Mastercard

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Mastercard Incorporated

logo
legal form Corporation
ISIN US57636Q1040
founding 1966
Seat Purchase , New York , United States
United StatesUnited States 
management Ajaypal Singh Banga
( CEO )
Richard N. Haythornthwaite
( Chairman )
Number of employees 18,600 (2019)
sales $ 16.9 billion (2019)
Branch Financial services
Website www.mastercard.com
As of December 31, 2017

Typical Mastercard credit card with embossing and hologram
Mastercard debit card without embossing and with a hologram on the back
Hologram as a security feature on the back of a Mastercard credit card in diffuse light
Hologram as a security feature on the back of a Mastercard credit card in directed, oblique light

The MasterCard Incorporated , based in Purchase , New York is a listed payment service provider and employed 2019 approximately 18,600 employees. Along with VISA, Mastercard is one of the two major international companies for payment cards ( credit cards , debit cards and prepaid cards ).

Companies

Mastercard grants licenses to banks around the world for the output of their cards ( Issuing - licenses ) and for the recruitment of contractors ( Acquiring licenses). The Mastercard is accepted by around 35 million contracting companies and around one million cash withdrawal points worldwide (as of 2014). In Germany, the card is accepted by around 515,000 contract companies.

The product portfolio includes the Mastercard credit card , issued in Europe from 1964 to 2003 as Eurocard , the Maestro debit cards (mainly in Europe ), Debit Mastercard or Mastermoney ( USA only ) and Mastercard electronic (mainly in Eastern Europe and Asia ) and the Cirrus cash withdrawal card . There is also a Mastercard Prepaid , which is topped up with money via bank transfer or standing order . There is no risk of exceeding your personal credit line. A variant of this card is the Mastercard Prepaid Youth , which can be blocked for individual retailer categories such as gambling and / or erotic offers. According to the company, the secure payment method Mastercard Identity Check (SecureCode) is available for online payments .

Mastercard was, together with Europay International ( Eurocard ) and Visa International Service Association, one of the founders of the EMV specification for credit cards with a chip.

In 1951, Franklin Bank in New York City issued the first Mastercard. Today you can pay with Mastercard in more than 210 countries. In 2013, Mastercard (97th place, 4.2 billion US dollars) was the third after Visa (74th place, 5.4 billion US dollars) and American Express (23rd place, 17.6 billion US dollars). most valuable credit card brand in the world.

The company is one of the first major members of the FIDO alliance , which developed the industry standard Universal Second Factor (U2F) for generally applicable two-factor authentication .

In 2001 Mastercard merged with Europay International. Mastercard bought the UK payment service provider DataCash in 2010 for $ 517 million.

In the fall of 2015, Mastercard started a pilot project in the USA in which payment for online purchases is to be tested using biometrics . The authentication methods used here are voice recognition, self-portrait and fingerprint, if the respective device allows this. Heart rate should also be an authentication method in the near future. For this purpose, Mastercard acquired shares in the Canadian company Bionym in 2014 , which produces wristbands for measuring heart rate. Two other companies have been part of the Mastercard family since 2017. NuData Security, a company that specializes in the use of passive biometrics to detect fraudulent activity on accounts, has been acquired. The second acquisition was VocaLink , a company that is "successful in implementing Fast ACH (Automatic Clearing House) in developed and emerging markets."

The European Commission imposed on 22 January 2019 fine of 570.566 million euros against MasterCard, as is the possibility of traders, better conditions to use of banks from other countries in the internal market, in breach of EU antitrust rules has been limited. Mastercard's regulations have prevented merchants from taking advantage of better terms from banks in other EU member states. "The cost of card payments has been artificially increased and to the detriment of consumers and retailers in the EU," said EU Competition Commissioner Margrethe Vestager . Mastercard is the second largest card payment system in the European Economic Area (EEA) and has recognized the fine.

In June 2019 it was announced that Mastercard had acquired an interest in the Internet currency Libra . In August 2019 it was announced that Mastercard was taking over part of Nets for almost three billion euros.

