases and value propositions are being created.

We’ve seized these opportunities to work through our partners and develop consumer-based solutions to achieve the scale necessary for commercially sustainable impact. These market organization efforts cannot be done by just any organization. Mastercard has the necessary capabilities and incentives to play this role and drive ecosystem development for impact. We invite current and future partners to this ongoing conversation as we explore ways to pursue new business models and unlock new pathways for ecosystem development, and ultimately drive commercially sustainable social impact through financial inclusion.

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  • Posted on Tuesday October 29, 2019
  • Created by Sachin Mehra

Earnings Review: A Look Back to Prepare for the Road Ahead

If you closely follow our company or are a frequent reader of this post, some of what I share today may seem familiar. After all, it was only a few weeks ago that we met with many of you at our investor day. In that meeting and webcast, we shared updates on how our work …
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If you closely follow our company or are a frequent reader of this post, some of what I share today may seem familiar.

After all, it was only a few weeks ago that we met with many of you at our investor day. In that meeting and webcast, we shared updates on how our work every day is setting the foundation to make Mastercard a much stronger, well-positioned and resilient company.

You see, it’s not just about one quarter or one conference call or one meeting when this comes together. We have carefully crafted our strategy to create a diversified portfolio of capabilities and solutions, which will help us grow the company and deliver long-term sustainable returns for our shareholders.

It’s with that view that I want to reinforce a few highlights that we shared during our call with the financial community earlier today.

In the third quarter, we continued to demonstrate strong growth. Revenue was up 16 percent and EPS increased 23 percent versus a year ago, both on a non-GAAP, currency-neutral basis. These results reflect the continued effort of our teams around the globe to deliver real solutions that help people and businesses meet real needs and solve real problems. Some examples discussed during our call include:

Issuer Relationships – Our focus in this area strengthens our relationship with the institutions who issue our cards. On the call, Ajay noted where we deepened relationships with several of these important customers, based on the combination of a way to pay safely and simply with additional services that provide value beyond the transaction. We are bringing new technologies – like our click-to-pay effort based on the EMV Secure Remote Commerce standard – to make any digital checkout as seamless and as secure as what we’re all used to in stores today.

New Partnerships and Programs – We’re strengthening our relationship with fintechs. Through Mastercard Accelerate, these partners will have easier access to the resources they need to continue to address specific consumer pain points, regardless of where they are in their own development. And, just this week, we introduced a new suite of services to help create greater efficiencies and experiences in healthcare. While most people are familiar with the HSA and FSA cards in their wallet, we are also working with healthcare providers to reduce fraud and better protect health information with biometrics.

New Payment Innovations – And, we continue to develop our capabilities in the account-to-account space. Our acquisitions – including the recent announcement of the Nets Corporate Services business – combined with investments in data analytics and expansion of our anti-money laundering solutions, have the potential to bring even greater efficiencies and a better user experience to these real-time payments.

These are just a few examples of the world-class work by our teams across the globe. We’ll have more to share early in the new year as we report our full-year performance and continue to drive toward our long-term strategy.

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  • Posted on Wednesday October 09, 2019
  • Created by Deborah Barta

Mastercard and the FinTech Innovation Lab New York: preparing fintechs for success

Innovation is at the top of Mastercard’s agenda, and here in New York’s vibrant Silicon Alley, game-changing ideas and companies are transforming the fintech landscape. For the past few years, we have participated in the FinTech Innovation Lab New York to connect with fintech startups and support their growth. Partnering with the Lab is a …
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Innovation is at the top of Mastercard’s agenda, and here in New York’s vibrant Silicon Alley, game-changing ideas and companies are transforming the fintech landscape. For the past few years, we have participated in the FinTech Innovation Lab New York to connect with fintech startups and support their growth.

Partnering with the Lab is a natural fit for us as an organization. We are committed to supporting the startup ecosystem and helping fintech companies to scale and grow. We have found that our collaboration with the Lab complements our wider fintech innovation strategy.

We have forged some great relationships with startups in the Lab. The startups we mentor through the FinTech Lab have the opportunity to meet with senior executives from a range of Mastercard subject-matter experts, functions and business units, including our marketing, data science and technology teams. We offer them mentoring and help with their positioning, with an eye to guiding them to build a more powerful market proposition. Startups from the most recent class, for example, had direct exposure to our CEO, Ajay Banga, which included the opportunity to ask him questions and share their ideas with him.

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Fintech companies will find that many members of our team came from accelerators or startups and have a deep understanding of the challenges faced in finding the right decision-makers, refining product-market fit, and pitching their propositions. Our mentors are true partners, opening the right doors and helping address the pain points in their growth and product strategies.

Fit with Mastercard’s Start Path program

One of the valuable aspects of the FinTech Innovation Lab for Mastercard is how it dovetails with our own Start Path program for later-stage tech startups. Start Path is a six-month virtual program that helps the best startups from around the globe to scale through access to Mastercard’s technology, solutions expertise and commercial partnerships.

To date, we have closely worked with over 200 startups from 118 countries through the Start Path program – with eight more joining us this month – and they have raised a cumulative $1.5 billion in capital between them since joining the program.

The FinTech Innovation Lab offers Mastercard the opportunity to spot companies that could grow into strong contenders for Start Path while they are in the early phases of development.

With our eye on helping more great startups scale, we are excited to see what the Lab has in store for 2020. Start Path is particularly interested in meeting companies with breakthrough concepts around open banking, cybersecurity, data & analytics, small business enablement and more. We also have a keen focus on connecting and collaborating with female-led startups.

As we’ve learned from our participation in the program over the years, bringing together the scale and reach of a global institution like Mastercard with the innovative thinking of startups can spark ideas that have the potential to radically alter finance and technology. Best of luck to the class of 2020 – we’re looking forward to meeting you!

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  • Posted on Thursday October 03, 2019
  • Created by Aparna Mohan

Samsung Pay Cash Launches with Mastercard

Our mobile phones have become the epicenters of our lives. Today, we connect with friends, watch shows, hail cabs, reserve restaurants, buy things and pay each other all via our mobile devices. In fact, nearly four billion people – half the global population – are expected to use their devices to pay by 2024, according …
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Our mobile phones have become the epicenters of our lives. Today, we connect with friends, watch shows, hail cabs, reserve restaurants, buy things and pay each other all via our mobile devices. In fact, nearly four billion people – half the global population – are expected to use their devices to pay by 2024, according to Juniper ResearchSamsung Card art

We’re partnering with Samsung and Netspend, a manager of prepaid and debit card programs, to launch Samsung Pay Cash, bringing that same immediacy and convenience to your mobile wallet while making it much safer than carrying a wad of bills.

Samsung Pay Cash is powered by a new virtual prepaid Mastercard and secured by our Mastercard tokenization service, which lets consumers store and use their cards without exposing their 16-digit card number. It’s the same service that already secures Samsung Pay.

And like Samsung Pay, Samsung Pay Cash works wherever Mastercard and Samsung Pay contactless payment, and magnetic stripe cards are accepted – in store and increasingly at public transit turnstiles – making it one of the most convenient and widely accepted forms of payment on the market. It’s an easy way to manage budgets, keep money within Samsung Pay and earn rewards along the way.

Samsung Pay Cash can be activated from the Samsung Pay app on all Samsung Pay-eligible mobile phones in the U.S.

 

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  • Posted on Friday September 27, 2019
  • Created by Sara Mandel

Our Shared Responsibility to Promoting Trust and Security in a Digital Age

By Alexander Niejelow The transformative role the Internet has brought to every facet of our lives is unparalleled. However, the continued realization of the benefits our digital, interconnected world offers today, and the unimaginable potential it holds for future generations is in jeopardy due to the growing frequency, scale, and impact of cyberattacks. Cyberattacks are causing ever-greater harm to people and civilian infrastructures around the world. The most damaging attacks have destroyed businesses, halted …
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By Alexander Niejelow

The transformative role the Internet has brought to every facet of our lives is unparalleled. However, the continued realization of the benefits our digital, interconnected world offers today, and the unimaginable potential it holds for future generations is in jeopardy due to the growing frequency, scale, and impact of cyberattacks.

Cyberattacks are causing ever-greater harm to people and civilian infrastructures around the world. The most damaging attacks have destroyed businesses, halted economies, and shut down hospitals. More recently, cyberattacks have taken local government services offline and threatened power grids and election infrastructure.

While governments and the private sector have invested heavily to shore up our systems to identify, protect against and mitigate the harm caused by cyberattacks, it is increasingly clear that we will collectively fail if there is not a paradigm shift in how we secure the digital ecosystem.

That’s why we have come together with Microsoft and the Hewlett Foundation to stand-up the CyberPeace Institute, an independent NGO that will set a new milestone in collective, global efforts towards de-escalating conflicts and promoting trust and stability in cyberspace.

The CyberPeace Institute’s operating objectives are centered around three core functions:

  1. Assistance: Coordinating recovery efforts for the most vulnerable victims of cyberattacks and helping vulnerable communities and organizations become more resilient to attacks
  2. Accountability: Facilitating the collective analysis, research, and investigation of cyberattacks, including by assessing their harm, and bringing greater transparency to the problem so everyone has better information to inform action
  3. Advancement: Promoting positive and responsible behavior in cyberspace, by reinforcing and advancing alignment and adherence to international laws and rules

We are redefining the rules for cybersecurity to focus on protecting the entire digital ecosystem and a global population of users, rather than discrete parts of the system. We’re doing this through:

  • The Cyber Readiness Institute and Global Cyber Alliance where we provide guidance and cybersecurity toolkits for SMBs, who make up 58% of cyberattack targets
  • We led the creation of the Cybersecurity Talent Initiative, a public-private coalition committed to fostering cybersecurity talent

Simply put – trust is the essential ingredient that underpins our ability to interact and thrive in the digital age. We are proud to stand with our co-founders and partners to take action.

 

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  • Posted on Tuesday August 20, 2019
  • Created by Michael Froman

Recognizing the Importance of a Purpose-Driven Business

Much has been written recently about the role of companies in society. At Mastercard, we believe that the ideas of profit and purpose are not mutually exclusive. Instead, the greatest impact can come when companies use their products, technology, know-how and people to deliver solutions that have make a difference in people’s everyday lives, while …
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Much has been written recently about the role of companies in society. At Mastercard, we believe that the ideas of profit and purpose are not mutually exclusive. Instead, the greatest impact can come when companies use their products, technology, know-how and people to deliver solutions that have make a difference in people’s everyday lives, while also advancing our business.

We call that doing well by doing good. GettyImages-617732908_final edit-1280x1280

That’s why we’re proud to be recognized among the top companies in Fortune’s Change the World list for the third time in the past five years. It’s a reflection of how seriously we take this sense of purpose and ingrain it in our business, our culture and our ways of working.

We’re working to ensure all people have access to the digital tools and networks that can help them reach their potential and achieve a more secure future.

It was only a few years ago that we made a commitment to help bring 500 million more people into the financial mainstream. We started the journey because we saw the societal and economic benefits of financial inclusion.

But we recognize that financial inclusion is only the first step to true economic growth. We need to build the networks that help people achieve financial security and realize their full potential in today’s dynamic digital economy. We’re focusing on driving inclusive growth because growth is not sustainable if it is not inclusive.

Being near the top of Fortune’s Change the World list is something to celebrate. It’s also an inspiration and a reminder that there’s much more work we can – and will – do.

Continue to watch this space for updates as we continue our journey and for opportunities where you can join us to deliver impactful programs and truly put the digital economy to work for everyone, everywhere.

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  • Posted on Friday August 02, 2019
  • Created by Raj Seshadri

Looking to rejoin the workforce? Mastercard has a game plan

Diversity and inclusion is a part of our DNA globally across Mastercard. We believe that diversity of thought and experience is directly connected to our success as a business. To build on our solid foundation, we continue to deepen our ability to tap into a talent pool of qualified and experienced individuals who have been …
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Diversity and inclusion is a part of our DNA globally across Mastercard. We believe that diversity of thought and experience is directly connected to our success as a business.

To build on our solid foundation, we continue to deepen our ability to tap into a talent pool of qualified and experienced individuals who have been on career break and are looking to return to the workplace to re-establish their careers.

I am pleased to share that we are opening our next round of intakes to the ‘Relaunch your Career’ program. This is designed to help people who’ve had a career break return to work.

Our program has been running since 2017 and it started with eight participants in two countries. For our second intake in 2018, we opened it up even further and had 31 participants in nine countries. Globally this year, we will have over 40 participants across 14 different countries.

Mastercard’s culture and values are a strong foundation for encouraging people to return to work after a career break, but we know that making the decision to return and transitioning back into the workplace can be tough.

