• 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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  • Posted on Monday November 05, 2018
  • Created by Bernhard Mors

Mastercard at Smart City Expo: Welcome to City Possible!

Every month, the world’s urban population grows by six million. That’s the same number of people currently living in Singapore or Toronto – moving to cities across the globe in search of new opportunities. This influx of new residents brings increased cultural and commercial growth – the very things that make cities feel vibrant and …
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Every month, the world’s urban population grows by six million. That’s the same number of people currently living in Singapore or Toronto – moving to cities across the globe in search of new opportunities.

This influx of new residents brings increased cultural and commercial growth – the very things that make cities feel vibrant and alive. It also causes issues: managing complex demands on legacy infrastructure and ensuring access to essential services are shared challenges for cities of all shapes and sizes.

Mastercard is squarely focused on advancing inclusive urbanization – using our technology, data insights and partnerships to connect communities, enable mobility, and drive small business growth.

That means putting people at the center of urban design – and focusing on initiatives that improve quality of life.

Mastercard_SCE 2018

This is the inspiration for City Possible, a new approach to addressing urban challenges by bringing cities together with a united private sector. Next week at Smart City Expo World Congress in Barcelona, Mastercard invites city, business and community leaders to experience the power of collaboration through a series of demos and conversations.

In addition to Partner Talks that will be hosted in our booth (space #B225) throughout the conference, Mastercard executives will participate in a number of congress sessions:

Tuesday, November 13:

  • 4:00 – 5:00 p.m.: Miguel Gamiño, executive vice president for global cities will participate in a key-note panel on “Bringing down barriers: what building an all-inclusive society means” (Main Auditorium).
  • 6:20 – 7:10 p.m.: Will Judge, vice president, enterprise partnerships will participate in a talk on “How interconnected devices can change life in a city” (Digital Transformation Room).

Wednesday, November 14:

  • 11:45 a.m. – 12:30 p.m.: Hany Fam executive vice president, enterprise partnerships will lead a panel on “Innovative ways of collaboration” (Governance & Finance Room).

For updates on Smart City Expo, follow us on Twitter. If you are a member of the media planning to attend, please contact the team to set up a meeting.

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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.

fintech-mastercard-1708x854

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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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 Tuesday April 09, 2019
  • Created by Sukhmani Dev

The 3 Must-Haves for an End-to-End Digital Consumer Experience

Over the years, Mastercard has pushed to perfect the payment process – and as a global technology company, it’s natural for us to think about the end-to-end customer journey, to get that perfect payment journey. I recently moderated a panel at DX3, Canada’s largest retail, marketing and technology event. The panel included Christian Magsisi, the …
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Over the years, Mastercard has pushed to perfect the payment process – and as a global technology company, it’s natural for us to think about the end-to-end customer journey, to get that perfect payment journey.

I recently moderated a panel at DX3, Canada’s largest retail, marketing and technology event. The panel included Christian Magsisi, the technology and digital lead for Maple Leafs Sports and Entertainment (MLSE), who own the Toronto Maple Leafs, Toronto Raptors and several other sports teams, and Cam Thomson, the digital and customer lead at Canadian Tire Financial Services, the financial arm of Canadian Tire Corporation, one of Canada’s largest retailers which provides the products and services that prepare Canadians for the jobs and joys of life in Canada.

In a world where the physical and digital converge, we discussed while not all digital journeys are alike, all great customer journeys have key common factors.

Consistency is crucial

DX3 Panel

At Mastercard, we believe in choice – customers should pay however, wherever and whenever they want – whether they’re in-store, online or on-the-go. But regardless of how the customer chooses to pay, the experience has to be consistent. Consistency builds trust and customers trust Mastercard to ensure their payments are predictable, frictionless and secure.

When a customer walks into a store, they know exactly how their cards or devices will work with the payment terminal. That same sense of simplicity, ease and understanding needs to apply to the online world. That’s why Mastercard is on a journey to make the checkout experience as seamless as possible – no lines, no fuss and no friction.

Last year, we announced our support for EMVCo’s Secure Remote Commerce (SRC) framework. Similar to the single, standardized acceptance terminal in stores, SRC will allow for a common checkout button online.

For our partners like MLSE, this type of consistency is a key part of the overall fan experience. During the panel, Christian explained that they were excited for easy, single checkouts because for most fans, attending a live game or event may be a once-in-a-lifetime experience. That means from the moment a fan buys their tickets online, the experience has to be seamless.

With SRC, we can deliver a more consistent experience for customers, bringing their offline confidence into the online world.

Identify the pain point, then apply the right technology

Today, there are all kinds of tech buzzwords – VR, AR, blockchain, you name it. But what will remain standing are the relevant technologies that can be used to solve a true customer pain point.

Take fraud for example; it’s much harder for a retailer to verify customers online vs. in-store. This can lead them to falsely decline a legitimate transaction, or worse, accept a fraudulent one.

