Page 3 - Mastercard

Companies using GenAI should follow self-regulation, says Mastercard CEO

Mastercard CEO Michael Miebach on Friday said Generative Artificial Intelligence (GenAI) offers 'tremendous opportunities' and companies should follow self-regulation to unlock its potential. Miebach also suggested that companies using GenAI should follow four key principles -- transparency, privacy and security, accountability and integrity -- before a full fledged regulation comes in for the sector. When there were concerns of data security and privacy, digital finance companies had adopted a self-regulation model, he said. Mastercard very simply said you are a customer, you control your data, you benefit from your data and it's the industry's job to keep it safe. Can we do the same thing with AI. As an industry can (we do) a self regulation and that (can) lead into regulatory frameworks. Absolutely we can, said the CEO of the US-based payments technology major. As a company that deals in trust, and safety and security, our focus in AI has always been to make payment transactio

UAE govt collaborates with Mastercard to accelerate adoption of AI

UAE's AI, Digital Economy and Remote Work Applications Office, and Mastercard today signed a Memorandum of Understanding (MoU) to increase AI capabilities and readiness in the region

Mastercard, Binance to end crypto card partnership from September 22

The Binance cards allow users to make payments in traditional currencies, funded by their cryptocurrency holdings on the exchange

World Cup: BCCI confirms BookMyShow as official ticketing platform

Earlier in the day, ICC had announced the schedule of the warm-up matches. Tickets for all 58 matches will be up for sale on BookMyShow with exclusive benefits to Mastercard holders

Swiggy enters credit card space, launches co-branded product with HDFC Bank

Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days

Prez Biden appoints Indian-American biz leader to serve on Export Council

US President Joe Biden has announced his intent to appoint Shamina Singh, a prominent Indian-American business leader, to the President's Export Council, which serves as the principal national advisory committee on international trade. Singh, who is the Founder and President of the Mastercard Center for Inclusive Growth, has said that she is "honoured to join the group of esteemed leaders that make up the President's Export Council. According to a statement from the White House, on July 14, President Biden announced his intent to appoint Singh to serve in the key role. I am deeply honoured to join the group of esteemed leaders that make up the President's Export Council, Singh said. The President's Export Council serves as the principal national advisory committee on international trade. The Council advises the president of government policies and programmes that affect US trade performance, promotes export expansion and provides a forum for discussing and resolving trade-related .

Travel credit card launched by IDFC FIRST Bank, Club Vistara, & Mastercard

The card will offer Club Vistara points, lounge benefits, annual rewards, golf benefits, and cover for cancelled flight and hotel bookings

Visa to Rupay: From October 1, you can port your credit, debit cards too

Currently, when you apply for a debit or credit card, you usually don't get to choose the network provider as it is decided by the card issuer.

Nine British banks sign up to Mastercard's new AI tool for tackling scams

Nine of the UK's biggest banks, including Lloyds Banking Group Plc, Natwest Group Plc and Bank of Scotland Plc, have signed up to use the Consumer Fraud Risk system, Mastercard

PM Modi to address FedEx, Mastercard, other US CEOs during US trip

Biden has been eager to strengthen ties with India as part of his bid to win what he has framed as a contest between free and autocratic societies, especially China

Facts to know about Ajay Banga, first Indian-American to head World Bank

As Ajay Banga gears to take charge of the World Bank officially, here are some facts to know about him

India lends support to Ajay Banga's nomination for World Bank President

India on Thursday extended support to the candidature of Ajay Banga as World Bank President, saying his nomination comes at a time when the multilateral lending agency is considering next-generation reforms. "Congratulations to Mr Ajay Banga on being nominated to lead @WorldBank. India supports Mr Banga's nomination and looks forward to his leadership of the @WorldBank," the finance ministry said in a series of tweets. Last month, the US President Joe Biden announced that the US is nominating Ajay Banga to lead the World Bank, saying the Indian-American business leader is uniquely equipped to lead the global institution at "this critical moment in history." If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: International Monetary Fund and the World Bank. "Mr Banga brings with him unique and wide-ranging expertise in #financial and #technological sector

Who is Ajay Banga, nominated by Joe Biden to be next World Bank president?

Announcing Banga's nomination, Biden said that Banga is "uniquely equipped to lead" the World Bank

Card spending slows, hurting revenue growth amid inflation, says Mastercard

Net revenue for the fourth quarter jumped 12% to $5.82 billion, in line with the $5.8 billion average of analyst estimates compiled by Bloomberg

BHIM dilemma: Transaction value high, but volumes way lower than rivals

From accounting for a quarter of all UPI transactions, app now has a share of just 0.76%

Visa, Mastercard may be allowed a share of India's online payments

Growing from nothing in 2016, the smartphone-based UPI - a public utility - handled nearly Rs 13 trillion ($160 billion) in December

Mastercard, Polygon join hands to launch web3-focused artist incubator

Mastercard partnered with Polygon to launch a web3-focused incubator to help artists connect with fans through a new medium, at the Consumer Electronic Show (CES) 2023

Shell profit doubles to $9.5 billion, prompting windfall tax calls

The strong earnings were likely to intensify calls in Britain and the European Union to impose further windfall taxes on energy companies as governments struggle with soaring gas and power bills.

System ready for tokenisation, says RBI deputy governor T Rabi Sankar

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

Industry prepared for potential disruptions as tokenisation nears

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through