mastercard
Consumers today are increasingly spending their money on experiences such as music events and travel, rather than on physical products. This trend, highlighted by research from the Mastercard Economics Institute, signals a significant shift in consumer behaviour. Beatrice Cornacchia, EVP of marketing and communications for Europe, explains that marketers need to rethink their go-to-market strategies in response to this ‘memory-making’ trend. “25 years ago Mastercard made a bold move. We said to people, ‘There's some things that money can't buy, for everything else there is Mastercard,” Cornacc...
Euronews (English)
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A decadeslong antitrust saga has come to a close as Mastercard and Visa have agreed on a settlement of a rumored $30 million to limit the fees merchants face. Merchants have been pursuing a settlement for close to ten years after charges made by both credit card companies via transaction fees were seen to be hitting the pockets of businesses large and small. What does this mean for merchants?The details of the settlement were laid out in a press release from Mastercard titled “Mastercard Commits to Lowering U.S. Interchange for Small Businesses and Broader Merchant Community” today. Visa would...
Due
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Activists Demand Mastercard Issue A Report On Potential Civil Rights ViolationFEP’s proposal at Mastercard (Proposal #6) requests that the Board of Directors conduct an evaluation and issue a report detailing how it oversees risks related to discrimination against individuals based on their race, color, religion (including religious views), sex, national origin, or political views, and whether such discrimination may impact individuals’ exercise of their constitutionally protected civil rights. “As shareholders of Mastercard, we believe it is of great import that the company respect civil righ...
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As Mastercard Inc (NYSE:MA) and Visa Inc (NYSE:V) leave Russia amid Western economic sanctions, Moscow has put its own card payments system into operation. The move is touted as a victory in the country’s financial war with the West. AlternativeKnown to Russians as Nspk, Fortune reports, the Kremlin had been studying a payment tool to enable credit cards for years, even without Western financial technology. In June 2014, after the invasion of Crimea, Russia created the system to process domestic credit card transactions. Q4 2021 hedge fund letters, conferences and more Although some service cu...
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New York (AFP) - Card payment giants Visa and Mastercard announced Saturday they will suspend operations in Russia, the latest major US firms to join the business freeze-out of Moscow over its invasion of Ukraine. "Noting the unprecedented nature of the current conflict and the uncertain economic environment," Mastercard said it had "decided to suspend our network services in Russia." Visa, for its part, said that "effective immediately" it would "work with its clients and partners within Russia to cease all Visa transactions over the coming days." US President Joe Biden "welcomed the decision...
AFP
New York (AFP) - US credit card giants Visa, Mastercard and American Express said they were blocking Russian banks from their payment networks following international sanctions in response to Moscow's invasion of Ukraine. "As a result of sanction orders, we have blocked multiple financial institutions from the Mastercard payment network," Mastercard Chief Executive Michael Miebach said in a statement released Monday night. "We will continue to work with regulators in the days ahead to abide fully by our compliance obligations as they evolve." Visa said on its website that it is "taking prompt ...
AFP
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