Staying relentlessly focused on solving pain points means you can apply the right technologies. Solutions like Mastercard Identity Check, combined with NuData Security (a Mastercard company), bring together AI, machine learning and biometrics, and help verify customers are who they say they are, without sacrificing the convenience of a digital payment experience.

There’s no “or” – it’s experience and securityEvent Photo 2

We mentioned earlier the importance of choice, but when it comes to experience and security, there is none – both must go hand-in-hand. Customers today want brands to deliver it all.

A perfect example of this is tokenization, a process where a customer’s 16-digit card number is replaced with a unique digital identifier. Tokenization allows customers to store their cards with retailers without exposing their actual card account details, giving them with an additional layer of security. What’s more is that they don’t need to do a single thing – tokenization happens behind the scenes, which means customers can have the same frictionless experience that they’ve come to expect with Mastercard.

We recently announced that alongside our issuing partners, including Canadian Tire Financial Services, all Mastercards would be enabled with token services by 2020, giving customers the best of both worlds – security and convenience.

Customers today weave in and out of physical and digital worlds, and they expect to interact with both in the same frictionless and secure manner, while feeling in control. As the two worlds have become one, businesses must place customers at the centre of each commerce journey by focusing on expectations and solving for pain points when developing an end-to-end digital consumer experience.

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  • Posted on Monday March 25, 2019
  • Created by Craig Vosburg

A Card for Our Digital Era

Simplicity, security and ubiquity sit at the very core of some of the most progressive innovations of our generation. These innovations have challenged the notion of, “that’s how it was always done” to lead to transformational “can’t live without” products and services that have made our day to day experiences better, faster and more convenient. …
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Simplicity, security and ubiquity sit at the very core of some of the most progressive innovations of our generation. These innovations have challenged the notion of, “that’s how it was always done” to lead to transformational “can’t live without” products and services that have made our day to day experiences better, faster and more convenient. Just 10 years ago, you couldn’t have imagined a world where your car ride or your morning coffee could be customized and delivered to you with the tap of your finger. At Mastercard, we’ve worked with a number of payment and technology partners and have been behind a number of these types of innovations such as: development of token services; immersive shopping; Mastercard Track – a global trade platform and financial tool for gig workersCraig-Quote1v2

We believe consumers want more of this type of thinking – intuitive, thoughtful and creative solutions to enhance their transactions. People are looking to newer technologies to have an impact on their lives. In the past year alone, new-technology mentions on social media increased 30 percent.1

And today, we’re proud to introduce yet another first.  Together with Apple, one of the great consumer brands in the world and Goldman Sachs, a prestigious institution in the financial services industry, we’re launching the first ever Mastercard Digital-First card. The technology behind it and the product itself is the first of its kind. Unlike the way in which cards have been traditionally issued, this Digital-First card will literally arrive in your digital wallet first before it arrives in your mailbox (optional). Using revolutionary security features like TouchID or FaceID, it takes seconds to authenticate and is ready for the cardholder to tap, swipe and check out – instantly. According to a recent study, 68 percent of those who have loaded a debit or credit card to a mobile wallet indicated they expect to make 50 percent or more of their in-store purchases using a digital wallet within two years.2

A card like this is not only convenient but it’s also the pathway to opening up new ways to pay for things that you didn’t think possible. Imagine tapping your way through a toll booth or a take-out window or imagine tapping your way onto the metro instead of using proprietary cards or tickets. In fact, we’re already integrating this technology to a number of transit systems around the country including Los Angeles, Boston, and Denver. And new transit solutions are expected to be live in more than 20 markets in the United States including New York City within the next few years.

At the core of both these announcements is our token services and M Chip technologies that help store the card on a digital device without exposing important details and also enable fast contactless payments – making the commuter experiences fast, simple and secure. Mastercard brought token services to Apple Pay in 2014 and late last year announced its strategy to enable token services on all cards by 2020.

These are just a few of the examples of how we’re connecting the dots, thinking creatively, enhancing transactions and creating frictionless user experiences that never compromise on security, simplicity and ubiquity.

1 Mastercard 6th Digital Payments Study, February 2019

2 TSYS 2018 Consumer Payments Study

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  • Posted on Wednesday March 20, 2019
  • Created by Paul Petta

Safeguarding Consumers from Counterfeit Goods

As e-commerce options have grown exponentially, consumers are increasingly buying everything from food to medicine, apparel to designer goods through online retailers and marketplaces. While the vast majority of purchases online result in a satisfied customer, occasionally cardholders inadvertently purchase an inferior “fake” product. Most consumers encounter counterfeits in the world of designer goods, where …
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As e-commerce options have grown exponentially, consumers are increasingly buying everything from food to medicine, apparel to designer goods through online retailers and marketplaces. While the vast majority of purchases online result in a satisfied customer, occasionally cardholders inadvertently purchase an inferior “fake” product.