Over the course of 16 weeks, this program gives candidates the opportunity to learn about our business and work on strategic projects that build on their skills and previous experience. We provide them on-the-job training, coaching, a range of tools and a buddy to support them and bring them up to speed quickly. At the end of the program, the participants are given the opportunity to continue with the company based on performance review.

Individuals seeking to enroll in the ‘Relaunch your Career’ program must have been out of the workforce for two or more years and have previous mid-level, career experience in technology, financial services, e-commerce, or professional services organizations. At Mastercard, we look for team players and relationship-builders with excellent communications and interpersonal skills.

I am very passionate about this cause and love how it helps drive diversity and empowers individuals to come back into the workplace. The program is carefully curated, providing our returnees with the tools they need to get achieve success.

We’re recruiting now. If you know any family or friends who would be interested, they can apply by visiting our Relaunch your Career Site.

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  • Posted on Tuesday July 30, 2019
  • Created by Sachin Mehra

Earnings Review: Behind the Numbers

Earlier today, we reported our Q2 financial results. We’ve continued to demonstrate strong growth as we deliver against our strategy and invest toward our long-term growth objectives. In the quarter, revenue was up 15 percent and EPS increased 17 percent versus a year ago, both on a non-GAAP, currency-neutral basis. But, it’s not just about …
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The post Earnings Review: Behind the Numbers appeared first on Global Hub.

Earlier today, we reported our Q2 financial results. We’ve continued to demonstrate strong growth as we deliver against our strategy and invest toward our long-term growth objectives. In the quarter, revenue was up 15 percent and EPS increased 17 percent versus a year ago, both on a non-GAAP, currency-neutral basis.

But, it’s not just about the numbers. Strong words for a finance guy, I realize.

Behind the numbers, we continue to see the impact that Mastercard technology is making around the world, from transforming payments at transit turnstiles to making payments safer online. Our team is thinking big, developing products and services beyond the card and establishing Mastercard as the partner of choice in the marketplace. This is helping us to deliver every day and position Mastercard for further growth.

During our call with the financial community, we shared a few highlights that reinforce this momentum:

  • It starts with a focus on our core business, where we are driving growth across our credit, debit, prepaid and commercial products. We established and deepened relationships with National Commercial Bank, the largest bank in Saudi Arabia, Despegar, a leading online travel agency in Latin America, DZ Bank, the second largest retail banking group in Germany and Nationwide in the UK.
  • Our focus on continuing to continue to diversify our business can be seen as we expand across new geographies and customers. In India, we have launched an exclusive credit co-brand program with Flipkart, the country’s largest online retailer, while also signing a new agreement with Paytm Payments Bank that covers both their issuing and acquiring businesses. Paytm will also use our Send capability to enable credit card bill payments.On the B2B front, we announced a new partnership with OpenText, where we will integrate Mastercard Track with their supplier portal to increase speed, compliance and security for business information, payments and financing in the automotive supply chain.
  • We continue to build new areas of our business, developing and acquiring additional capabilities that enable us to be an even better, more versatile partner, regardless of the type of payment. In the quarter, we announced a partnership with P27 Nordic Payments Platform that will use our Vocalink technology to provide a leading-edge real-time, multicurrency payment platform across the region.In addition, with the closing of our Transfast acquisition, we will be able to help consumers, businesses, governments and merchants make and receive cross-border payments with greater transparency and certainty. Transfast provides us with a powerful global network, reaching 90 percent of the world’s population.

We look forward to sharing even more on these points, as well as our long-term strategy, in the quarters to come.

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  • Posted on Tuesday July 16, 2019
  • Created by Francis Hondal

Taking the Journey to the Next Level

We have a traveler named Kate.  Imagine Kate is at the airport and needs a quiet place to work before boarding.  She signed up to get notifications on her phone because of her Mastercard, so learns she has free access to the lounge in her terminal with Wi-Fi.  Now when Kate boards, she can sit …
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We have a traveler named Kate.  Imagine Kate is at the airport and needs a quiet place to work before boarding.  She signed up to get notifications on her phone because of her Mastercard, so learns she has free access to the lounge in her terminal with Wi-Fi.  Now when Kate boards, she can sit back, relax and enjoy a movie.

This is the type of experience that we want to build into all of our products, to enrich the lives of our cardholders. Today, we’re excited to announce an expanded relationship with Flybits, a contextual intelligence company, to help us deliver ever richer and more personalized experiences.

According to a recent Mastercard-sponsored Harvard Business Review report, 90% of survey respondents say customers expect organizations to know their interests and anticipate their needs. This expectation—and the technology that enables it—is transforming our industry.

The consumer has a bank branch, a retailer and all of her friends in her pocket. She’s not coming to us.

We need to ensure we’re looking after her needs and delivering compelling choices through the entire end-to-end journey.

This means delivering the right message to the right person at the right time on the right device. Ultimately, the basics of marketing have been the same for decades, but the channels we have available to us and the opportunity to engage in a moment that is more relevant to the consumer are very different. For our customers—banks, retailers and others—this requires data-driven solutions that help consumers navigate their needs in a seamless way as well as an innovation service to help them deliver quickly. AR, VR, chatbots, robots and avatars are certainly not yesterday’s marketing tools!

Mastercard and Flybits share an understanding of how to use data in a consumer-centric way to deliver relevant experiences. With their mobile-based contextual marketing technology, we can take our loyalty and engagement services to the next level, creating real-time, seamless personal experiences for consumers that are also easy to implement for our customers.

Circling back to Kate our traveler, her journey doesn’t end when she boards her flight. In a perfect world, if it’s rainy when she lands, she’ll also get a notification with a taxi discount so she can get to her hotel without getting wet. This is the new age of contextual marketing. One where people get information at the right time and the right place.

You can read more about our relationship with Flybits from today’s press release.

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  • Posted on Monday July 01, 2019
  • Created by Dimitrios Dosis

A New Data Metaphor for All Seasons

A few weeks ago, I spent three days with hundreds of customers at our recent conference focused on data analytics, experimentation and innovation. Unsurprisingly, we spoke quite a bit about the power, potential and protection of data. One big takeaway? People today use a lot of metaphors as it relates to data. Data as the …
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A few weeks ago, I spent three days with hundreds of customers at our recent conference focused on data analytics, experimentation and innovation. Unsurprisingly, we spoke quite a bit about the power, potential and protection of data. One big takeaway? People today use a lot of metaphors as it relates to data.

Data as the new oil or the new gold, representing data as a commodity with a high-value price tag.

Data as the sun that shines on everything, representing data as a public good that drives universal benefits.

The data tsunami or the data deluge, representing the fact that businesses everywhere are grappling with how to turn ever-increasing volumes of data into actionable insights.

To me, the metaphors above don’t quite work. Yes, data has a clear value and benefit: to individuals and businesses. Data also has a clear owner: the individual who produces it. Actionable insights are possible, with the right partners, tools and understanding.

Ultimately, the metaphor that works for me is that we’re in the springtime of data analytics.

What does that really mean?

Data is still new and fresh. We are still in the early days of data and have endless opportunity ahead of us to do amazing things for business, for individuals, for society. We’re unlocking the power of data analytics for our customers, helping banks, retailers and others be more efficient, effective and solve real world problems with insights. With Mastercard’s Center for Inclusive Growth, we have also been supporting research and forging partnerships to accelerate the use of data science by empowering non-profit, civic and government organizations with the tools, expertise and other capabilities they need to help solve the world’s most pressing challenges – such as how communities can better prepare for hurricanes.

The world of data is just heating up. In recent years, we’ve seen the emergence of new capabilities, new fields like data science and new roles like the chief data officer position as the potential of data is taken more seriously across the public and private sectors. One capability that has emerged and impacted nearly all sectors is the ability to make products and services more relevant – or personalized – for the consumer. According to a Mastercard-sponsored survey of more than 600 executives by Harvard Business Review Analytic Services, 8 in 10 survey respondents said personalization is important to their organization’s strategy.

Umbrellas are needed to protect against spring’s stormy weather. As an industry, we need to ensure ethical data practices so data innovation has the opportunity to grow and live up to its potential. We have an obligation now to put consumer-centric guidelines in place that will keep companies on the right track and protect the interests of individuals. For instance, high-potential areas like digital identity should be guided by a principled approach, which is why we built digital identity principles that put people first. And, innovations that ensure consumer privacy, such as Trūata’s data anonymization service that allows for business analytics in full compliance with the GDPR, will be critical.

Springtime is upon us. Umbrella in hand, the time is right to partner—with customers, the public sector, fintechs and others—to make smarter, sustainable decisions with data.

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  • Posted on Tuesday June 25, 2019
  • Created by Paul Stoddart

On top of the world: The Nordic P27 payments platform project

When it comes to payments, put simply, the Nordics like to be first. The region is already leading the world in the adoption of electronic payments with less than 1 in 10 retail payments now in cash. But now Europe’s most northerly cluster of countries is turning its attention to enhancing its bank account payment …
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When it comes to payments, put simply, the Nordics like to be first. The region is already leading the world in the adoption of electronic payments with less than 1 in 10 retail payments now in cash.

But now Europe’s most northerly cluster of countries is turning its attention to enhancing its bank account payment infrastructure and improving on how its people and businesses can pay each other, under the guise of the P27 project. Of course, this is the Nordics, so real-time payments have existed domestically between banks for some time, but what’s new and quite extraordinary is the soon to be built capability to send money across the multiple markets, and across the Nordic currencies efficiently both in real-time and batch payments. Nowhere else in the world does this exist.

Through the acquisition of Vocalink, our expertise in building bank account real-time payments infrastructures has meant that we were selected as the trusted partner for the six largest banks in the Nordics who initiated the P27 project.  Our cutting-edge real time payment technology will help to connect Nordic into one regional payment area, transforming how money moves across the markets for consumers, businesses and governments.

The shift to digital is nowhere more profound than in the Nordics. Domestic real-time mobile payment solutions are already well established, and by speeding up the connectivity throughout the region means it will enable further choice and innovation in direct bank account payments, giving people quicker, more convenient and more efficient ways to safely send and receive funds.

This next generation cross border, multi-currency payment capabilities don’t just benefit consumers or businesses. This single interface will make it easier for banks to handle all payments within the Nordics and beyond and it will consolidate nine existing payment platforms into one – enabling significant efficiencies and removing duplications.

This partnership is also welcome evidence of Mastercard´s vision to drive real choice and security by being the trusted provider of new payment experiences, and to broaden its capabilities into new real-time payment flows, becoming a reality.

As we work together to build the world’s first regional real-time payments platform, I look forward to showcasing this ground breaking project and Mastercard’s own status as the world’s number one payments partner.

 

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  • Posted on Monday May 13, 2019
  • Created by Silvio Piserchia

Opportunity Honks: How to Keep the Gig Economy Growing

New Study Forecasts Double-Digit Annual Growth, But Retaining Freelancers A Constant Challenge Ride-hailing to home sharing. Restaurant delivery to babysitting. Handmade crafting to at-home coding. The global Gig economy generated USD$204 billion in gross volume in 2018, according to a new study conducted by Mastercard and Kaiser Associates which also projects double-digital annual growth over the …
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New Study Forecasts Double-Digit Annual Growth, But Retaining Freelancers A Constant Challenge

Ride-hailing to home sharing. Restaurant delivery to babysitting. Handmade crafting to at-home coding. The global Gig economy generated USD$204 billion in gross volume in 2018, according to a new study conducted by Mastercard and Kaiser Associates which also projects double-digital annual growth over the next five years.

As we grow more accustomed to the economics of sharing and enjoy the benefits of on-demand services, and as developing yet rapidly digitizing markets expand the pool of Gig workers, the value generated by the digital platforms is projected to more than double to USD$455 billion by 2023. Gig Economy

But the hustle is hard. I often hear from Gig workers about the difficulties they face separating their personal and professional lives and their struggles with uneven workflows, slow payments and lack of benefits enjoyed by traditional employees. And it’s a different but increasingly difficult hustle for the digital platforms that are driving this tremendous growth.

Both giants and up-and-coming digital platforms are competing fiercely for Gig workers, particularly when expanding to new markets where a sizeable pool of workers is needed to encourage demand by customers. And it’s a big problem in the largest Gig economy sector, transportation-related services, where attrition rates are notoriously high – as much as 68 percent for new Uber drivers,

Just as a quality pool of workers is essential to maintaining the level of customer experience that keeps consumers coming back and the company growing, a platform that supports the needs of Gig workers is critical to keeping those workers from jumping to a competitor.

Attracting and retaining freelancers means digital platforms have to work extra hard to distinguish themselves. Simpler and more streamlined onboarding are just the start.

On the wish list for many digital platforms representatives we interviewed in the study: faster and more frequent payout options to increase Gig workers engagement with the platform; loyalty packages and benefits to encourage Gig workers retention; and dedicated value added services to help Gig workers have a better visibility and control over their work.