Business and employee development (the fiscal year ends on June 30th)
year Sales
in US $ million
Balance sheet profit
in million US $
Price per share
in US $
Employees
2005 2,938 267 4,300
2006 3,326 50 6.68 4,600
2007 4,068 1,086 14.35 5,000
2008 4,992 -254 21.30 5,500
2009 5,099 1,463 18.78 5,100
2010 5,539 1,843 22.93 5,600
2011 6,714 1,906 29.85 6,700
2012 7,391 2,759 43.11 7,500
2013 8,312 3.116 61.32 8,200
2014 9,441 3,617 77.56 10,300
2015 9,667 3,808 92.66 11,300
2016 10,776 4,059 95.88 11,900
2017 12,497 3,915 127.39 13,400
2018 14,950 5,859 191.68 14,800
2019 16,883 8,118 256.23 18,600

PayPass

Back of a Mastercard with visible EMV chip and NFC antenna

Mastercard cards with PayPass logo enable contactless payments up to a certain limit without authenticating the cardholder thanks to their radio chip . The limit in the euro zone is 25 euros, in Switzerland 40 francs. It is possible to carry out Paypass transactions with a higher amount, but the cardholder must then be authenticated by means of a signature or PIN entry. Which method is permitted depends on the settings of the card. In some countries (including Germany, Austria, Switzerland) authentication via PIN is possible, other markets do not allow this. In such a case, the card can be inserted and a conventional contact-based transaction can be carried out. With the PayPass functionality, both credit cards (Mastercard PayPass) and debit cards (Maestro PayPass) can be issued. The amount is then either debited from an account or has to be topped up beforehand (prepaid). Since the communication between the card and the terminal is contactless, it does not have to be a card; the PayPass functionality can also be used with RFID stickers (which you can stick on a cell phone, for example), RFID watches or NFC telephones etc. are implemented.

The customer authorizes the payment by holding his credit card with contactless payment function in front of a corresponding terminal of the merchant or payee. The terminal reads the required data contactlessly and in turn confirms the payment process with an acoustic and optical signal. With this contactless form of cashless payment, the customer is no longer required to hand his card out, insert it into a terminal, enter his PIN, press a confirmation button or sign a receipt. It is even sufficient if you simply hold your entire wallet, which contains the card, in front of the reader; However, this does not work if the wallet also contains other radio chip cards to which the reader responds, such as the new German ID card , whereupon the payment then fails. Contactless payment saves time and is easier to use than any other previous payment method, including cash.

Concerning the security of this procedure, concerns have already been voiced, since the procedures used open up the possibility of accessing personalized information, double payment execution and unwanted copying of the card.

Mastercard Displaycard

In November 2012, the Singapore- based Standard Chartered Bank announced that it would be issuing a new credit card with an integrated screen and keyboard to its customers. The so-called display card is a fully-fledged Mastercard and is equipped with both touch-sensitive buttons and a monochrome display that are used for authentication. For example, the bank and Mastercard promise to curb fraud when shopping on the Internet.

Master pass

Master Pass is a digital wallet with you, according to Mastercard safe and can pay on the internet quickly. Masterpass was active in Germany from 2015 to 2019. In October 2019, Mastercard launched the Click to Pay payment service in the USA together with Visa, American Express and Discover .

Sponsorship

Mastercard sponsors various sporting events such as the UEFA Champions League. The FIFA World Cup and a Formula 1 team have also been sponsored in the past.

Logos

criticism

Mastercard and Visa systematically discriminated against American Express in the 1980s and 1990s. With special clauses in contracts, Mastercard tried to prevent banks from doing business with American Express. These clauses and other documents were used by the US Department of Justice to crack down on Mastercard and Visa. In 2004 American Express filed a lawsuit over these antitrust violations. In 2008, Mastercard agreed to a settlement and paid American Express $ 1.8 billion.

In 2016, Mastercard was sued in Great Britain for 16.5 billion euros in damages. The company was accused of driving prices up for consumers by charging too high. The lawsuit was dismissed by the competent court in July 2017. In January 2019 the EU Commission also imposed a fine of 570 million euros on Mastercard for excessive fees.

There was a data leak in the “Priceless Specials” Mastercard bonus program launched in Germany at the beginning of 2018; In August 2019, sensitive data from around 90,000 Mastercard customers (including names, credit card numbers, email, postal address, date of birth, telephone number) were published on the Internet. The bonus program ended at the beginning of June 2020.