Most consumers encounter counterfeits in the world of designer goods, where handbags, shoes and sunglasses are offered at steep discounts – but turn out to be fakes. These purchases can result in consumers feeling like they were cheated. Even more concerning, counterfeit pharmaceuticals, contact lenses, car parts, electronics, batteries and others are more than just substandard quality – they raise very real safety concerns.

At Mastercard, we want every commerce engagement to be simple, safe and secure, and we take strong actions to protect consumers from unwanted counterfeit purchases.

In fact, we have an ongoing partnership with the International Anti-Counterfeiting Coalition (IACC), whose 250-plus participating Intellectual Property (IP) rights holders from 40+ countries notify Mastercard of unauthorized sales online. Once we learn of this activity, we take immediate action. Just last month, we worked with the IACC and our partners to combat the sale of counterfeit goods through an online marketplace, and were pleased to help resolve the issue quickly – helping keep fake goods out of the hands of unsuspecting shoppers.

Working directly with organizations like the IACC is just one of the ways that we protect cardholders from getting ripped off by counterfeit goods. We offer dispute resolution rights for cardholders who purchase counterfeit goods—and encourage consumers who have evidence that they purchased a fake to reach out to their issuing bank—and protect cardholders from fraud through policies such as Zero Liability.

 

 

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  • Posted on Tuesday February 05, 2019
  • Created by Linda Kirkpatrick

Women Are More Than A Diversity Agenda

Today, I attended the Women In Payments conference in DC and met some incredible cohorts from the financial technology and services companies. We were there to celebrate the advances that women made at the workplace in the last few years but also to start the conversation around what needed to happen next and how we …
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Today, I attended the Women In Payments conference in DC and met some incredible cohorts from the financial technology and services companies. We were there to celebrate the advances that women made at the workplace in the last few years but also to start the conversation around what needed to happen next and how we could make change happen more quickly.

Women in PaymentsI’m encouraged to see the trends going in the right direction – it’s not enough, but it’s progress. 80 percent of the purchase decisions are being made by women, women are starting businesses more than ever before, more women are entering into leadership roles – The share of women sitting on the boards of Fortune 500 companies has more than doubled, from 9.6% in 1995 to 22.2% in 2017 and the share of female CEOs of Fortune 500 companies reached was 4.8% in 2018. As recently as 1995, there were no female CEOs on the Fortune 500 list.1

At Mastercard we realize that the world needs to change and it is only fitting that women are at the table when technology is built, when algorithms are developed and when products are brought to market. Which is why 50 percent of the senior leadership at Mastercard in the US is female and 40% of the Mastercard US workforce is women. We have grown our business considerably by putting women at the center of it all and we know that creates amazing culture, customer service and product development:

  • Our Women’s Leadership Network, one of our nine Business Resource Groups, has 31 chapters around the world, supporting the growth and development of 8000 members.
  • Our Board Chairman and other executives are members of the 30% Club, which champions greater representation of women on the boards of FTSE100 companies
  • Mastercard has partnered with Accion Venture Lab to provide more loans to women entrepreneurs along with financial coaching
  • Together with Grameen America, Mastercard is bringing digital financial services to nearly 100,000 low-income women entrepreneurs
  • Mastercard reached 185,000 young women through its Girls4Tech program designed to get young girls interested in STEM
  • Care.com is using Mastercard technology to make it easier for 26 million caregivers to get paid quickly.

I’m encouraged by what I see and I’m proud to be working at a company that cares so much about the advancement of all people, including women.

1 The Data on Women Leaders, Pew research Center

The post Women Are More Than A Diversity Agenda appeared first on Global Hub.


  • Posted on Thursday January 31, 2019
  • Created by Martina Hund-Mejean

Earnings Review: Strong Performance in Q4, Continued Momentum for 2019

This morning, we hosted a conference call where we shared Mastercard’s financial results for the fourth quarter and our 2018 fiscal year. If you listened to that call, you heard how we had a strong end to the year, delivering broad-based growth. The numbers speak for themselves – double-digit gains in both volume and transactions, …
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This morning, we hosted a conference call where we shared Mastercard’s financial results for the fourth quarter and our 2018 fiscal year. If you listened to that call, you heard how we had a strong end to the year, delivering broad-based growth.

The numbers speak for themselves – double-digit gains in both volume and transactions, with earnings per share increasing 40 percent year-over-year, on a currency-neutral basis and excluding special items.

During the call, Ajay and I discussed how we continue to deliver differentiated value for our customers through core payment products and services that deliver value beyond the transaction. Some highlights and themes from the quarter include:

Customer Value – We deepened and renewed partnerships by providing customers with solutions that combine the best of what we have to offer. One example is Mastercard becoming the exclusive network for the consumer and business card portfolio at Westpac Bank, one of Australia’s largest banks, while renewing the relationship in New Zealand. We also renewed key relationships with Credit Agricole, the largest bank in France, and the Netherlands’ Rabobank.