With our technical expertise and experience navigating complex payment ecosystems, we are already putting in the hours with our partners to make this a reality. For example, hundreds of thousands of Uber and Lyft drivers now have their earnings deposited in real time using Mastercard Send technology. We’re supporting the growth of the Gig economy – and by extension, the local economies around the globe – in other important ways. In Southeast Asia, we partnered with Grab, the region’s largest offline-to-online platform, to issue virtual and physical prepaid cards from the Grab app, opening the door to the ride-sharing industry for hundreds of millions of unbanked consumers.

We’re there at every step of the journey – for every mile of the ride.

For more insights into the global Gig economy, including breakdowns by sectors and growth potential by regions, read our white paper here.

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  • Posted on Thursday May 09, 2019
  • Created by Jay Singer

Drowning in a Sea of Numbers? Mastercard and Strands Help Small Business Owners Navigate Cash Flow Management

You may have heard of the expression “drinking from the firehose.” You’ve probably experienced it – an information overload so extreme that the incoming becomes unintelligible; the press of incoming responsibilities overwhelming an already mile-long to-do list, making even the simplest task seem impossible to complete. That’s how many small business owners feel every day, …
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You may have heard of the expression “drinking from the firehose.” You’ve probably experienced it – an information overload so extreme that the incoming becomes unintelligible; the press of incoming responsibilities overwhelming an already mile-long to-do list, making even the simplest task seem impossible to complete.

That’s how many small business owners feel every day, particularly when it comes to cash flow: daily ins and outs, fixed costs, unplanned expenditures, accounts payable, accounts receivable, all a gush of information from an

enormous pool of sources. It’s no wonder that when small businesses fail, 82 percent of the time it’s due to ineffective cash flow management.

That’s why we partnered with Strands to enhance Business Financial Management (BFM), an AI-powered cash flow solution for small businesses. Our digital payments technology in the Strands BFM platform helps aggregate the daunting amount of data for easy-to-read, easy-to-understand financial analysis. It’s digital, automated and intuitive, turning a torrent of information into a navigable stream and making the seemingly impossible task of cash flow management possible for even the most novice of business owners.

MC_Strands_infographic_v5

There are a few key differentiators in BFM that make it most valuable for small business owners: first, they are able to pull inputs from other financial management tools housing a business’s data (e.g. receivables, collections and invoices) and use that information to better understand their position. By synthesizing this data, small business owners can see and understand where they’ve been, where they are and where they’re going. This is a powerful tool that can inform strategic decision making.

AI-enabled solutions also help keep things in order and on track. Through AI and machine learning, BFM can track various payment methods or invoice due dates for vendors and suppliers. Accounts payables, receivables, budgets and inventory become manageable, and small business owners get personalized alerts with various options for when and how to pay. An interactive heat map that displays spending patterns creates a visual representation of the data – another way BFM helps small business owners easily interpret and analyze a deluge of information.

Even with a profitable, sound business model, small businesses are in danger of drowning without an effective cash flow management solution. While some small businesses are only looking for short-term cash flow solutions, integrated BFM platforms can benefit those seeking predictive analytics and tailored insights, capabilities that are often overlooked by the most common banking solutions.

We saw a real opportunity to change the game for small businesses. By coupling all the features Strands has to offer with Mastercard’s proven technology (products) and scale, we can help solve the short-term financing needs of small business in real time and make a true difference in their daily operations and long-term success.

The Mastercard-Strands solution was officially unveiled on the FinovateSpring 2019 stage in San Francisco.

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  • Posted on Tuesday April 30, 2019
  • Created by Sachin Mehra

Earnings Review: Setting a Steady Course

This morning, we announced our financial results for the first quarter of the year. I’m pleased to share that we reported a solid start to the year. The numbers speak for themselves – double-digit gains in net revenue, operating income and EPS, all on a currency-neutral basis and excluding special items.  During the call, Ajay …
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This morning, we announced our financial results for the first quarter of the year. I’m pleased to share that we reported a solid start to the year.

The numbers speak for themselves – double-digit gains in net revenue, operating income and EPS, all on a currency-neutral basis and excluding special items. Flickr Photo: Mastercard Circes

During the call, Ajay and I shared examples and discussed in some detail how we continue to deliver differentiated value for our customers, consumers, businesses and governments. A few highlights that help illustrate these efforts include:

Supporting All Types of Payments – Many people are very familiar with our core credit, debit and prepaid products. We’ve made investments beyond these traditional products to help businesses and governments achieve their goals. An example of this is the past week’s announcements that our real-time payments infrastructure from Vocalink is being adopted in new markets – the Philippines and Saudi Arabia – helping these governments meet the needs of their citizens and economies.

Earlier in the quarter, we also noted plans to acquire three businesses beyond card payments. The addition of Transfast, Ethoca and Vyze is rooted in our strategy and bolsters how we support customers in cross-border account-to-account payments, fraud prevention and driving greater merchant engagement.

Innovating and Partnering – Part of innovation is thinking differently about a challenge or opportunity. Another part is working with the right partner. We’re bringing our technology and know-how to help increase the value of our shared efforts.

In today’s digital-first world, businesses and people are looking for products that fit their lives and make things easier. Earlier this month, Apple announced Apple Card with Mastercard and Goldman Sachs. This is a credit product designed for the iPhone that leverages Mastercard’s tokenization technology and gives consumers immediate access to the digital version of the card in their Apple Wallet.

Similarly, Mercado Libre, the largest e-commerce marketplace in Latin America, is using Mastercard technology to deliver greater payment safety and convenience across Brazil, Argentina and Mexico.

Extending New Opportunities – While paying with a swipe, dip or tap is second nature to us, there are many areas of the world where this is not a common experience. Electronic payments and the benefits they bring are only beginning to be realized.

This quarter, we announced partnerships and investments with Network International and Jumia in the Middle East and Africa to support the shift from cash and checks.  And, we’re working with Citibank to activate our Gateway Services, enabling their institutional customers to seamlessly receive payments from their customers.

We’re proud of what we have accomplished in the past quarter. And, I’m excited about the opportunities ahead. I’ll provide a perspective on business developments from time to time. In the meantime, continue to visit our investor website and our online newsroom for more information and updates on the latest from Mastercard.

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  • Posted on Monday April 29, 2019
  • Created by Jennifer Rademaker

Powering up Half the World: Giving Women’s Voices a Megaphone

Empowered women power the world. Women are a vital source of global growth, prosperity and innovation. Their contributions drive commerce, communities and society as a whole. Yet, women find their perspectives underrepresented in important centers of influence and still fight to get their voices heard in some of the most fundamental political, economic and cultural …
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Empowered women power the world. Women are a vital source of global growth, prosperity and innovation. Their contributions drive commerce, communities and society as a whole. Yet, women find their perspectives underrepresented in important centers of influence and still fight to get their voices heard in some of the most fundamental political, economic and cultural conversations.IMG_0417

Last week, New York City hosted the 10th annual Women in The World Summit, a platform started by Tina Brown, which gives voice to exceptional women leaders, activists and emerging icons. I was honored to attend and participate in these conversations.

Women in The World addresses the fundamental challenges faced by women around identity, education, employment, treatment in the workplace, and economic empowerment. The platform shares Mastercard’s broad approach to supporting empowerment, which is why we’ve been long-standing partners.

Together—with Women in The World and other partners—we’re making gender equality a central, guiding theme, not only in our diversity and inclusion efforts and hiring practices, but in our business strategy in general. Being part of such an organization brings a strong sense of fulfillment to my work. Here are some of my favorite examples of how Mastercard is looking to advance the journey toward gender equality around the world:

  • Mastercard in partnership with Grameen America has digitized loan disbursements to over 100,000 women entrepreneurs.
  • In partnership with the Egyptian Ministry of Social Solidarity and local mobile networks, Mastercard powers secure, digital disbursement of alimony payments, sparing divorced women the hassle and indignity of queuing monthly for cash payments.
  • Mastercard’s PayGo technology enables digital, “pay-as-you-go” access to solar power and clean water. Off-grid consumers benefit from affordable mobile payments and also build a credit history. Sustainable electricity brings significant benefits to women and children, including the ability to complete housework after sunset, take on home-based jobs and extend study hours.
  • Mastercard just celebrated the fifth anniversary of its signature education platform, Girls4Tech. The program cultivates young technology enthusiasts to help narrow the gender gap in science, technology, engineering and mathematics. This hands-on, inquiry-based STEM program has reached more than 400,000 girls (ages 8-12) in 25 countries.
  • Mastercard’s commitment to diversity and equality is reflected in equal pay for women, generous parental leave, and same-sex partner coverage. Its return-to-work program gives experienced, mid-career professionals, who took a break from their careers, an opportunity to re-enter the workplace.

When women grow, economies grow. At Mastercard, the commitment to women’s empowerment is a consistent thread through our business, products, partners and employees.  Women in the World was a strong reminder both of the progress that’s already been made, as well as the need to keep powering that megaphone!

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  • Posted on Monday December 16, 2019
  • Created by William Tsang

Mastercard SpendingPulse: ‘Tis the Season for Holiday Shopping

Retail sales are up 3.0 percent ex. auto so far this holiday season (November 1-December 6), according to Mastercard SpendingPulse, which provides insights into overall retail spending trends across all payment types, including cash and check. Retailers’ heavy digital promotional campaigns appear to have paid off, with good e-commerce sales growth levels leading into the …
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Retail sales are up 3.0 percent ex. auto so far this holiday season (November 1-December 6), according to Mastercard SpendingPulse, which provides insights into overall retail spending trends across all payment types, including cash and check. Retailers’ heavy digital promotional campaigns appear to have paid off, with good e-commerce sales growth levels leading into the Thanksgiving holiday weekend and continuing straight through Cyber Week (December 2-6).

Notably, SpendingPulse insights show that:

  • Total retail sales are in line with the 3.1 percent holiday forecast.
  • The Thanksgiving holiday weekend (Thursday–Sunday) posted a 4.8 percent year-over-year increase across retail sales, ex auto.
  • Black Friday saw total retail up 4.9 percent ex auto compared to last year.
  • Cyber Monday saw total retail gains of 7.2 percent ex. auto compared to 2018.

Black Friday Couch-Surfers Escaped the Holiday Chaos

Cold weather across the US was one factor that helped online sales post strong results on Black Friday, especially during the traditional morning doorbuster sales. Department Stores outperformed on Black Friday compared to retail overall.

Spending Pulse_combo_Black Friday


Cyber Monday E-Commerce Promotions were Merry & Bright

It’s no surprise that the day known for cyber deals was an outsized day for e-commerce. Total retail sales (in-store and ecommerce) on Cyber Monday grew 7.2 percent, with e-commerce growing at 27.6 percent. E-commerce on Cyber Monday accounted for 24.4 percent of all retail sales and significantly more for certain sectors. For instance, for Apparel, e-commerce accounted for 72.2 percent of all Apparel sales.

Cyber Week Decked the Halls with Deals

Our initial trends from Cyber Week shows a continuation of solid sales. Jewelry (+25.2%) and Apparel (+23.3%), in particular, led the way in terms of e-commerce sales growth.

“This year retail spend has been on the rise, influenced by cyber deals which continue to impact holiday spend beyond traditional days such as Black Friday and Cyber Monday,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “We’ve seen e-commerce grow 14.4% so far this holiday season*, with  Jewelry and Apparel leading the way  respectively during Cyber Week.”

As we approach the final few weeks of the holiday season, we expect to see the US consumer’s continued appetite for deals and last-minute sales – setting up for a strong final push through the 2019 holidays.

* E-commerce holiday growth inclusive of November 1 – December 6

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  • Posted on Monday December 09, 2019
  • Created by Elizabeth Cozine

With Taxi Tuesdays™ and Fareback Fridays™, Mastercard Makes Commuting Easy This Holiday Season in New York City

Cardholders who Tap & Go ® with their Mastercard can receive up to $10 in refunds with Taxi Tuesdays™ and $5.50 with Fareback Fridays™ through New Year’s Eve and New Year’s Day NEW YORK CITY – December 9, 2019 – With the holidays in full swing, commuters in New York City are somehow even more …
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Cardholders who Tap & Go ® with their Mastercard can receive up to $10 in refunds with Taxi Tuesdays™ and $5.50 with Fareback Fridays™ through New Year’s Eve and New Year’s Day

NEW YORK CITY – December 9, 2019 With the holidays in full swing, commuters in New York City are somehow even more on-the-move, whether it be to go shopping or head out to meet friends and family. And with New Year’s Eve around the corner, many people have already begun planning for the holiday, keeping in mind that it is one of the busiest days of the year.

