Page 2 - Mastercard

Britain's regulator seeks to rein in Mastercard and Visa fees on retailers

Cards are the most popular form of payment in Britain, with 27.1 billion transactions in 2022 worth 954 billion pounds

Amnex and Mastercard collaborate to make payments in transit quicker and more convenient

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Mastercard March quarter results: Net revenue rises 10% to $6.35 billion

The payments processor earned $3.31 per share on an adjusted basis, beating estimates of $3.24 a share, according to LSEG data

Know more about interchange fee as NPCI considers policy change for UPI

Currently, there is no defined interchange fee for credit lines on UPI by NPCI

US banks to see modest hit from deal to lower swipe fee by Visa, Mastercard

The antitrust settlement announced on Tuesday is one of the largest in U.S. history. If approved by court, it would resolve most claims in a nationwide litigation that began nearly two decades ago

Mastercard, Visa reach $30 billion settlement over credit card fees

The antitrust settlement announced on Tuesday is one of the largest in U.S. history, and upon court approval would resolve claims in litigation that began in 2005

Tap-and-Pay: Noise launches watch in partnership with Airtel Payments Bank

Called the Airtel Payments Bank Smart Watch, the watch has NFC chip for contact less payments at Point of Sale terminals, retail outlets ,and more

IndusInd Bank launches Indus PayWear, an all-in-one tokenisable wearable

This tokenisable wearable, for both debit and credit cards, has been launched by Induslnd Bank in collaboration with Mastercardand can be purchased in the form of a ring, watch clasp, or stickers

RBI tightens norms for credit, debit cards used with business accounts

Last month, the RBI had ordered Visa to stop using an unauthorized route to make business-to-business card payments which used fintech companies as an intermediary

EU council adopts euro instant payments rules to take on Visa, Mastercard

The Council added that the new rule would factor in countries outside of the euro-zone economic bloc

'Capital One-Discover deal could hurt Visa, Mastercard dominance'

The all-stock deal would give Capital One access to Discover's network of payments processing and settlement services, potentially allowing it to cut its reliance on Visa and Mastercard

Visa, Mastercard top executives meet RBI officials after BPSP biz hit

Banking regulator issue directions to card networks, fintechs to put on hold all commercial card-based transactions made by firms

Mastercard profit beats Wall Street estimates on healthy spending trends

The report capped a robust year for the company as hopes of a "soft landing" for the economy and bets of interest rate cuts by the U.S. Federal Reserve encouraged big-ticket purchases and more travel

Mastercard's expense forecast eclipses fourth-quarter profit beat

The forecast follows a 10% jump in fourth-quarter adjusted operating expenses to $2.9 billion, largely due to personnel costs

Mastercard forecasts weaker revenue growth on economic slowdown fears

"This was a disappointing quarter, in our view, as guidance fell just short of likely elevated expectations," Edward Jones analyst Logan Purk said

Customers can now choose from multiple card networks from October 1

As per the notification, the card issuers must issue cards across more than one network and give their customers the option to choose from them

Depositors' trust is with banks, not fintech cos: Mastercard India chief

Chairman of Mastercard India Rajnish Kumar on Thursday said that the trust of the depositors is with the banking system and not with fintech companies. Speaking at the CII banking conclave here, Kumar, also the former chairman of the State Bank of India (SBI), said that what the fintech companies are challenging is the legacy system in an innovative way. "Banks are now conscious about innovative capabilities and changing fast with the times", he said. Because of the legacy system, the challenges for the banks are much more. "Leadership has a big role to play. Most of the public sector banks are actively adopting technology", he said. Implementation of the core banking system (CBS) was a humongous task, but the legacy banks did it, he said. Core banking has now changed and paved the way for app-based banking, Kumar added.

MasterCard appoints former SBI chief Rajnish Kumar as chairman

Veteran banker will have non-executive advisory role and guide Mastercard's South Asia executive leadership team

Paytm launches $12 'soundbox' that accepts card payments across networks

Indian fintech firm Paytm on Monday launched a 'soundbox' device that lets merchants accept both mobile and card payments across networks including Visa, Mastercard, American Express

Visa, Mastercard plan to add new card fees for retailers in coming months

With the increases, merchants could pay more than $500 million in additional fees each year, according to merchant-consulting company CMSPI