Merchant Partnerships – Co-brands continue to play a big role in our efforts in the Americas, as seen through recent deals with Square for its business debit card program and the extension of the JetBlue program across 19 Caribbean markets, making us their sole network partner. Additionally, JPMorgan Chase will use our Gateway Services to enhance its global connectivity and support of alternative payments as they continue to expand global digital payments solutions for their merchants.

Target Contactless

Doing Well by Doing Good – Our efforts to help governments create smarter cities and smarter societies can be seen in our recent agreement with Mexico’s Bansefi, where we have been chosen to help distribute a wide range of social benefits payments through 20 million new debit cards.

Enhancing the Consumer Experience – In the U.S., we’re seeing growing momentum in contactless, with issuers representing two-thirds of our total consumer volume committing to issue these cards within the next two years. And, we continue to scale our merchant token service to support partners like AT&T and Liberty Mutual in their recurring bill pay models.

As we look to 2019, we anticipate continued strong growth in our business, while expecting a slight moderation in the overall economic environment. During our conference call, we provided our thoughts for 2019 and new multi-year performance objectives for the next three years (2019 to 2021).

Based on our excellent performance over the last few years, we believe that we can:

  • Deliver a low-teens compound annual net revenue growth rate over the next 3 years, based on PCE growth of approximately 4 to 5 percent globally
  • Maintain the minimum 50 percent annual operating margin
  • Recognize a high-teens earnings per share CAGR over the 2019-2021 period

These numbers are on a currency-neutral basis, excluding future acquisitions and special items.

We thank you for your support of our vision and our long-term strategy. Look for further updates like these in the coming months.

The post Earnings Review: Strong Performance in Q4, Continued Momentum for 2019 appeared first on Global Hub.


  • Posted on Wednesday January 30, 2019
  • Created by Amy Neale

The 2019 FinTech Effect for Banking and Commerce

And…exhale. Since 2014, Mastercard has scoured every corner of the globe to find the world’s best startups. Finding them, however, is only one piece of the puzzle, and our startup engagement program, Start Path, is much more than a reconnaissance mission. Nearly 200 companies have participated in the program, and we’ve connected with nearly 10,000 of …
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And…exhale.

Since 2014, Mastercard has scoured every corner of the globe to find the world’s best startups. Finding them, however, is only one piece of the puzzle, and our startupstart path keychain engagement program, Start Path, is much more than a reconnaissance mission.

Nearly 200 companies have participated in the program, and we’ve connected with nearly 10,000 of the world’s smartest startup founders to build the future of commerce together. Our experience, combined with the lens that CB Insights provides as a data partner, gives us a unique insight into what’s happening in the FinTech and startup landscape.

Here are three FinTech trends to keep an eye on during 2019:

  1. Banks are having their AI moment.

AI startups were a hotspot for FinTech funding during 2018, with investments nearly doubling previous levels. While there is much hype about AI, the utility is beginning to match the excitement. As banks successfully implement AI, for example, we are beginning to see the industry shift from reactive to proactive (or even predictive) risk identification. Take credit risk – AI is taking a flat, rules-based model and, using big data, turning it into more customizable insights.

  1. Open Banking opens the market up to global FinTech.

Changes in Europe during 2018, such as requirements for banks to pen APIs to customer data, will begin to materialize fully during 2019, and consumers are set to be the biggest beneficiaries. Such changes will create choice, competition and establish consistency. New entrants are entering the market to take advantage of the change in regulation and deliver new solutions for consumers.

  1. SMBs are the next battleground for FinTech.

Small and medium-sized businesses remain underserved by FinTechs. Typically, FinTechs have focused on the consumer or only addressed loans and financing for SMBs. The ecosystem is quickly pivoting due to the fact that SMBs crave the same on-demand, frictionless and low-cost services that digital-first banks can provide at scale.

As an exciting 2019 gets underway, so too does the latest wave of Mastercard Start Path companies entering the program. We’re excited to be working with these seven startups, all of which are at the forefront of changing banking, finance and commerce.

  • Cnote creates competitive financial products with positive social impact.
  • Hummingbird is an AI platform for managing anti-money laundering operations.
  • Minka is an Open Banking API platform built on the concept of money as information about debts (IOUs) and cryptography.
  • Nexsis is a technology company that has developed a smart panel using solar power capable of producing clean drinking water from any source, usable electricity and hot sanitation water.
  • Tourego has a first-in-the-world solution to deliver a fully mobile tourist refund experience.
  • Tranzer makes it possible to travel by train, tram, bus or taxi via an app on your smartphone and across different carriers.
  • ZenCity is an AI-based citizen feedback analytics platform for cities, which makes citizen feedback a useful, decision-powering data source for local governments.

FinTechs and entrepreneurs seeking to join Start Path and our international network of innovators are encouraged to apply before March 1.