To encourage holiday cheer and make travel around the city slightly more enjoyable, Mastercard is running two programs for cardholders – Taxi Tuesdays™ and Fareback Fridays™ – which will offer refunds on taxi fares and subway rides for those traveling around the city.

Every Tuesday through New Year’s Eve and including New Year’s Day, Mastercard will refund cardholders who tap-and-go up to $10 off a day of their yellow or green taxis that are equipped with Curb Mobility or CMT Group technology systems. On Fridays, Mastercard will refund cardholders who tap-and-go for their subway ride up to $5.50 against their travel costs for two single-fare subway rides. This offer will extend to New Year’s Day with its Fareback Eve promotion.  

These promotions further demonstrate Mastercard’s commitment to driving consumer adoption of contactless habits. Tap-and-go payments offer a quick and efficient customer experience that meets evolving consumer demands for simpler, faster, and more secure ways to pay. In working with partners across transit and retail, Mastercard is making everyday spending on commuting and shopping seamless and safe.

“Contactless technology is making every-day purchases faster and easier, while maintaining the highest level of security,” said Linda Kirkpatrick, executive vice president, U.S. Merchants and Acceptance at Mastercard. “Mastercard programs like Fareback Fridays and Taxi Tuesdays are allowing consumers to receive terrific offers while benefitting from the ‘tap-and-go’ experience.”

Cardholders should look for a Wi-Fi style logo on the front or back of their credit or debit cards to determine whether they have tap-and-go capability. Even without this symbol on their cards, Mastercard cardholders can add their debit or credit card to their mobile wallets on their contactless-enabled devices to tap and pay at the turnstile, or at merchants who accept these payments.

Refunds from the Taxi Tuesdays and Fareback Fridays promotions will take up to 28 business days from the end of each Promotional Period to appear on the Mastercard cardholder’s account statement. All qualifying trips must be paid for using either a valid contactless credit or debit Mastercard or a valid Mastercard credit or debit card through a contactless-enabled device.

To learn more, visit Taxi Tuesdays and Fareback Fridays on Mastercard’s Offers & Promotions page.

 

Mastercard Communications Contact

Biz Cozine

Email: elizabeth.cozine@mastercard.com

Tel: 914.249.2707

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  • Posted on Wednesday December 04, 2019
  • Created by Jen Langione

Mastercard Start Path Welcomes Seven Fintechs to Help Build the Future of Commerce

Investment in fintech has reached new heights with more than $39 billion invested globally last year. New opportunities abound to bring innovative technology to market through strategic partnerships – what may arise from a customer need, pain point or desire can become a reality through co-creation with corporations that can benefit from new ways of …
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Investment in fintech has reached new heights with more than $39 billion invested globally last year. New opportunities abound to bring innovative technology to market through strategic partnerships – what may arise from a customer need, pain point or desire can become a reality through co-creation with corporations that can benefit from new ways of thinking and in turn offer funding and scaling opportunities.

In Miami, seven elite startups from around the globe that are mitigating the financial impact of cyber risk for businesses, providing ecommerce platforms for women’s health and personal care, offering pay-on-demand solutions for casual dining restaurants, and much more will join the Mastercard Start Path network of companies that have gone on to work with the world’s largest banks and renowned organizations.

Mastercard Accelerate gives fintechs access to everything they need to grow quickly and offers a simple, single entry point to Mastercard’s wide portfolio of specialized programs, including its award-winning startup engagement platform Start Path. Start Path invites later-stage startups to participate in a six-month virtual program, providing opportunities to scale and secure strategic investments.

Each year, Start Path evaluates thousands of startups around the world and carefully selects about 40 companies that offer the most promising technologies and show a readiness for scale. More than 200 startups have participated in Start Path since its founding in 2014, and those companies have collectively gone on to raise $1.5B in capital.

Group pic Start Path Wave 15 news breif

After searching 210 countries and beyond, Mastercard has selected the following companies to receive tailored programs, operational support and commercial engagements within the Mastercard ecosystem:

  • BharatPe is a digital bank that enables small- and medium-sized merchants in India to accept payments.
  • Cyberwrite’s Cyber Risk SaaS platform discovers, quantifies and helps mitigate the financial impact of cyber risk on businesses worldwide.
  • Eureka AI is enabling mobile operator-to-enterprise partnerships by applying AI.
  • Hydrogen quickly builds cutting-edge digital financial applications anywhere globally using one platform.
  • Kasha is an ecommerce platform for women’s health and personal care in Africa.
  • mmuze is a voice-shopping platform for retail businesses.
  • Ziosk is a pay-on-demand solution for casual dining restaurants, enabling guests to order and pay and go when ready.

Innovation is at the heart of Mastercard’s 50-year history, and the cutting-edge technologies being pioneered by the latest group of Start Path companies align to the innovative, value-driven approach Mastercard takes to the solutions it creates and services it offers. The newest Start Path companies will be connected to a global ecosystem of banks, merchants, technology partners and digital players that are partnering to deliver transformative solutions to drive growth.

Ready to build the future of commerce together? Apply to join Start Path here.

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  • Posted on Tuesday November 12, 2019
  • Created by Bernhard Mors

Mastercard at Smart City Expo World Congress: Experience the Power of City Possible

A year ago, Mastercard launched the City Possible global network to enable cities, companies and communities to work together to advance inclusive and sustainable urban development. City Possible has made great strides to help cities #MakeTechWorkForPeople by applying the company’s best assets: innovative partnerships, leading edge technology and critical data insights, to solve urgent urban …
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A year ago, Mastercard launched the City Possible global network to enable cities, companies and communities to work together to advance inclusive and sustainable urban development.

City Possible has made great strides to help cities #MakeTechWorkForPeople by applying the company’s best assets: innovative partnerships, leading edge technology and critical data insights, to solve urgent urban challenges raised by the community. Convening City leaders for a series of knowledge sharing events across the globe in partnership with Harvard TECH, has resulted in innovative solutions that can make a meaningful impact:

  • We introduced Mastercard City Key at the US Conference of Mayors in Honolulu: A platform that combines identification, access to city services and payment functionalities in one tool to provide residents and visitors with greater convenience and security, while helping local government find efficiencies in their operations and maximize taxpayer dollars.
  • In Dublin and London, City Possible piloted a data insights tool to assess a city’s economic health at a hyper-local level. These evidence-based insights can help city leaders make more informed policy decisions linked to tourism, events and retail and improve quality of life for all.
  • We expanded our best-in-class transit solutions to over 200 cities and partnered with Kisio to co-create a Mobility-as-a-Service (MaaS) platform that fully integrates with local transit authorities. Demonstrating that a collaborative effort is the best approach to easing transit congestion and improving traveler experiences.

At this year’s Smart City Expo World Congress (SCEWC) in Barcelona (Nov 19-21), Mastercard will showcase how we are making urban life more inclusive by tapping into the superpower of collaboration. We will convene partners from the public, private, nonprofit, and academic communities to bring to life the City Possible vision through a series of tech talks, workshops, and case studies.

True to the collaborative spirit of City Possible, Mastercard will premiere a unique partnership with SCEWC to create an immersive “Plaza” that is an official feature of the conference program.

Over three days, the City Possible Plaza will feature city, industry and community leaders to share their vision in a series of on-stage conversations.

SCEWC - FULL PROGRAM

In addition, Mastercard executives will participate in a number of congress sessions:

Tuesday, November 19th:

Wednesday, November 20th:

  • 12:30 – 13:00pm: Carlos Menendez, president of enterprise partnerships will join a Tech Talk on “Pioneering New Urban Partnerships” (Expo Area, City Possible Plaza).

If you are attending Smart Cities Expo World Congress, visit the City Possible Plaza located in hall 2 (space #B300). To schedule interviews or booth tours, please contact casey.jaquez@mastercard.com.

Follow us for updates on Twitter @MastercardNews & @CityPossible.

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  • Posted on Wednesday November 06, 2019
  • Created by Seth Eisen

Mastercard Works with Ant Financial and Tencent to Enable New Payments Choices Across China for International Visitors

Beijing, November 6, 2019 — Mastercard today announced it is working with Ant Financial and Tencent, China’s two leading fintech companies, to expand choices and empower international travelers with Mastercard cards to pay via Alipay and WeChat Pay wallets in China. This provides travelers, holding 2.6 billion Mastercard cards around the world, with the ability …
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Beijing, November 6, 2019 — Mastercard today announced it is working with Ant Financial and Tencent, China’s two leading fintech companies, to expand choices and empower international travelers with Mastercard cards to pay via Alipay and WeChat Pay wallets in China.

This provides travelers, holding 2.6 billion Mastercard cards around the world, with the ability to make simple and smart payments anytime, anywhere in China, with a particular focus on solving for key tourist pain points such as paying for high-speed train and other tourism-related tickets, taxi rides, and groceries without the burden of needing to carry or use cash.

This collaboration with Ant Financial and Tencent is another key milestone towards achieving our “a world beyond cash” vision and attests to our long-term commitment to helping China boost inbound tourism and being an active partner in helping domestically establish an international, interoperable and highly advanced payments ecosystem.

According to the recently released Mastercard Global Destinations Index 2019, besides retaining its position as the top origin market for travelers globally, China is also growing as an important destination market. 41 out of 161 most popular destinations in Asia Pacific are located in China attesting to the growing volume of international tourists with their eyes set on visiting China.

About Mastercard 
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Contact:
Seth Eisen
Seth.Eisen@mastercard.com
+1 914-249-3153

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  • Posted on Monday November 04, 2019
  • Created by William Tsang

Mastercard SpendingPulse: Holiday Sales Expected to Grow 3.1% This Year

Retail sales this holiday season are expected to be a continuation of the same, in line with the solid performance seen throughout 2019. According to Mastercard SpendingPulse™, which measures consumer spending across all payment types including cash and check, we can expect overall U.S. retail sales (excluding automotive) to grow 3.1% between November 1 and …
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Retail sales this holiday season are expected to be a continuation of the same, in line with the solid performance seen throughout 2019.

According to Mastercard SpendingPulse™, which measures consumer spending across all payment types including cash and check, we can expect overall U.S. retail sales (excluding automotive) to grow 3.1% between November 1 and December 24. This is compared to the same period last year.

Key trends to watch:

  • Omnichannel expectations: This holiday season, online sales are expected to make up 14.6% of total retail sales (ex auto) as double-digit ecommerce growth continues.
  • Experience is everything: The experiential categories—such as restaurants and travel—are expected to continue their growth trend as consumers redefine the “splurge.”
  • Calendar shift: Due to a later than usual Thanksgiving holiday, there are only 26 days between Thanksgiving and Christmas this year vs. 32 days in 2018. This will cause a concentrated number of shoppers in stores on key shopping days as well as a likely increase in intensity and importance of online sales and promotional activity before and during Thanksgiving week.

Top U.S. Holiday Shopping Days by Spend – 2019

Rank Date
1 11/29/2019
2 12/21/2019
3 12/14/2019
4 12/20/2019
5 12/7/2019
6 12/13/2019
7 11/30/2019
8 12/6/2019
9 11/27/2019
10 11/23/2019
Mastercard SpendingPulse™

“Despite fewer shopping days between Thanksgiving and Christmas, the sales outlook remains positive overall,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “A shorter holiday season puts more importance on each shopping day of the season, making the role of the internet important in helping deliver consumers the omnichannel shopping experience they want.”

About Mastercard SpendingPulse:
Mastercard SpendingPulse reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.

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  • Posted on Thursday October 17, 2019
  • Created by Jennifer Stalzer

Mastercard Recognized as Top Growing Brand by Interbrand #BGB2019

Mastercard has been named the Top Growing Brand on Interbrand’s Best Global Brands 2019 report: Iconic Moves. The recognition comes with the company’s 25% increase in Brand Value, which resulted in an eight-spot leap from No. 70 to No. 62 in the top 100 rankings. Read the full press release. “The brand management playbook is …
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Mastercard_BGB_2019_SocialMediaBadge_whiteMastercard has been named the Top Growing Brand on Interbrand’s Best Global Brands 2019 report: Iconic Moves. The recognition comes with the company’s 25% increase in Brand Value, which resulted in an eight-spot leap from No. 70 to No. 62 in the top 100 rankings. Read the full press release.

“The brand management playbook is being rewritten for the digital age.  Bold moves are a must for being top-of-mind and unexpected initiatives that anticipate peoples’ latest desires are a must for staying there,” said Raja Rajamannar, chief marketing and communications officer, Mastercard. “It’s fantastic to see our efforts being recognized across all industries–it’s a validation that we are forging the right path.”

