Page 2 - Mastercard

Australian watchdog sues Mastercard for anti-competitive practices

The ACCC investigated allegations that Mastercard engaged in anti-competitive conduct by offering certain large merchants cheaper interchange rates

Mastercard's 'smile to pay' raises concerns around face recognition systems

The company argues touch-less technology will help speed up transaction times, shorten lines in shops, heighten security and improve hygiene in businesses

FM Sitharaman meets heads of FedEx, Mastercard, others during US visit

Finance Minister Nirmala Sitharaman on Thursday met CEOs of large American firms like FedEx and Mastercard and discussed various opportunities for investment in India as the country is poised to be the fastest-growing large economy in the world. The Finance Minister is in the US to attend IMF-WB Spring Meetings 2022. FedEx President and CEO-elect Raj Subramanian, during the meeting with the Finance Minister, mentioned that he is positive about India and has significant expansion plans, including in skilling. Appreciating the government's commitment to integrated development through PM Gati Shakti Master Plan, Subramanian said the company is looking at R&D Centres in India. Last year, Prime Minister Narendra Modi launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. PM Gati Shakti targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time.

Chinese credit card processor UnionPay rebuffs Russian banks: Report

UnionPay's decision affects Sberbank, Russia's biggest commercial bank, and smaller institutions, RBC reported Wednesday

Nexo and Mastercard launch 'world first' crypto-backed payment card

It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream

Will fintech firms' governance standards, role of PEs attract scrutiny?

Fintech promoters, their private equity backers, and regulated entities that have teamed up with new-age firms will need to go back to the drawing board

Plastic nationalism: Can India really shelve Visa and Mastercard for RuPay

Ater card platforms suspended Russian clients' access to merchants overseas, the link between plastic and politics has acquired a more serious dimension.

Mastercard invests undisclosed sum in fintech firm Zeta

Fintech company Zeta has raised funds from global payments major Mastercard by selling an undisclosed stake.

Russian banks switch to Chinese UnionPay after Visa, MasterCard suspend ops

Several Russian banks on Sunday announced plans to start issuing cards using the Chinese UnionPay card operator system.

Mastercard, Visa suspend operations in Russia after Ukraine invasion

Mastercard and Visa are suspending their operations in Russia, the companies have said, in the latest blow to the country's financial system after its invasion of Ukraine

Visa, Mastercard block Russian financial institutions named for sanctions

US payment card firms Visa Inc and Mastercard Inc have blocked multiple Russian financial institutions from their network, complying with government sanctions imposed over Moscow's invasion of Ukraine

Russia seeks to pause investor stampede as sanctions hammer economy

Russia seeks to place temporary restrictions on foreigners seeking to exit Russia assets, as it tried to stem an investor retreat driven by crippling Western sanctions imposed over Ukraine invasion

Visa, Mastercard block Russian financial institutions after sanctions

On Saturday, the US, Britain, Europe and Canada announced new sanctions on Russia - including blocking certain lenders' access to the SWIFT international payment system

PhonePe is first payments firm to tokenise cards on Visa, Mastercard, Rupay

The company claims the tokenisation solution will help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI norms

Worldline partners with major card networks to launch tokenisation solution

Worldline said that it has developed a fully interoperable plug-and-play solution to enable card on file tokenisation using single integration

Visa complains to US govt about India backing for local rival RuPay

Mastercard Inc has raised similar concerns privately with the USTR

What's behind Indians' credit card spending surge in recent months?

India's credit card spending is back with a bang. What is driving the surge? Does this indicate a quick economic recovery? What are the lessons we can draw from this trend? Let us take a look

Ajay Banga to retire from Mastercard on December 31, Janow to head Board

Ajay Banga, one of the topmost Indian-American corporate leaders, and a strong advocate of India-US relationship, would retire from Mastercard at the end of the year, the global credit card firm said

US trade official called India's Mastercard ban 'draconian' - emails

The Reserve Bank of India accuses it of breaking local data-storage rules

Private lender RBL Bank resumes credit cards issuance to new customers

Plans to issue 1.2-1.4 million cards in the current financial year (FY22)