Mastercard has told payment processors and banks to stop allowing marijuana transactions on its debit cards. Following cease-and-desist letters sent by Mastercard last week, companies that facilitated PIN debit payments for cannabis have been attempting to provide alternatives to the dispensaries that were using them,...
Mastercard has launched a solution designed to help businesses implement secure digital account opening. The company’s enhanced Open Banking for Account Opening provides account owner verification and identity insights in a single application programming interface (API), helping financial institutions and FinTechs in their digital account...
Mastercard has unveiled a number of updates to its “Digital Doors” small business program. Among these new features are a marketing hub platform and new partnerships, the company said in a Tuesday (May 2) news release. Timed to coincide with Small Business Month, the rollout...
Mastercard is cooperating with an antitrust investigation by the U.S. Department of Justice (DOJ). The firm received a Civil Investigative Demand (CID) from the DOJ Antitrust Division in March and is cooperating with the investigation, Mastercard said in its quarterly report released Thursday (April 27)....
Mastercard’s earnings results show that U.S. consumers continue to embrace credit cards for everyday spending. The supplemental materials provided by the payments network showed that gross dollar volumes were up 15%, to $2.1 trillion. In the U.S. volumes gained 9% to $673 billion. Drilling down...
Mastercard has launched a suite of solutions for female business owners in Latin America and the Caribbean. The solutions include access to financing, continuous education and a health program, Mastercard said in a Tuesday (April 11) press release. “With these resources, Mastercard aims to help...
Mastercard has debuted a tool to help financial institutions (FIs) simplify cross-border payments. Cross-Border Services Express lets FIs set up international payments for their customers, both consumers and small- to medium-sized businesses (SMBs), which have a need for better cross-border payment capabilities, according to a...
Mastercard says its days of using new plastic to make cards is near an end. The company announced in a Wednesday (April 5) press release it is speeding up its efforts to remove “first-use” PVC plastics from its payments card by 2028. “As our customers...
Mastercard has acquired security firm Baffin Bay Networks to help its business clients fend off cyberattacks. Based in Sweden, Baffin Bay “adds to Mastercard’s multi-layered approach to cybersecurity and helps to stop attacks, while mitigating exposure to risk across the ecosystem,” the payments giant said...