In addition to evaluating the company’s financial performance, the role the brand plays in consumer selection, and the overall strength of the brand, Interbrand recognized Mastercard for the following:

  • Demonstrating a clear understanding of the changing consumer landscape and continued growth through innovation and partnerships
  • Evolved brand identity enabling the company to maintain recognition in an increasingly digital world – including the roll out of its sonic brand
  • Consistent delivery of the Priceless platform and new sponsorships like League of Legends Esports
  • Strong employer brand recognition

For more information, visit the Interbrand Best Global Brands 2019 report site.

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  • Posted on Thursday October 17, 2019
  • Created by Alyssa Rosenblatt

Mastercard’s Principles for Blockchain Partnerships

Not a day goes by without a headline on cryptocurrency, distributed ledger and blockchain initiatives. This technology has undisputable potential and Mastercard, in line with our history of leaning into emerging tech to advance cash displacement and financial inclusion, has been working on blockchain related use cases for several years. Following our withdrawal from the …
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Not a day goes by without a headline on cryptocurrency, distributed ledger and blockchain initiatives. This technology has undisputable potential and Mastercard, in line with our history of leaning into emerging tech to advance cash displacement and financial inclusion, has been working on blockchain related use cases for several years.

Following our withdrawal from the Libra Association membership process last week, we’ve received a great deal of interest in understanding how we evaluate technologies, programs and partners that have the potential to evolve the payments industry and enhance the value we can deliver. We thought it useful to share.

We strongly believe that for digital currencies to become trusted payment instruments for consumers or businesses, it is essential that they offer stability, regulatory compliance and consumer protections.

Many of today’s 2,600 digital currencies today fail to do this.

Having operated multiple secure, safe, scalable payment networks around the world for many years, Mastercard is committed to bringing that experience to emerging blockchain networks and digital currencies. Our participation in these initiatives are guided by the same principles we apply to our own networks. They must:

  1. Provide strong consumer protection, including privacy and security of the consumers’ information and transactions;
  2. Deliver a level playing field for all stakeholders, including but not limited to financial institutions, merchants, and mobile network operators to contribute and benefit from the blockchain networks; and
  3. Operate in full compliance with all applicable laws and regulations, including those applicable to anti-money laundering, and consistent with the economic systems of the countries the network operates in.

We believe in the transformative power of blockchain. We hold the third largest number of blockchain patents and patent applications, and from our provenance solution to commercial payments, our exploration of blockchain applications span our entire business ecosystem. And with several other public and private sector crypto initiatives also in progress including our partnership with R3 focused on cross border transactions, we will maintain true to our principles as we strive to expand financial inclusion and boost global prosperity.

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  • Posted on Tuesday October 15, 2019
  • Created by Sean Hamel

Loyalty is Digital: 53% of Executives believe Omnichannel Access is Key in the Next 5 Years

Loyalty programs today need to be more than just points and miles. Today, Mastercard released “Beyond Rewards: Raising the Bar on Customer Loyalty,” a new report that reveals how exceptional customer service, digital access and ease of use have displaced economic traditional points and rewards as the most important components for building loyalty. Developed by …
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Loyalty programs today need to be more than just points and miles. Today, Mastercard released “Beyond Rewards: Raising the Bar on Customer Loyalty,” a new report that reveals how exceptional customer service, digital access and ease of use have displaced economic traditional points and rewards as the most important components for building loyalty.

HBR News Briefing Graphics - Timeline of Loyalty Strategy Factors

Developed by Harvard Business Review Analytic Services, the report highlights survey research that covers 400 executives in more than a dozen major industries around the globe including North America, Europe, Asia and South America. The Mastercard-sponsored study finds that fewer than half of survey respondents (42%) believe their organization’s customer loyalty strategy is effective—and that companies are increasingly moving to seamless, digital experiences and creating personal connections that last far longer than a points bank. In fact, more than half (55%) of respondents say they’ve updated or refreshed their loyalty strategy within the past two years, including 30 percent who did so in the past year.

“Today’s consumer has a bank branch, a retailer and all of her friends within her reach,” says Francis Hondal, president, loyalty and engagement at Mastercard. “We need to meet consumers where they are, when and how they want to engage. This means connecting them across channels in a meaningful way and bringing them high-value services.  These are the building blocks for robust, loyalty programs today and into the future.”

So what can executives and businesses do to stay ahead of the curve? There are four core areas companies can focus on, according to the study:

  • Create seamless, unique experiences: Our research shows that brands are increasingly focused on personalization and cross-industry partnerships that open more channels for consumers to earn and use rewards.
  • Deliver contextual loyalty: In addition to offering dollars and points, brands also need to build personal relationships with consumers and meet them precisely where they are. In fact, 57% of respondents say that forging emotional connections is a primary reason for investing in customer loyalty initiatives.
  • Become digital-first: Of respondents whose companies recently made changes to their loyalty strategy or are planning changes within the year, the top reason was to create a more digital experience (44%).
  • Leverage predictive analytics: Just 41% of respondents say their organization can successfully track the ROI of customer loyalty investments, and only 31% claim best-in-class loyalty measurement capabilities.

Of the other changes companies made to their loyalty programs, 40 percent added personalized offers, 30 percent added new perks and, interestingly, 25 percent looked for the personal touch by hosting events.

HBR News Briefing Graphics - Digitalization and Personal Offers are Top Changes

“At Mastercard, our brand has long been defined by experiences,” continues Hondal. “Through products like Pay with Rewards, we enable choice for cardholders to spend their points and miles anywhere, anytime where Mastercard is accepted. Through Mastercard Travel & Lifestyle Services, we also provide best-in-class travel planning and booking services, bringing cardholders simple, high value digital solutions.”

To download the full Mastercard-sponsored survey by Harvard Business Review Analytic Services, please click here.

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  • Posted on Wednesday October 02, 2019
  • Created by Jen Langione

Improving the Scale Journey for Startups

The majority of startups and corporates have the same end goal: grow through innovation. Start Path, part of Mastercard Labs, compounds the magic of startups and corporates working together through an award-winning startup engagement program. The program’s relationship-led approach is the key ingredient for its long-term success: Start Path’s global team rolls up its sleeves …
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The majority of startups and corporates have the same end goal: grow through innovation. Start Path, part of Mastercard Labs, compounds the magic of startups and corporates working together through an award-winning startup engagement program.

The program’s relationship-led approach is the key ingredient for its long-term success: Start Path’s global team rolls up its sleeves to decode complex relationships and curate subject matter experts. These relationships are the foundation for testing, piloting and learning that keeps the program’s players – budding startups and large corporates alike – at the forefront of industry-shaping developments.

The Start Path program immerses hand-picked later-stage startups in Mastercard’s global ecosystem. In addition to receiving operational support and technology expertise, the startups engage with our network of innovators and customers to address their needs and collaborate on solutions that aim to solve major challenges in payments, technology and financial inclusion today.

Mastercard Start Path Wave 14 group

The newest Start Path companies ready to join the Start Path program hail from seven nations and four continents. From our kick-off event in Dubai, today we welcome:

4ToldFintech enables financial institutions and merchants to create and manage profitable consumer and SME lending products with a smart digital lending platform in order to scale financial inclusion.

Idwall develops integrated and intelligent solutions for digital onboarding and identity validation to help companies be safer and compliant with regulatory issues.

Leal is a leading provider of data-driven marketing and loyalty solutions serving B2C companies in Latin America. 

Lipa Later is a payment option that allows consumers unlimited access to products and services as they pay for them over time. 

NopSec provides machine learning-based threat prediction and cyber risk remediation solutions to help businesses prioritize security threats and reduce cyber risks.

Warply is a native mobile keyboard that leverages on-device natural language understanding (NLU) to deliver personalized financial and retail checkout services in every context.

Previse gets B2B sellers paid, instantly. It pays the invoices received by a large corporate, on their behalf, the moment they are received, at its risk, and with third party capital. Machine learning makes it possible.

TAIGER helps organizations optimize operational efficiencies by automating complex cognitive tasks through AI.

Mastercard’s Start Path program helps startups rise to the next level by connecting them to future technology partners, end-to-end solutions and countless ways to innovate anywhere.

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  • Posted on Monday September 23, 2019
  • Created by Margaret Curran

Mastercard Celebrates and Inspires Women Small Business Owners at Create & Cultivate San Francisco

Mastercard continues its mission to spotlight and inspire women small business owners across the nation through its ongoing partnership with Create & Cultivate. The most recent stop: San Francisco. On September 21st, Mastercard and Create & Cultivate brought together aspiring entrepreneurs, growing business owners and Mastercard’s Women Business Advisory Council members for a one-day conference …
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Mastercard continues its mission to spotlight and inspire women small business owners across the nation through its ongoing partnership with Create & Cultivate. The most recent stop: San Francisco. On September 21st, Mastercard and Create & Cultivate brought together aspiring entrepreneurs, growing business owners and Mastercard’s Women Business Advisory Council members for a one-day conference to talk impact, mingle & mentor and get down to business.

BU2I6997

Shining the Light on San Francisco Entrepreneurs                                     

Small business owners are committed to their ideas and Mastercard is committed to them. To showcase how Her Ideas Start Something Priceless, Mastercard featured local San Francisco women business owners in the Mastercard Small Business Marketplace including Square at Create & CultivateTaylor Jay Collection fashion label, Oso and Me children’s apparel and accessories, Kim + Ono kimonos, Mel Rice Ceramica ceramics, Esselle SF gifts, goods, and wares, Michele Holmes Brow Studio, TinyB Chocolate and East Olivia Creative floral designs.

Tools and resources are critical to the success of any business, especially when it comes to sales. Together with Square, Mastercard powered each business owner in the marketplace, who are all Square sellers, with a contactless-enabled Square Point of Sale terminal, for a day full of seamless and secure transactions.

Driving Impact and Purpose

Whether they’re taking their side hustle full-time or growing their dream business, the impact women small business owners have on the society, community and economy is unquestionable. Mastercard’s North America Small Business Lead, Ginger Siegel, brought small business owners and Mastercard’s Women Business Advisory Council members together to discuss what it means to drive brand impact and the importance of standing for more than your product or service. Panel participants included Deepica Mutyala, Founder and CEO of Live Tinted, Payal Kadakia, Founder and Executive Chairman of ClassPass, Victoria Pettibone, Manager Director of Astia, Jennifer Marcou, Microsoft’s General Manager of Relationship Marketing & Privacy and Taylor Jay , and CEO and Founder of Taylor Jay Collection.

Fostering Mentorship and Collaboration

Mentorship is vital for both professional and personal growth and Mastercard remains committed to creating ongoing opportunities for women business owners to learn from each other and problem solve collaboratively. At the San Francisco event, the Mastercard Women’s’ Business Advisory Council members participated in the Mentor Power Hour to meet, mingle and mentor attendees on various business and personal wellness related topics and challenges.

New York is the next stop for Mastercard and Creative & Cultivate as we continue our mission to bring real, actionable insights and solutions to women business owners across the country. Follow @Mastercard to join the journey and meet business owners driving a real impact.

 


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  • Posted on Wednesday September 04, 2019
  • Created by Michelle Muslera

Mastercard Supports Bahamas Relief Efforts for Hurricane Dorian

Hurricane Dorian, the strongest storm to hit the Bahamas, struck the Abacos Island on Sunday, September 1 and stalled at Freeport through Tuesday, September 3 causing mass devastation and loss of life. Bahamas Prime Minister Hubert Minnis has referenced the aftermath as a “historic tragedy.” The Recovery and rebuilding efforts will take time, and help …
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Hurricane Dorian, the strongest storm to hit the Bahamas, struck the Abacos Island on Sunday, September 1 and stalled at Freeport through Tuesday, September 3 causing mass devastation and loss of life. Bahamas Prime Minister Hubert Minnis has referenced the aftermath as a “historic tragedy.”

The Recovery and rebuilding efforts will take time, and help is needed urgently.

Dorian

Mastercard who operates across the Bahama Islands, has announced today it will make a donation of US$200,000 to the American Red Cross and also partner with the organization, among others, to expand aid delivery.

Additionally, together with its issuing banks, Mastercard will waive any interchange related to donations through November 15, 2019 to a variety of charitable organizations supporting those impacted by the recent natural disaster.

Specific charities include:

  • Americares
  • American Red Cross
  • Doctors Without Borders
  • International Rescue Committee
  • Mercy Corps
  • Save the Children
  • World Vision
  • World Food Program USA

Mastercard employees have also raised their hands to help and the company has launched a supply and donations drive.  As part of this, the company will match every employee donation made by employees.

During difficult times like these, it’s important that we come together to help one another.  Each year, the people of the Bahamas welcome millions of people from around the world with warmth and hospitality.  The devastation will greatly impact their livelihood which predominantly comes from tourism and take years to recover.

Mastercard will continue to use the strength of our network, technology, insights, and know-how to help the communities where we live and work solve social and humanitarian challenges. Our priority as community members is focused on ensuring that much needed relief and donations make their way to the people that need them most as quickly as possible.