The post The 2019 FinTech Effect for Banking and Commerce appeared first on Global Hub.


  • Posted on Wednesday January 16, 2019
  • Created by Paul Petta

Free Trials Without The Hassle

No one wants to be unsatisfied with a physical product after paying for it. For some consumers, a free-trial is a great way to test out a new product and get comfortable with it before making a purchasing decision. And with so many merchants offering free product trials, they’re becoming the new norm. However, sometimes a …
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No one wants to be unsatisfied with a physical product after paying for it. For some consumers, a free-trial is a great way to test out a new product and get comfortable with it before making a purchasing decision. And with so many merchants offering free product trials, they’re becoming the new norm.

However, sometimes a free trial of a skincare or healthcare product can unwittingly turn into a recurring product subscription that is difficult to cancel. These situations can be frustrating and costly for both consumers and their banks. M

At Mastercard, we want every commerce engagement to be simple, safe and secure and we are introducing rules for merchants that offer free-trials to make this a hassle-free experience for their consumers. The rule change will require merchants to gain cardholder approval at the conclusion of the trial before they start billing. To help cardholders with that decision, merchants will be required to send the cardholder – either by email or text – the transaction amount, payment date, merchant name along with explicit instructions on how to cancel a trial.

For each payment thereafter, the merchant will have to send a receipt to the cardholder for each transaction by email or text message with clear instructions on how to cancel the service if the consumer so desires.  In addition, all charges that appear on the cardholder’s statement must now include the merchant website URL or the phone number of the store where the cardholder made the purchase.

Free trial offers can be a legitimate and useful way to increase sales and improve consumer satisfaction. The new rules will help in increase transparency and ensure an outstanding experience for cardholders. In addition to these changes, Mastercard cardholders are also covered by our Zero Liability policy which protects them against unauthorized purchases or charges. If a cardholder suspects that a transaction is fraudulent or unusual, we encourage them to contact the bank that issues their card for assistance and more information.

*This blog was updated on January 17, 2019 to clarify that the rule change is applicable to physical products such as skincare, healthcare items etc.

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  • Posted on Thursday January 10, 2019
  • Created by Chris Reid

Mastercard Identity Check: Bringing Consumers a Better Digital Experience

The ultimate moment of shopping truth happens when we tap, dip, swipe or click and wait for approval. Nobody wants a decline—especially not a false one and especially not a false decline due to security measures put in place to protect you. This is scenario is more troubling to us than fraud losses. Because, when …
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The post Mastercard Identity Check: Bringing Consumers a Better Digital Experience appeared first on Global Hub.

The ultimate moment of shopping truth happens when we tap, dip, swipe or click and wait for approval. Nobody wants a decline—especially not a false one and especially not a false decline due to security measures put in place to protect you. This is scenario is more troubling to us than fraud losses. Because, when that happens, people don’t just abandon their cart—they often stop using their card altogether. In 2017 alone, false declines for payment card transactions account for US$303 billion in lost revenue in the U.S.Online Shopping

As in-store purchasing has become more secure, fraud has been creeping up online. Why? Because identity verification is a top challenge for both issuers and merchants. In fact, 50 percent of global login traffic is at high risk for potential account takeover or credential misuse.2 And consumers are frustrated when they don’t have the same seamless, secure experience at every interaction. The industry is now at a point where we have information and technology available to tackle that frustration head on – EMV 3D-Secure 2.0. It’s a complicated name to describe something simple – a new industry standard used to check a consumer’s identity on digital payment transactions.

With the rollout of EMV 3D-Secure, Mastercard has created a program called Mastercard Identity Check. The program provides merchants and their banks an easy way to upgrade and enhance current security solutions to determine potential risks and ensure genuine transactions are approved in a seamless manner. Using Identity Check’s AI and machine learning, EMV 3D-Secure can now take into account over 150 different variables of a transaction to help the issuer make a more accurate, insight-based decision whether to approve a transaction or decline it.

These variables include such factors as screen brightness, device owner gestures and, shopping purchase history. They are used alongside insights from the merchant and issuer to authenticate a payment. In cases where additional authentication is needed to protect the buyer, it can be provided through the use of biometrics or a one-time password. Essentially, we’re providing another, more seamless way to prove you are you. The best part? It all happens in a blink—in that short moment of truth before a consumer sees the word “Approved”.

Delivering practical security solutions in an effortless and imperceptible fashion is critical in creating trust between people and retailers. As is fitting for today’s digital economy, the new standard enables a consistent user experience across connected devices, in-app or on a browser. When merchants and issuers have greater confidence in the consumer’s identity, approvals increase on average 11 percent which means fewer false declines, happy merchants and recurring shoppers–not to mention a simpler shopping experience for us all.

To learn more on how the new standard will help merchants, click here.

1 – 2017 Federal Reserve Study

2 – NuData Research

The post Mastercard Identity Check: Bringing Consumers a Better Digital Experience appeared first on Global Hub.


