Profile: MasterCard Inc (MA)
10 Mar 2014
MasterCard Incorporated, incorporated on May 9, 2001, is a technology company in the global payments industry. The Company connects consumers, financial institutions, merchants, governments and businesses worldwide, enabling them to use electronic forms of payment instead of cash and checks. It facilitates the processing of payment transactions, including authorization, clearing and settlement, and deliver related products and services. The Company’s family of brands includes MasterCard, Maestro and Cirrus. It also provides offerings, such as loyalty and reward programs, information services and consulting. It provides transaction processing and a range of payment-related products and services to enable the design, packaging and implementation of its products and programs.
The Company operates the MasterCard Network, its global payments network that links issuers and acquirers around the globe to facilitate the processing of transactions, permitting MasterCard cardholders to use their cards and other payment devices at millions of merchants worldwide. It processes through its network for its issuer customers in more than 150 currencies in more than 210 countries and territories. Through the MasterCard Network, the Company enables the routing of a transaction to the issuer for its approval, facilitate the exchange of financial transaction information between issuers and acquirers after a conducted transaction, and help to settle the transaction by facilitating the exchange of funds between parties through settlement banks chosen by the Company and the customer. The MasterCard Network processes transactions throughout the world where the merchant country and issuer country are different (cross-border transactions), providing cardholders with the ability to use, and merchants to accept, MasterCard cards and other payment devices across multiple country borders.
The Company also provides domestic (or intra-country) transaction processing services to customers in every region of the world, which allow issuer customers to facilitate payment transactions between cardholders and merchants within a particular country. It processes the majority of MasterCard-branded domestic transactions in the United States, United Kingdom, Canada, Brazil and a select number of other countries. Its offerings include MasterCard Integrated Processing Solutions and Payment gateways, including DataCash and MasterCard Internet Gateway Service (MiGs). MasterCard Integrated Processing Solutions is a debit and prepaid issuer processing platform designed to provide medium to large global issuing customers with a complete processing solution to help create differentiated products and services and allow quick deployment of payments portfolios across banking channels, including authorizing transactions and assisting issuers in managing both their risk and the cards issued to their customers. DataCash and MasterCard Internet Gateway Service offers a single interface to provide e-commerce merchants with the ability to process secure payments and offer value-added solutions, including outsourced electronic payments, fraud prevention and alternative payment options, and the MasterCard Mobile Payments Gateway is a platform that facilitates transaction routing and prepaid processing for mobile-initiated transactions for its customers.
The Company provides a variety of payment solutions that support payment products that customers can offer to their cardholders. These services facilitate transactions on the MasterCard Network among cardholders, merchants, financial institutions and governments in markets globally. It offers a number of programs that enable issuers to provide consumers with cards that enable them to defer payment, either by permitting them to carry a balance in a revolving credit account or requiring payment of the full balance within a specified period. These programs are designed to meet the needs of its customers around the world and address specific consumer segments, including general purpose products for consumers with basic credit card needs, featuring revolving credit, security and everyday convenience, products designed for more affluent consumers and featuring higher credit lines and spending limits and a varying level of enhanced services, including insurance coverage and access benefits, and product offerings for the most affluent consumers worldwide that feature its purchasing capacity, as well as a comprehensive range of access benefits and services, and travel, concierge and cardholder protection insurance in some regions.
The Company supports a range of payment solutions that allow its customers to provide consumers with convenient access to funds in deposit and other accounts. The Company’s debit and deposit access programs can be used to make purchases and to obtain cash in bank branches, at automated teller machine (ATMs) and, in some cases at the point of sale. MasterCard-branded debit programs provide functionality for both signature-based and personal identification number (PIN)-based authenticated transactions, and are designed to meet the needs of consumers with standard, premium and affluent offerings. Maestro is its global PIN-based debit program, and is the only PIN-based solution that operates globally. Cirrus is its primary global cash access solution, providing domestic and cross-border access for transactions at ATMs that participate in the MasterCard Network, including cash access (withdrawal, advance and drawdown), balance inquiries, account transfers and deposits.