Join us in supporting the American Red Cross: https://www.redcross.org/donate/cm/mastercard-pub.html/

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  • Posted on Wednesday August 28, 2019
  • Created by Macy Salama

Mastercard Shines Light on League of Legends Community with Gamer Content Series

Mastercard is introducing “Together, Start Something Priceless,” a League of Legends community-driven content series showcasing unique stories of LoL players around the world who are positively impacting the community — an effort that aims to both celebrate outstanding individuals and shine a light on the real people and personalities behind the growing esports and gaming …
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Mastercard is introducing “Together, Start Something Priceless,” a League of Legends community-driven content series showcasing unique stories of LoL players around the world who are positively impacting the community — an effort that aims to both celebrate outstanding individuals and shine a light on the real people and personalities behind the growing esports and gaming industry.

Together with MOFILM, a leader in crowdsourcing and social content development, Mastercard has identified five League of Legends players from around the world — including the United States, Germany, China, France and Brazil — and will be sharing their inspiring stories on social media over the next six months. The first film tells the story of professional esports competitor Stephen Ellis (a.k.a. Snoopeh), now founder & CEO of Pipeline streaming consultants, and how he has combined his passion for LoL with an entrepreneurial spirit to help other players turn their love of the sport into a career. Future stories will highlight the LoL community; players who have overcome life obstacles with the help of LoL unlocking their full potential and showcase the game’s ever-evolving community of diverse trailblazers.

All films will be unveiled on the new @MastercardNexus Twitter channel, while Mastercard’s YouTube channel will serve as a library for all the films. Be a part of the conversation by following #TogetherWeAdvance on social. 

 

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  • Posted on Friday June 28, 2019
  • Created by Luke Shane

Mastercard Start Path Seeds Innovation between Startups and Corporates

Continued exploration across borders and technologies is how Mastercard Start Path, part of Mastercard Labs, accelerates game-changing trends into solutions that shape the future of commerce. Having evaluated 10,000 startups worldwide since its inception, the Start Path team sees first-hand how the FinTech landscape has matured yet continues to evolve in reaction to new technologies …
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Continued exploration across borders and technologies is how Mastercard Start Path, part of Mastercard Labs, accelerates game-changing trends into solutions that shape the future of commerce.

Having evaluated 10,000 startups worldwide since its inception, the Start Path team sees first-hand how the FinTech landscape has matured yet continues to evolve in reaction to new technologies and levels of competition. For example, seed and angel deal share is declining for tech startups, while Series A, B and C deals are rising significantly.

Wave 13 startups

A six-month virtual and in-person engagement program, the Start Path model supports later-stage FinTechs and startups scaling into new opportunities and markets. Participating firms benefit from access to subject matter experts across the organization and facilitated introductions to our global network of customers, which includes internationally recognized financial institutions and merchants. It is with these strategic connections, based on the startups’ and customers’ specialties and needs, where pilots begin and we break ground towards long-term value creation.

The newest Mastercard Start Path companies join nearly 200 startups located worldwide, which have raised a cumulative $1.4 billion in capital since joining the program. Today, these organizations are entering the public markets, reaching unicorn status and entering extended commercial engagements with us and our customers.

Here are the latest entrants to our network of innovators:

  • Aider is an AI-powered conversational digital assistant giving small businesses an edge from better data-driven decisions and actionable insights.
  • Ellevest is a company designed by women to get women investing in minutes.
  • FraudNet helps companies mitigate and prevent fraud. It is the only “glass-box” fraud prevention platform, offering a transparent presentation of data, real-time decisioning and machine learning.
  • Infinicept helps software companies monetize payments with Payment Facilitator in a Box™, a merchant underwriting and back office platform that can work with any bank, processor or gateway.
  • Konsentus provides financial institutions (FIs) with identity and regulatory checking services of third-party providers (TPPs) to ensure FIs are PSD2 open banking compliant.
  • Moneythor develops software providing more intelligent and contextual digital banking for customers and enhanced marketing and analytics for financial institutions.
  • Nuclei is building a global omni-channel digital banking platform, which enables the banks to build an ecosystem and deliver seamless experiences to their customers.
  • SURE Insurance provides a SaaS platform, CRM, and developer tools that power global insurance companies, consumer brands, and financial institutions to distribute and service any insurance program digitally.
  • TruRating is a flexible, multi-channel solution for engaging with customers and the world’s first point-of-payment customer rating service.
  • ZigZag is an end-to-end logistics SAAS platform helping merchants with customer returns, globally.

The Start Path equation: scale for startups; acceleration for banks and merchants; and powerful results together.

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  • Posted on Monday June 17, 2019
  • Created by James Issokson

It’s Time to Enable People to Use Their True Name on Cards

For many in the LGBTQIA+ community, the name on their credit, debit or prepaid card does not reflect their true identity. As a result, for the transgender and non-binary communities in particular, the card in their pocket can serve as a source of sensitivity, misrepresenting their true identity when shopping and going about daily life. …
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For many in the LGBTQIA+ community, the name on their credit, debit or prepaid card does not reflect their true identity. As a result, for the transgender and non-binary communities in particular, the card in their pocket can serve as a source of sensitivity, misrepresenting their true identity when shopping and going about daily life.

Today, Mastercard is making a commitment to address this challenge by introducing the True Name™ card. We are working with partners to create a product, as well as a sensitive and private process free of personal questions, that will allow for true names, not deadnames, to appear on cards without the requirement of a legal name change. This will ease a major pain point for the transgender and non-binary community.

Mastercard calls on the industry to apply these standards for everyone, ensuring a way for people’s financial products to reflect their true identity.

Overall, nearly one-third (32%)* of individuals who have shown IDs with a name or gender that did not match their presentation reported negative experiences, such as being harassed, denied services, and/or attacked. As such, many transgender individuals choose to forego the cost, complexity and anxiety associated with official name and gender changes. Until now, this discrimination has carried through to their cards and payment mechanisms.

In a panel discussion on Monday with the New York City Commission on Human Rights, Mastercard unveiled this initiative and is working to bring the True Name card to market.

“We are allies of the LGBTQIA+ community, which means if we see a need or if this community is not being served in the most inclusive way, we want to be a force for change to help address and alleviate unnecessary pain points,” said Randall Tucker, Chief Diversity and Inclusion Officer for Mastercard. “This translates not only for our Mastercard employee community but for our cardholders and the communities in which we operate more broadly. Our vision is that every card should be for everyone.”

* Source: James, S. E., Herman, J. L., Rankin, S., Keisling, M., Mottet, L., & Anafi, M. (2016). The Report of the 2015 U.S. Transgender Survey. Washington, DC: National Center for Transgender Equality.

 

 

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  • Posted on Thursday June 06, 2019
  • Created by Macy Salama

Cannes Lions: Mastercard’s Multisensory Brand Immersion with Special Guest Lang Lang

The world continues to transform at an incredible pace impacting everything around us – including how consumers interact with brands. The IoT, 5G, AI, wearables and the rise of voice technologies are pushing the boundaries of what we can see and hear, leading us to more personalized, immersive and sensory driven experiences. Reimaging how the …
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The world continues to transform at an incredible pace impacting everything around us – including how consumers interact with brands. The IoT, 5G, AI, wearables and the rise of voice technologies are pushing the boundaries of what we can see and hear, leading us to more personalized, immersive and sensory driven experiences.

Reimaging how the senses – sight, sound, smell, taste and touch – can play a role in branding opens up new opportunities and dimensions of how the world interacts with brands. Mastercard Chief Marketing and Communications Officer Raja Rajamannar, takes to the Cannes Lions Debussy Stage on Tuesday, June 18 to share the rationale behind the company’s multisensory brand reinvention – including its move to become a symbol brand and the launch of its sonic identity — and why every brand marketer needs to rethink their brand strategy for the digital age.

Renowned Chinese concert pianist and composer Lang Lang will join Rajamannar on stage for a special performance to demonstrate the power of sound.

“Multisensory brand expressions are going to play an unprecedented role in our lives, and I am thrilled to have Lang Lang join me at Cannes Lions to remind and inspire us all to rethink what is possible,” Rajamannar said. “If a brand appropriately connects with consumers using all five senses they will really be able to genuinely get in the hearts and minds of people.”

 

In addition to Tuesday’s mainstage presentation, Mastercard will be present in a number of important discussions around gender equality and data & technology. Full schedule below:

Monday, June 17

  • 2:15 p.m. – 2:45 p.m.: Panel, ANA #SeeHerInSports at the Martinez Hotel

Tuesday, June 18

Thursday, June 20

Follow @MastercardNews and @RajaRajamannar on twitter for updates.

 

 

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  • Posted on Monday June 03, 2019
  • Created by Derek Ho

Mastercard Receives Asia-Pacific Economic Cooperation Privacy Certification

Today, we’re excited to announce that Mastercard has received certifications under the Asia-Pacific Economic Cooperation (APEC) Cross Border Privacy Rules system and the Privacy Recognition for Processors system. Mastercard is now one of the few companies that have both implemented Binding Corporate Rules approved by the EU data protection authorities, and achieved the APEC certifications. …
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Today, we’re excited to announce that Mastercard has received certifications under the Asia-Pacific Economic Cooperation (APEC) Cross Border Privacy Rules system and the Privacy Recognition for Processors system. Mastercard is now one of the few companies that have both implemented Binding Corporate Rules approved by the EU data protection authorities, and achieved the APEC certifications.

“Mastercard’s APEC privacy certifications are a significant external recognition of the company’s data privacy leadership as an accountable and trusted organization,” said Bojana Bellamy, president of the global privacy think tank Centre for Information Policy Leadership (CIPL).  “Mastercard also demonstrates how the leading global companies can build and implement comprehensive privacy program and controls that work both in the APEC and the EU.”

Designed to help build trust in the data ecosystem and help companies identify qualified and accountable service providers, the certifications demonstrate the company’s continued commitment to protecting the privacy and data integrity of our partners and cardholders.

In order to obtain the certifications, companies must have privacy policies and practices that are consistent with the APEC Privacy Framework. Mastercard’s privacy practices were reviewed and certified as compliant with the CBPR and PRP program requirements by TRUSTe, an APEC approved accountability agent in the United States.

“Privacy and data protection are at the core of our business and embedded into the design of all our products and services,” said Caroline Louveaux, Mastercard’s chief privacy officer.  “Our APEC certifications will serve as another confidence driver for our partners.”

For more information on the APEC systems, please visit: http://cbprs.org.

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  • Posted on Wednesday May 22, 2019
  • Created by Chaiti Sen

Commutes are Set to Become Easier and Faster for Portland-Vancouver Region Transit Riders

At a time when we can do almost anything with a click, tap or swipe, there is nothing more frustrating than fumbling around to find a ticket to pay for a ride. Tapping your transit fare card or iPhone to get around a city is now a reality for commuters in the Portland-Vancouver metropolitan area. The region’s largest transit provider, …
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At a time when we can do almost anything with a click, tap or swipe, there is nothing more frustrating than fumbling around to find a ticket to pay for a ride. Tapping your transit fare card or iPhone to get around a city is now a reality for commuters in the Portland-Vancouver metropolitan area. The region’s largest transit provider, TriMet, is ensuring a ride on its bus lines and MAX Light Rail, as well as C-TRAN buses and the Portland Streetcar, is as simple as tapping to go. Using Mastercard token services, commuters can add a Hop card to their mobile wallet and load funds with complete peace of mind.

Mastercard_Portland_phone_loop_052119

Starting today commuters in the Portland, Oregon and Vancouver, Washington area can add a digital Hop Fastpass transit fare card to their iPhone or Apple Watch to tap and ride. Commuters will be able to add a card purchased through the Hop Fastpass App to Apple Wallet and simply tap their iPhone or Apple Watch to board the area’s public transportation.

In 2017, TriMet enabled all Hop electronic fare card readers to accept contactless bank cards and credit and debit cards in Apple Wallet to ride buses, trains and streetcars. For riders, this meant that there was no time wasted buying fare at the ticket machine, making an extra trip to the store for a pass or holding up the bus while getting change – and no more funds lost on unused tickets. For TriMet and its transit partners, this means reducing barriers for customers.

“TriMet has long been a leader in the transit industry, focused on the customer experience and ways to simplify riding transit,” said TriMet General Manager Doug Kelsey. With Hop Fastpass, the first transit fare card in the US to launch in Apple Wallet, riders in the Portland-Vancouver area can simply tap-and-go by holding their iPhone or Apple Watch near a Hop a reader.”

TriMet’s transit services eliminate 210,000 daily car trips and save over $150 million per year in congestion costs.