  • Posted on Tuesday December 18, 2018
  • Created by Michael Froman

Forging New Paths Toward more Inclusive Growth and Opportunity for All

This week in New York, the UN Member States voted in favor of the Global Compact on Refugees. The integration of the world’s 25.4 million refugees into new communities is a topic that touches nations all over the world, but one that is also fraught with controversy and tension. Over the last several years, the …
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The post Forging New Paths Toward more Inclusive Growth and Opportunity for All appeared first on Global Hub.

This week in New York, the UN Member States voted in favor of the Global Compact on Refugees. The integration of the world’s 25.4 million refugees into new communities is a topic that touches nations all over the world, but one that is also fraught with controversy and tension.

Over the last several years, the number of refugees – individuals forced to flee their homes or their countries to escape conflict or disaster – has been increasing. Indeed, the plight of those fleeing conflict and crisis has become one of the most urgent and complex human crises of our time.

But with that crisis comes the equally urgent issue of managing the needs and wants of citizens in the countries that receive these refugees. The headlines and heated debates in Congresses and Parliaments across the world highlight how an influx of displaced populations can create strain on political and social systems.

Questions of sanctity, sovereignty, safety and how to sustain prosperity for local populations bubble up – some more contentious than others – but all stemming from a place of genuine concern.

Ironically, the solution for refugees, who are adapting to a new home, may well be similar for those who grew up in the destination country and feel excluded from a system that doesn’t seem to understand their needs.  In both instances, the answer lies in creating inclusive growth and opportunity for all.

At this critical time, Mastercard is entering into a new global partnership with the International Rescue Committee (IRC) to increase access to essential technology and products to advance financial education and the provision of financial services for displaced populations around the world.

The IRC has given out over 40 small grants to support entrepreneurs and micro enterprises in Lebanon, following a rigorous process of business plan development and business counseling. Half of the grants have been given to women and target Lebanese as well as Syrian refugees.,,,Suzane is from Bet Mery in Mount Lebanon. “For many years I worked as an office administrator but then I became a housewife. I needed to work again and wanted to start my own business. I tried selling home-made soap and ceramics but the bigger market is for food. Thanks to the IRC micro-enterprise grant I was able to open my shop. We’ve been open a month and it’s going very well and is popular in the village. The produce is cheap, fresh and high quality because it’s home-made.”

The IRC offers long-term assistance to refugees displaced by war, persecution or natural disaster. Our partnership with IRC is based on the shared belief that connecting people with opportunity and putting them on a path to financial inclusion is an important step in helping them survive, recover and regain control of their future. Since 2003, the IRC has supported the startup of over 900 owned businesses and in 2016, of all refugees settled by the IRC and supported by employment programs, 84 percent were economically self-sufficient within six months.

By easing the path for refugees to establish themselves, start businesses and engage in commerce, we create opportunities for them to become active, contributing members of the economies of their new communities and host countries. By allowing them to take part in the financial mainstream, we also eliminate reliance on shadow economies or ‘off the books’ financial activities and arrangements – contributing to a safer experience for the migrants and the broader established economy. Indeed, a recent study by the IRC in Lebanon shows that for every dollar spent by refugees, $2.13 goes back into the local economy.

By focusing on inclusion, we can help displaced people and the communities that welcome them achieve financial resilience and opportunity. This isn’t something any one individual or organization can solve for alone. We will be bringing our best assets, people and ideas to support the IRC in the delivery of sustained and meaningful impact. Strong partnership across development organizations, NGOs, governments and the private sector will allow us to address these extremely sensitive challenges over the long term.

Mastercard believes in building a safer, healthier and more inclusive world where everyone can contribute, benefit and thrive. With that in mind, we’re proud to be taking this important step in growing our partnership with IRC into 2019.

The post Forging New Paths Toward more Inclusive Growth and Opportunity for All appeared first on Global Hub.


  • Posted on Thursday December 13, 2018
  • Created by Marcela Carrasco

How Partnership Powers a City on the Move

In a forward-looking city, development efforts and progress support a common objective: to improve people’s quality of life. Bogotá is the very reflection of a cosmopolitan city. Its cultural diversity, rapid population growth and the development of its infrastructure have the region focusing on its track record and performance. Colombia’s capital contributes 25 percent of …
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The post How Partnership Powers a City on the Move appeared first on Global Hub.

In a forward-looking city, development efforts and progress support a common objective: to improve people’s quality of life. Bogotá is the very reflection of a cosmopolitan city. Its cultural diversity, rapid population growth and the development of its infrastructure have the region focusing on its track record and performance.

Colombia’s capital contributes 25 percent of the country’s GDP and its production of goods and services exceeds that of other notable Latin American economies like Guatemala, Costa Rica and Panamá. Similarly, its population growth has reached historic levels. Bogotá is currently home to over 8 million residents, which is equivalent to the entire population of Switzerland.