Prepaid programs involve a balance that is funded with monetary value prior to use. Cardholders access funds through a traditional magnetic stripe or chip-enabled payment card or other device (such as mobile) that may leverage its contactless functionality. MasterCard customers may implement prepaid payment programs using any of its brands, and it supports these programs with processing services. The Company provides and customizes programs to meet commercial and consumer needs in all prepaid segments, with a focus on government, commercial and consumer reloadable. The Company also provides prepaid card program management services through Access Prepaid Worldwide (Access). Through Access, it manages and delivers consumer and commercial prepaid travel cards to business partners around the world, including financial institutions, retailers, telecommunications companies, travel agents, foreign exchange bureaus, colleges and universities, airlines and governments.
The Company offers commercial payment solutions that help large corporations, mid-sized companies, small businesses and government entities streamline their procurement and payment processes, manage information and expenses and reduce administrative costs. Its offerings and platforms include corporate cards (including premium, purchasing and fleet cards, as well as cards that combine these functionalities) that allow corporations to manage travel and entertainment expenses, streamline the procurement process and provide corporations with additional transactional detail; SmartData, a MasterCard-powered tool that provides information reporting and expense management capabilities; procurement, travel, purchasing, fleet and other payment programs for government entities, and credit and debit programs targeted at the small-business segment that offer the ability to gain access to working capital, to extend payments and to separate business expenses from personal expenses.
The Company, through MasterPass, provides a digital wallet service to make online shopping safe and easy for all types of transactions - in-store, online and via mobile devices - by storing payment and shipping information in one convenient and secure place. Through numerous active partnerships with mobile leaders around the world-including Samsung, Deutsche Telekom, and Isis (a joint venture formed in the United States by AT&T, Verizon, and T-Mobile), the Company enables consumers to securely use their smartphones to make digital payments. The Company provides money transfer and global remittance solutions to enable consumers, particularly in developing markets, to send and receive money quickly and securely around the world.
The Company offers products and services to detect, prevent and respond to fraud and ensure the safety of transactions made on its products. In many markets, many of its products provide consumers with the benefit of zero liability or no responsibility for losses, in the event of fraud, and it continues to focus on extending this benefit for other consumers around the world. Its solutions to prevent and detect fraud and enhance the safety of transactions include MasterCard SecureCode, which is a global Internet authentication solution that permits cardholders to authenticate themselves to their issuer using a unique, personal code; MasterCard Site Data Protection Service, which assists customers, merchants and third-party service providers in protecting commercial sites from hacker intrusions and subsequent account data compromises; Fraud Rule Manager, which is a suite of fraud detection and management products and services, and DataCash Gatekeeper 2.0, which is a fraud prevention tool that it provides for merchants.
MasterCard Advisors is the Company’s global professional services group, which provides analysis, data-driven consulting and marketing services solutions to help clients optimize, streamline and grow their businesses. The Company’s information services provide a suite of data analytics and products (including reports, benchmarks, models and insights) that enable customers to make better business decisions. Its consulting services group combines professional problem-solving skills with payments expertise to provide solutions that address the challenges and opportunities of clients with respect to payments. Its services for issuers include a scalable rewards platform that enables issuers to provide their consumers with personalized offers and rewards, access to a global airline lounge network, global and local concierge services, a range of individual insurance coverages, emergency card replacement, emergency cash advance services and a 24-hour cardholder service center to provide information related to benefits and rewards programs. Its suite of services for merchants include a targeted offers and rewards campaign management service for publishing offers, as well as opportunities for holders of a co-brand or a merchant's loyalty card or a member of a third-party-managed rewards program to obtain reward points faster.
The Company competes with Visa, American Express, Discover, JCB, UnionPay, First Data Corporation, FIS, Interac, EFTPOS, Bankserv, Total System Services, Inc., PayPal, Google, Amazon, Isis and Facebook.
2000 Purchase Street
PURCHASE NY 10577
Company Web Links
- MasterCard, Visa form group to push for better card security
- UPDATE 3-MasterCard, Visa form group to push for better card security
- Mastercard, Visa form cross-industry group for payment security
- Mastercard, Visa form cross-industry group for payment security
- EU regulator accepts Visa Europe's credit fee cap offer