“This is a fast-paced world and it’s important that we enable cities to keep pace with their commuters,” says Linda Kirkpatrick, EVP, US Merchants and Acceptance at Mastercard. “We’re thrilled to bring our technology to solve new problems, and by doing so hope to take some of the frustration out of the daily commute.”

Partnering with cities, transit agencies and technology companies, Mastercard has been architecting flexible transit solutions for almost a decade – and is leading the next generation of integrated mobility services.

For more information, please check out Mastercard’s Smart Cities initiative to see how we are bringing collaborative and connected approaches to urban development.

Mastercard Communications Contact

Chaiti Sen

Email: chaiti.sen@mastercard.com

Tel: 914.263.6542

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  • Posted on Wednesday May 08, 2019
  • Created by Macy Salama

Mastercard at Smart Cities New York: Urban collaboration for more inclusive cities

Today, more than half of the global population live in cities, and by 2050 that number is estimated to rise to close to 70 percent. With this exponential growth, city leaders across the United States and around the world are actively planning for their city’s future, creating opportunities and advancing inclusive local economies. At this …
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Today, more than half of the global population live in cities, and by 2050 that number is estimated to rise to close to 70 percent. With this exponential growth, city leaders across the United States and around the world are actively planning for their city’s future, creating opportunities and advancing inclusive local economies.

At this year’s Smart Cities New York conference, Mastercard will showcase how we are creating more connected and inclusive urban experiences with our city and technology partners.

This spirit of partnership is the inspiration behind City Possible, an initiative pioneered by Mastercard that brings together cities, companies and communities from all over the globe to identify common challenges and solutions.

At the City Possible Urban Park, we will host a series of Tech Talks with public sector and industry partners (see schedule below) – featuring Tech-Talks-Schedule_FINALcollaborative efforts designed to accelerate inclusive growth.

An immersive contactless transit showcase will also demonstrate how Mastercard is scaling urban solutions to help more than 150 cities around the world offer residents and visitors a seamless experience when travelling to and across a city.

Mastercard at Smart Cities New York – Schedule 

Panel discussions (Pier 36, 299 South St, New York, NY 10002)

  • Tuesday, May 14, 1:30pm: Miguel Gamino, executive vice president for Global Cities will participate in a panel on “Future of Mobility: Inclusive Urbanization” | Main Stage
  • Wednesday, May 15, 10:30am: Miguel Gamino, executive vice president for Global Cities will join a panel on “Closing the Loop: Advancing a Circular Economy: Sustainable, circular, and clean energy economies” | Stage Two
  • Wednesday, May 15, 3:10pm: Alexander Niejelow will be speaking on a panel on “Transformative Technologies: Innovating to Bring Cyber Security to All” | Main Stage

Tech Talk Schedule – City Possible Urban Park:

Tuesday May 14th

10:45 – 11:10am    Future of Mobility: Matt Blanks, Mastercard (M), Karina Ricks, Pittsburgh, Steve Taylor, Lyft, Pacome Lesage, Kisio, Alexander Baldy, Sao Paolo Transport Secretary

12:00 – 12:30pm    Digital Human Rights: Steve Tae, Mastercard (M), Sergio Fernandez de Cordova, PVBLIC Foundation, Josh Breitbart, NYC, Ger Baron, Amsterdam

12:45 – 1:10pm      Different Cites: One Superpower of Collaboration: Maddie Callis, Mastercard (M), Miguel Gamino, Mastercard, Mark Petit, Akron OH, Sanna-Mari Jantti, Helsinki, David Ricketts, Senior Innovation Scholar, Technology & Entrepreneurship Centre at Harvard (TECH)

2:15 – 2:40pm        Technology for Urban Resilience: Sandy Fernandez, Mastercard (M), Patricia Purcell, UN GC, Paula Pagniez, WTW

Wednesday May 15th

10:45 – 11:10am     Unlocking Potential: Infrastructure, Innovation and Inclusion: Arturo Franco, Mastercard (M), Marcela Escobari, Brookings, Mayor Benjamin of Columbia SC, Matt Watcher, Erie EDC PA

12:00 – 12:35pm     Data Insights for Economic Development: Mark Klupt, Mastercard (M), Nicola Graham, Smart Dublin, Eyal Fender, Zen City, Sapan Shah, Mastercard

12:45 – 1:30pm       Women in Smart Cities: Maddie Callis, Mastercard (M), Alice Charles, WEF, Liora Shechter, Tel Aviv

If you are attending Smart Cities New York, visit the City Possible Urban Park located near the Main Stage. To schedule interviews or booth tours, please contact Nicola.Hammond@mastercard.com.

Follow us for updates on Twitter @MastercardNews & @CityPossible.

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  • Posted on Thursday March 14, 2019
  • Created by Luke Shane

Seven Newest Start Path Startups Ready to Reshape Future of Commerce with Mastercard

The world’s most promising startups and FinTechs today move like Mastercard – in microseconds. We may be different in size, but there are many more similarities than differences, which we witness through Start Path. The award-winning startup engagement program relentlessly scours the globe for firms that offer promising payments technologies and show a readiness for …
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The world’s most promising startups and FinTechs today move like Mastercard – in microseconds. We may be different in size, but there are many more similarities than differences, which we witness through Start Path.

The award-winning startup engagement program relentlessly scours the globe for firms that offer promising payments technologies and show a readiness for scale. After searching around its presence in 210 geographies and beyond, Mastercard and seven startups are descending upon Dublin this week to ignite their collaboration. Together, we will set a blueprint for the next six months between tailored programs, operational support and commercial engagements with the Mastercard ecosystem.

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The newest Mastercard Start Path companies join a network of more than 190 that, through Start Path participation, have gone on to raise more than $1.2 billion in capital and now work with some of the world’s largest banks and widely renowned organizations.

  • Fligoo uses AI, machine learning and big data with a focus on behavior analysis and prediction.
  • LendingFront offers sophisticated and cloud-based small business lending software.
  • mfarmPay is an AI-driven lending solution for African farmers.
  • Monsoon CreditTech enables lenders to use advanced machine learning on a range of traditional data and alternate data to make informed credit decisions.
  • Segasec provides early intelligence for upcoming cyberattacks and defends against hacking threats.
  • Veridium‘s multi-factor authentication solutions use biometrics to safeguard your enterprise’s most critical assets.
  • Voca.ai has created a human-friendly agent that has been proven to increase revenue and customer satisfaction for call centers.

The diverse technologies comprising the latest Start Path wave is a snapshot of the nearly 10,000 startups and FinTechs connected to Start Path since its founding in 2014. It also shows how, through Mastercard Labs, we partner successfully to explore new technologies, accelerate new concepts and deliver transformative growth and change to the commerce landscape.

Startups ready to take their next step forward can apply to join us at www.startpath.com.

 

 

 

 

 

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  • Posted on Monday March 04, 2019
  • Created by Macy Salama

Sharing Our Passion, Action and Impact in Austin

Eighty percent of people believe brands have the power to affect positive change. At Mastercard, we share this belief and relish opportunities to work with fellow creatives, innovators and thought leaders to put it into action. This year in Austin, a place and time where some of the foremost minds in music, film, visual and …
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Eighty percent of people believe brands have the power to affect positive change. At Mastercard, we share this belief and relish opportunities to work with fellow creatives, innovators and thought leaders to put it into action. This year in Austin, a place and time where some of the foremost minds in music, film, visual and interactive arts will assemble, Mastercard will be on-hand sharing ideas on how companies can make a difference in the world.

Our delegation of executives and experts will take part in a range of activities, performances and presentations, highlighting the power of passions and partnerships. We will showcase new dimensions for our brand and share how we’re pushing the envelope in driving social good through our business.

Join us during the festivities, March 8 -17 in downtown Austin, TX, for a first-hand look at how Mastercard is evolving its business and brand to deliver impact for customers.

Driving Impact: From brand transformation to partnerships and inclusive cities 

We will have a powerhouse lineup of Mastercard executives that will be participating in keynotes, panel discussions and special events covering topics from how to create truly digital brands for truly digital consumers, to how smarter cities can create equal opportunity for all.

Here’s a rundown of what’s in store:

Saturday, March 9

  • 3:30 p.m. – 4:40 p.m.: Miguel Gamino, executive vice president for global cities, will participate in a panel on “Unleashing cities’ collective superpower” at the Hilton Austin Downtown (Salon B)
  • 3:30 p.m. – 4:30 p.m.: Shamina Singh, president of Mastercard’s Center for Inclusive Growth, will participate in a panel titled “Can business defend LGBTI rights under fire?” at the JW Marriot (room 203- 304)
  • 5:00 p.m. – 8:00 p.m.: Colleen Taylor, executive vice president, New Payments Business for North America, will be participating in a speak slot session titled “Be Fearless” at Parkside

Sunday, March 10

  • 9:00 a.m. – 10:00 a.m.: Miguel Gamino, executive vice president for global cities, will participate in a panel on “How smart city programs are transforming American cities” at the Kansas City Interactive Hub in Maggie Mae’s
  • 3:30 p.m. – 4:30 p.m.: Raja Rajamannar, Mastercard chief marketing and communications officer, will be leading a solo keynote about “Reimage storytelling through tech and experiences” at the Fairmount (Congressional A)
  • 3:30 p.m. – 4:30 p.m.: Ginger Siegel, vice president, Market Product Management, will be participating at a pop-up panel with Create & Cultivate at The Allan House

Monday, March 11 

  • 9:30 a.m. ‑ 10:30 a.m.: Parag Mehta, executive vice president, Mastercard Center for Inclusive Growth, will participate in a dual panel titled “Can the private sector solve inequality? #RethinkCSR” at The Line (Ballroom 1)

Wednesday, March 13 

  • 1:00 p.m. – 2:00 p.m.: Raja Rajamannar, Mastercard chief marketing and communications officer, will be participating in a fireside chat titled “Connecting people through their passions – technology as the key for new collaborations” with co-presenter Bjorn Ulvaeus from ABBA at House of Scandinavia on the outside stage.

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  • Posted on Thursday February 21, 2019
  • Created by Rose Beaumont

Mastercard at #MWC19: Trusted Life Connections

As our lives continue to be more digitally connected and interactive, the way we use and consume products, services and brands is no longer a simple exchange, but a relationship we build. Trust lies at the centre of every relationship; but who and how we trust is changing, and the way we build trust is …
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As our lives continue to be more digitally connected and interactive, the way we use and consume products, services and brands is no longer a simple exchange, but a relationship we build. Trust lies at the centre of every relationship; but who and how we trust is changing, and the way we build trust is evolving. From making a payment to sharing information in the digital and physical worlds, safety and security are table stakes, while connections and understanding are the new currency.

Join us from Monday, February 25th to Thursday 28th in Barcelona (Hall 5, Stand 5D61) to learn more about how Mastercard’s innovative products and services are building trusted life connections to help people get from ‘to do’, to ‘done’ in a way that gives them freedom of choice, ultimate ease and total peace of mind.

Among the senior executives available for briefings in Barcelona, are:

Ann will be available to offer business insights and is specifically interested in the topics of inclusion, the power of partnerships and trust

  • Jorn LambertExecutive Vice President, Digital Solutions

Jorn is responsible for our relationships with the tech players – from device makers to telcos and social networks

  • Tara NathanExecutive Vice President, Humanitarian & Development 

Tara and her team work with partners in the Humanitarian & Development space

Raja will be in Barcelona to talk about the newly launched sound of Mastercard as well as offering his expertise to a judging panel in the Health Tech showcase

  • Bart WillaertExecutive Vice President, Market Solutions and Deployment

Bart can talk about Mastercard’s overall digital strategy and more specifically about our Engage program

  • Paolo BattistonExecutive Vice President, Digital Payments & Labs, Europe

Paolo is responsible for the management and development of emerging payment products across Europe, including e-commerce, m-commerce, p2p payments, contactless and inControl.

Among the highlights at this year’s Mobile World Congress:

  • Our stand will feature an immersive commerce shopping experience, cardless ATM withdrawal via mobile, financial inclusion concepts for developing markets, wearable devices showing the wealth of new choices for consumers for how they want to pay plus security solutions designed to protect against fraud in ecommerce, and much more.
  • Monday 25th February: Ann Cairns, Mastercard Vice Chairman will be the opening keynote speaker for the Ministerial Programme with a talk on Redefining Inclusion
  • Monday 25th February: Jorn Lambert, Executive Vice President, Digital Solutions will take part in the Digital Transformation: Reinventing your Customer Relationships session
  • Wednesday 27th February: Raja Rajamannar, Mastercard Chief Marketing & Communications Officer and President, Healthcare will open the Partnering for Impact: Health-Tech Innovation Showcase then judge new start-up pitches
  • Thursday 28th February: Tara Nathan, Executive Vice President, Government and Development will take part in The Future of Digital Humanitarian Response: Partnership & Innovation debate
  • Thursday 28th February: Rose Beaumont, Senior Vice President, Business Enablement & European Communications will lead a panel discussion on Innovation at the Women4Tech Summit

Be sure to visit the Mastercard Engagement Bureau and follow @MastercardEU on Twitter for updates throughout Mobile World Congress 2019.