However, as with most cities around the world, its growth has been accompanied by challenges. Public transportation is a clear example. According to the INRIX Global Traffic Scorecard, Bogotá is rated sixth in the world among cities where people spend the most time on public transportation. It ranks second in South America, and first in that category in Colombia. On average, the people of Bogotá spend 75 hours in traffic each year.

Purchases of personal vehicles have also shot up in recent years. According to information from the National Industrial Association (ANDI), by December 2018, the city will have a record 250,000 registered cars, representing an average monthly increase of 9 percent.

For these reasons, public transportation plays a significant role in citizens’ ability to get around the city. At Mastercard, we’ve created solutions to improve the commuter experience in different cities around the country. One example is in Bogotá, where we’ve partnered with Transmilenio, the main mass transportation service, and our partner banks to develop a hybrid debit card that allows users to access the system, while also offering traditional payment capabilities at any business.

For a transportation system that moves 2.5 million passengers daily, this technology has been vital in decongesting the system, streamlining the flow of passengers and reducing lines at the replenishment points for traditional cards. Economically, according to Transmilenio, it has meant direct savings of $650,000.

This groundbreaking technology, which has provided tangible benefits to transportation challenges in Bogotá, has been replicated in other cities around the country like Medellín, Barranquilla, Cali and Pereira.

In this case, we’ve put technology to work for the people, to address one of the major inconveniences associated with urban living.

Scalable, system-wide solutions like these are just an example of what can be accomplished when civil society, the private sector and public decision makers work together to advance a common goal. It’s a powerful demonstration of what we can make possible through the power of partnership.

 

The post How Partnership Powers a City on the Move appeared first on Global Hub.


  • Posted on Wednesday November 28, 2018
  • Created by Jorn Lambert

2018 Is Set To Be A Very Digital Holiday…But Do You Know Which Card You’re Paying With?

The stage is set for this holiday season to be one for the records, with ecommerce sales alone forecasted to be up 104 percent compared to five years ago, according to Mastercard Spending Pulse.  With this, it’s no surprise that this holiday will see the trend toward digital payments continue as consumers look for the …
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The stage is set for this holiday season to be one for the records, with ecommerce sales alone forecasted to be up 104 percent compared to five years ago, according to Mastercard Spending Pulse.  With this, it’s no surprise that this holiday will see the trend toward digital payments continue as consumers look for the most convenient ways to check off their holiday to-do lists.

And in the search for convenience, many of us store our payment cards with the online merchants and digital wallets we use most often. Yet, 60 percent of Americans are unable to name all the places where their card information currently lives online.Shared-Mode-selector-iPhone-8-FIX

As more and more people continue to store or link cards to everything from online retailers to smartwatches and even voice assistants in the name of a more convenient checkout experience, Mastercard is working hard to provide transparency and control.

Through its digital branding requirements, Mastercard addresses how and when digital entities need to present Mastercard branding – whether that be in-app, browser, contactless, voice-enabled devices, or QR experiences – with the intent of providing consumers with transparency and certainty of the Mastercard credential being used.

It’s a simple reminder at checkout of the card that is stored in that device or with that merchant so consumers can click with confidence.

So when you are hopping into a Lyft ride this season to celebrate with friends, rest assured knowing that you’ll be presented with the preferred Mastercard card you stored on file, ensuring you can use the card that you want to pay with.

This Mastercard branding provides reassurance, confidence, and a little more peace of mind during a busy season so that you can focus on what matters most.

The post 2018 Is Set To Be A Very Digital Holiday…But Do You Know Which Card You’re Paying With? appeared first on Global Hub.


  • Posted on Monday December 16, 2019
  • Created by Rae Hodge

How we evaluate and review VPNs - CNET

Looking to invest in a VPN? Here's our guide for reviewing these services.


  • Posted on Monday December 16, 2019
  • Created by Erin Carson

Galaxy Fold: Samsung dials back exec hint that it's sold a million foldable phones - CNET

Young Sohn may have quoted the initial sales target rather than actual sales.


  • Posted on Monday December 16, 2019
  • Created by Oscar Gonzalez

Watchmen finale gave us answers but we still have questions - CNET

It's all over... or is it?


  • Posted on Monday December 16, 2019
  • Created by Daniel Van Boom

WWE TLC 2019: Results, Daniel Bryan return, match ratings and full recap - CNET

WWE ends 2019 with one strange pay-per-view.


  • Posted on Monday December 16, 2019
  • Created by Daniel Van Boom

WWE TLC 2019: How to watch, start times, full match card and WWE Network - CNET

The women will steal the show.


  • Posted on Monday December 16, 2019
  • Created by Steven Musil

New Orleans city computers offline after cyberattack - CNET

It wasn't immediately clear whether ransomware was to blame.