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  • Posted on Friday February 08, 2019
  • Created by Julia Monti

Mastercard SpendingPulse: Love for Experiences Is in the Air this Valentine’s Day

Restaurants and Hotels expected to see strong sales growth Valentine’s Day is a holiday known for its roses, chocolate, jewelry and, increasingly, experiences like eating out and travel, according to Mastercard SpendingPulse™, which provides insights into overall retail spending trends across all payment types, including cash and check. An analysis of U.S. retail spending trends …
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Restaurants and Hotels expected to see strong sales growth

Valentine’s Day is a holiday known for its roses, chocolate, jewelry and, increasingly, experiences like eating out and travel, according to Mastercard SpendingPulse™, which provides insights into overall retail spending trends across all payment types, including cash and check.

An analysis of U.S. retail spending trends in the week leading up to and including Valentine’s Day found that 2019 could see another positive sales performance, with experiential spending on restaurants and hotels expected to see solid growth.

Other key findings for the pre-Valentine’s Day sales week of February 8 to 14, compared to the same period in 2018:

  • Spending on experiential gifts is expected to continue to grow.
    • For restaurants, retail sales could increase 5.4% to $15.3 billion.
    • Hotels sales may increase 9.0% year-over-year to $1.4 billion.
  • More traditional Valentine’s Day gifts like jewelry and luxury goods may see less traction this year.
    • Jewelry sales are expected to decrease this year to $1.1 billion. This follows a surge in 2018 (compared to 2017) of 26.9 percent.
    • Luxury sales could be roughly flat (down just .4%), generating $250 million.
  • Retail sales growth for Valentine’s Day has seen its ups and downs in recent years, with a noteworthy dip across the board in 2017 due to several factors. Impacts included weather, the day of the week the holiday fell on and overall economic confidence.
  • Last year, tax cuts and larger corporate bonuses coupled with a favorable employment environment led to positive growth in all of the sectors measured (restaurants, jewelry, hotel and luxury).

About Mastercard SpendingPulse:

Mastercard SpendingPulse reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.

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  • Posted on Wednesday December 12, 2018
  • Created by Julia Monti

Cheers! Mastercard Unveils Top Destinations For Dining & Shopping

Home might be where the heart is, but travel opens the door to two of life’s biggest pleasures: dining and shopping. With Global Destination Cities Index: Indulgences, Mastercard takes a deep dive into where visitors spend the most on dining and shopping around the world. The Mastercard Global Destination Cities Index ranks 162 cities in …
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Home might be where the heart is, but travel opens the door to two of life’s biggest pleasures: dining and shopping. With Global Destination Cities Index: Indulgences, Mastercard takes a deep dive into where visitors spend the most on dining and shopping around the world.

The Mastercard Global Destination Cities Index ranks 162 cities in terms of total international overnight visitors and the amount spent by visitors in the destination cities in 2017. With Mastercard Global Destination Cities Index: Indulgences, we look at the amount spent within those cities on dining and shopping. The amount isn’t insignificant, nor is the impact those dollars have on cities’ local economies and the wallets of travelers who go there.

TOP CITIES FOR DINING (FOOD & BEVERAGES)

Whether it be Emirati Harees in Dubai, paella in Palma de Mallorca, pad Thai in Bangkok or champagne in Paris, people are eating—and spending—in these four cities more than any others. Cities such as Singapore and London are also in the top 10 for overall food and beverage spend, but it’s worth noting that travelers are spending a lower percentage of their travel budgets on food in those cities (12.9% and 17.6%), respectively.

Top Global Cities for Dining, Ranked by Dollars Spent
  City 2017 Expenditure on Food & Beverage (US$ billions) 2017 Expenditure (US$ billions) 2017 Share of Overall Expenditure Spent on Food & Beverage
1 Dubai, UAE $5.94 $29.70 20.0%
2 Palma de Mallorca, Spain $3.78 $11.96 31.6%
3 Bangkok, Thailand $3.37 $16.36 20.6%
4 Paris $3.20 $13.05 24.5%
5 New York $3.20 $16.10 19.9%
6 London $3.08 $17.45 17.6%
7 Santa Cruz de la Palma, Spain $2.44 $8.43 28.9%
8 Tokyo $2.41 $11.91 20.3%
9 Istanbul $2.23 $6.75 33.0%
10 Singapore $2.20 $17.02 12.9% 

 

Top Global Cities for Dining, Ranked by Share of Overall Expenditure Spent on Food & Beverage
  City 2017 Expenditure on Food & Beverage (US$ billions) 2017 Expenditure (US$ billions) 2017 Share of Overall Expenditure Spent on Food & Beverage
1 Dublin $.80 $2.22 36.0%
2 Stockholm, Sweden $.40 $1.19 34.0%
3 Bogota, Colombia $.23 $.68 33.6%
4* Sao Paulo $.42 $1.27 33.3%*
4* Rio de Janeiro $.26 $.79 33.3%*
5* Istanbul & Antalya, Turkey $2.23 $6.75 33.0%*
5* Antalya, Turkey $1.96 $5.94 33.0%*
6 Malaga, Spain $.84 $2.62 32.2%
7 Montreal $.56 $1.73 32.2%
8 Palma de Mallorca, Spain $3.78 $11.96 31.6%
9 Vienna $.62 $1.99 31.0%
10 Lisbon, Portugal $.64 $2.09 30.9%

* Data available at the national level only

TOP CITIES FOR SHOPPING

GDCI: Indulgences reveals that travelers are also spending big in Dubai and London when it comes to shopping, whether purchasing clothes, souvenirs or other goods. That said, visitors to London, Seoul and Johannesburg, in particular, might want to bring a bigger suitcase. International travelers to all three are spending at least 40 percent of their travel budgets on shopping.

Top Global Cities for Shopping, Ranked by Dollars Spent
  City 2017 Expenditure on Shopping (US$ billions) 2017 Expenditure (US$ billions) 2017 Share of Overall Expenditure Spent on Shopping
1 Dubai, UAE $8.91 $29.70 30.0%
2 London $8.54 $17.45 49.0%
3 Makkah, Saudi Arabia $5.76 $18.45 31.2%
4 Tokyo, Japan $5.13 $11.91 43.1%
5 Singapore, Singapore $4.70 $17.02 27.6%
6 Bangkok, Thailand $3.75 $16.36 22.9%
7 Seoul, Korea $3.42 $7.21 47.4%
8 New York $3.40 $16.10 21.1%
9 Kuala Lumpur, Malaysia $2.69 $8.59 31.3%
10 Paris $2.42 $13.05 18.5%

 

Top Global Cities for Dining, Ranked by Share of Overall Expenditure Spent on Shopping
  City 2017 Expenditure on Shopping (US$ billions) 2017 Expenditure (US$ billions) 2017 Share of Overall Expenditure Spent on Shopping
1 Bloemfontein, South Africa $.11 $.17 64.4%
2 Polokwane, South Africa $.46 $.76 60.1%
3 Warsaw, Poland $.42 $.70 59.8%
4 Copenhagen, Denmark $.91 $1.61 56.7%
5 Johannesburg, South Africa $1.10 $2.14 51.5%
6 Nelspruit, South Africa $.19 $.39 49.4%
7* London $8.54 $17.45 49.0%*
7* Edinburgh, United Kingdom $.61 $1.24 49.0%*
8 Chiba, Japan $.23 $.48 47.8%
9 Seoul, Korea $3.42 $7.21 47.4%
10 Osaka, Japan $2.26 $5.21 43.4%

* Data available at the national level only

There are eight cities on the top list for dining and seven cities on the top list for shopping that are also a part of the Mastercard Priceless Cities experiential travel platform where travelers from over 90 countries can access unique and unforgettable experiences in over 40 cities around the world.

“Whether at home or on the road, nothing brings people together like food. It’s an experience like no other, allowing people to connect with the culture, history and unique flavor of each place they visit,” says Monica Biagiotti, executive vice president of consumer marketing and sponsorships at Mastercard. “Experiences are at the heart of what travelers value, which is why we offer programs like Priceless Cities to allow travelers to dive into each city’s unique culture by sipping wines at Le Repaire de Bacchus within Printemps Haussmann in Paris or shopping the traditional souqs in Dubai with a guide.”

Mastercard is focused on helping cardholders travel the world with peace of mind through seamless planning, conveniences and connectivity at the destination and worry-free acceptance at millions of locations around the globe. Compelling travel offerings and benefits help travelers every step of their journey. More information can be found at mastercard.com.

The Mastercard Global Destination Cities Index and GDCI: Play Index, a breakout report focused on the top leisure destinations, were released earlier this year.

About the Mastercard Global Destination Cities Index

The Mastercard Index of Global Destination Cities ranks cities in terms of the number of their total international overnight visitor arrivals and the cross-border spending by these same visitors in the destination cities in 2017, and gives international overnight visitor growth forecasts for 2018.

Public data is used in deriving the international overnight visitor arrivals and their cross-border spending in each of the 162 destination cities.

Forecasts are based upon the weighted average of the national level tourism forecasts and the actual 2018 monthly data at the destination level, which is available to the latest month before release.

This Index and the accompanying reports are not based on Mastercard volumes or transactional data.

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  • Posted on Friday November 09, 2018
  • Created by Luke Shane

Taking a Do-it-Together Approach: Side-by-Side with Startups

Leave the do-it-yourself projects at home and make way for do-it-together. While do-it-yourself may have worked previously, Mastercard believes the best way to drive scale and unlock new opportunities for businesses large and small is through collaboration – the answers to the questions surrounding today’s connected and complicated world aren’t found in one place. Besides, …
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Leave the do-it-yourself projects at home and make way for do-it-together.

While do-it-yourself may have worked previously, Mastercard believes the best way to drive scale and unlock new opportunities for businesses large and small is through collaboration – the answers to the questions surrounding today’s connected and complicated world aren’t found in one place.

Besides, who’s going to read you the directions when you’re holding the nail and hammer?

Mastercard Developers is our single gateway for our partners to easily access a diverse range of Mastercard APIs across payments, data, security and experimental categories. By using Mastercard’s renowned technology, innovation is powered elsewhere.

“Because Mastercard APIs unlock new potential, we are expanding Mastercard Developers to include a Partner API category and provide even more value-added services,” said Lisa Bongiovi, vice president for APIs.

The sources of the partner APIs? Mastercard Start Path companies. YouTube Video: Morning Brew: Scaling Innovation and Startup Culture at MasterCard start path keychain

Start Path, Mastercard’s award-winning startup engagement program, leverages company experts, technologies and channels to connect later-stage startups with banks and merchants.

“After almost five years and working with 180 startups globally, Start Path has cultivated a global network of innovators building the future of commerce,” said Amy Neale, vice president, who leads Start Path.

By linking both audiences, Mastercard is paving the rocky road of opportunity.

Here are the partner APIs, sourced by Start Path:

  • Railsbank: A global banking and compliance platform providing access to wholesale banking services in just five lines of code.
  • Shieldpay: The Shieldpay Escrow API enables secure transactions by using confirmed actions to release payment funds.
  • Vouchr: Vouchr turns existing money transfers or digital prepaid services into a gamified gift-giving experience.

Mastercard recently introduced 10 new startups into the Start Path program. Under bespoke training programs, these companies are now engaging with banks, merchants and other members of the payments ecosystem to accelerate solutions and diagnose realized pain points.

  • kompany provides real-time access to official and audit-proof commercial register information, including company filings covering more than 100 million companies in 150+ jurisdictions.
  • Aivo revolutionizes the communication between companies and their customers, using artificial intelligence.
  • Cerebri.ai uses artificial intelligence and machine learning to quantify customer commitment and dynamically predicts “Next Best Actions” to accelerate profitable growth.
  • MAX is on a mission to make moto-taxis safe, affordable and accessible across West Africa.
  • Mercaux enables retailers to provide the digital in-store experience.
  • Signzy harnesses a combination of the blockchain and artificial intelligence to offer digital onboarding solutions for financial institutions.
  • Sparkle CS removes a significant barrier to entry for retail application vendors.
  • Stratifyd captures customer interactions and turns them into actionable business intelligence.
  • Trust Stamp powers a comprehensive AI-powered facial biometric identity authentication solution.
  • Uniken gives organizations multiple protections against fraud in one seamless solution.

The do-it-together approach will advance commerce with convenience and conviction and move everyone closer to a World Beyond Cash.

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