  • Posted on Sunday December 15, 2019
  • Created by Rick Broida

Best Amazon holiday 2019 deals: What's on sale right now, including Echo speakers, Fire TV, Ring alarms and more - CNET

The holiday sales keep coming. Amazon has slashed prices on many devices for the holidays, including an $80 Echo Show 8, an Eero three-pack for $190 and more.


  • Posted on Sunday December 15, 2019
  • Created by Eric Mack

Climate change has made the world's deadliest lake way more dangerous - CNET

Inside the epic, decades-long battle to tame a lake so swollen it threatens to wipe out an entire city center.


  • Posted on Sunday December 15, 2019
  • Created by Lori Grunin

Sure, a Mac Pro setup can cost $53K, but here's why that's not as crazy as it sounds - CNET

Here's the truth. For a workstation, that's nothing.


  • Posted on Sunday December 15, 2019
  • Created by Oscar Gonzalez

Watchmen 101: Your guide to the comics behind HBO's new series - CNET

Need to know more about Doctor Manhattan? Learn all about how the comics, movie and show tie together.


  • Posted on Sunday December 15, 2019
  • Created by Mark Serrels

When is episode 7 of The Mandalorian arriving on Disney Plus? - CNET

The Star Wars schedule is kinda weird. Check when the next episode of The Mandalorian will be available.


  • Posted on Sunday December 15, 2019
  • Created by Justin Jaffe

The best holiday 2019 iPad deals: iPad Air for $400 and more - CNET

Plus: Grab an $80 discount on the new 10.2-inch model or save $150 on the 11-inch iPad Pro.


  • Posted on Sunday December 15, 2019
  • Created by David Carnoy

Bose's 2019 Holiday Sale: Discounts on speakers and headphones - CNET

The SoundLink Micro Bluetooth speaker, Noise Cancelling Headphones 700, QuietComfort 35 II and SoundSport Free headphones are among the products being discounted.


  • Posted on Sunday December 15, 2019
  • Created by Bonnie Burton

Baby Yoda threatens Baby Groot on SNL - CNET

Baby Yoda stops by Saturday Night Live to reveals his new fashion line, upcoming comedy special and lack of patience with one of Marvel's heroes.


  • Posted on Sunday December 15, 2019
  • Created by Justin Jaffe

The best Xbox holiday deals right now: Get an Xbox One S plus three games for $149 at Walmart - CNET

Looking for Jedi: Fallen Order or Call of Duty: Modern Warfare? There are still solid bundles to be had on the Xbox One S, Xbox One X and the All-Digital edition.


  • Posted on Sunday December 15, 2019
  • Created by Gael Fashingbauer Cooper

Baby Yoda playing hide-and-seek in The Mandalorian is cutest meme ever - CNET

Peek-a-boo, he sees you.


  • Posted on Sunday December 15, 2019
  • Created by Dave Johnson

Best Nintendo Switch holiday deals for 2019: Switch V2 plus $30 in credits or Switch Lite for $194 - CNET

There are still lots of Switch deals out there, and we've rounded up the lowest prices for you.


  • Posted on Sunday December 15, 2019
  • Created by Justin Jaffe

On Sale Today at Best Buy: iPad, Nintendo Switch, Fitbit Versa 2 and more - CNET

And it comes with a free Google Nest Mini.


  • Posted on Sunday December 15, 2019
  • Created by Dave Johnson

The best holiday deals you can get right now: Nintendo Switch, iPad, Bose headphones, a 4K UHD TV and more - CNET

There are some awesome deals right now on electronics. Save $70 on Bose noise-canceling headphones, get $80 off the latest iPad, save $30 when you buy a Nintendo Switch and more!


  • Posted on Sunday December 15, 2019
  • Created by Shelby Brown

How Apple Arcade changed mobile gaming in 2019 - CNET

Apple Arcade made it evident that the tech giant pays attention to the details.


  • Posted on Sunday December 15, 2019
  • Created by Richard Trenholm

2020 movie preview: Black Widow and Wonder Woman lead the sequel parade - CNET

A rundown of which original and franchise movies to look for in the year ahead.


  • Posted on Sunday December 15, 2019
  • Created by Richard Trenholm

2020 movies to geek out over - CNET

From Bill and Ted to Wonder Woman to Top Gun, next year is all about sequels.


  • Posted on Sunday December 15, 2019
  • Created by Geoffrey Morrison

Dolby Atmos: Why it's cool, how it works and how to get it - CNET

From movie theaters to the music charts, here's how Dolby Atmos surrounds you with sound from all directions -- even above.


  • Posted on Sunday December 15, 2019
  • Created by Geoffrey Morrison

Now boarding for 1962: A night at the retro TWA Hotel - CNET

Step back in time to an early Jet Age wonder of design and style.


  • Posted on Sunday December 15, 2019
  • Created by Geoffrey Morrison

Fly me to the moon: A night at the retro-masterpiece TWA Hotel - CNET

I stayed in an iconic building from the start of the Jet Age, transformed into a modern hotel with style. And I loved it.