Web links

Commons : Mastercard  - collection of images

Individual evidence

  1. Mastercard History & Key Milestones. Retrieved October 23, 2017 .
  2. a b Mastercard: Annual Report 2019. (PDF) In: https://investor.mastercard.com/investor-relations/default.aspx . Retrieved June 4, 2020 .
  3. ^ Franz Nestler: Paying on vacation: What belongs in the travel budget . In: Frankfurter Allgemeine Zeitung . June 27, 2014, ISSN  0174-4909 ( faz.net [accessed August 22, 2017]).
  4. Mastercard Identity Check | Advantages & registration. Retrieved April 2, 2018 .
  5. millwardbrown.com - BrandZ Top 100 2013 Report (PDF; 26.2 MB)
  6. New security standards: IT companies dream of the death of the password . In: Frankfurter Allgemeine Zeitung . September 20, 2015, ISSN  0174-4909 ( faz.net [accessed August 22, 2017]).
  7. Trend towards consolidation and globalization: Europay and Mastercard want to merge . ( handelsblatt.com [accessed September 17, 2017]).
  8. MasterCard to Acquire DataCash for 333 million pounds . In: Bloomberg.com . August 19, 2010 ( bloomberg.com [accessed September 17, 2017]).
  9. heise online: Pay biometrically with Mastercard. Retrieved September 4, 2017 .
  10. Mastercard is working on biometrics as an authentication method. July 7, 2015, archived from the original on July 13, 2015 ; Retrieved April 29, 2017 .
  11. Darrell Etherington: Bionym Raises $ 14M Series A For Its Heartbeat Authentication Wristband | TechCrunch. Retrieved August 29, 2017 .
  12. ^ Matthew Cochrane: Mastercard Inc to Acquire NuData Security: What Investors Need to Know - The Motley Fool . In: The Motley Fool . ( fool.com [accessed August 29, 2017]).
  13. ^ Matthew Cochrane: Mastercard's Mission to Become a Full-Service Payments Network - The Motley Fool . In: The Motley Fool . ( fool.com [accessed August 29, 2017]).
  14. Antitrust: Commission fines Mastercard EUR 570 million for obstructing merchants' access to cross-border card payment services. In: europa.eu . Retrieved January 22, 2019 .
  15. This is how Facebook money works. In: oe24.at . June 18, 2019, accessed June 18, 2019 .
  16. Elisabeth Atzler: Mastercard is investing three billion euros in the payment provider Nets. In: handelsblatt.com . August 6, 2019, accessed August 10, 2019 .
  17. Mastercard Financial Statements. Retrieved February 11, 2020 .
  18. Mastercard share prices. Retrieved June 4, 2020 .
  19. Mastercard employee figures. Retrieved June 4, 2020 .
  20. Employee numbers 2019 (Annual Report 2019, see page 18). In: https://investor.mastercard.com/investor-relations/default.aspx . Retrieved June 4, 2020 .
  21. FOCUS Online: NFC technology: This is how contactless payment with credit card works . In: FOCUS Online . ( focus.de [accessed September 4, 2017]).
  22. Pay contactless: Customers need to know that. Swiss Radio and Television SRF, April 30, 2014, accessed on September 4, 2017 (Swiss Standard German).
  23. Jörg Thoma: Paypass via NFC with gaps. In: Golem.de . May 18, 2012. Retrieved April 29, 2017 .
  24. Lars Budde: The new MasterCard has a display and keyboard. In: t3n magazine . November 8, 2012, archived from the original on November 13, 2012 ; Retrieved November 14, 2012 .
  25. René Hesse: Mastercard closes Masterpass in Germany. In: mobiflip.de. October 4, 2019, accessed October 30, 2019 .
  26. Manuel Bauer: Click to Pay: New payment service from Mastercard & Co. In: computerbild.de. October 24, 2019, accessed November 30, 2019 .
  27. Visa signs $ 170m deal with Fifa . June 28, 2007 ( bbc.co.uk [accessed November 6, 2018]).
  28. SS Collins: Unraced ...: Formula One's Lost Cars . Veloce Publishing Ltd, 2007, ISBN 978-1-84584-084-6 ( google.com [accessed November 6, 2018]).
  29. Mastercard Evolves Its Brand Mark by Dropping its Name. Retrieved June 8, 2019 (American English).
  30. ^ The Oligopoly Problem. Retrieved September 6, 2017 .
  31. American Express Sue's Visa, MasterCard . In: msnbc.com . November 15, 2004 ( nbcnews.com [accessed September 6, 2017]).
  32. Eric Dash: MasterCard Will Pay $ 1.8 Billion to American Express . In: The New York Times . June 26, 2008, ISSN  0362-4331 ( nytimes.com [accessed September 6, 2017]).
  33. Credit cards: Billions in damages lawsuit against Mastercard . ( handelsblatt.com [accessed September 20, 2017]).
  34. ^ Frankfurter Allgemeine Zeitung GmbH: Credit cards: Court rejects billions in class action lawsuit against Mastercard. July 23, 2017. Retrieved September 20, 2017 .
  35. https://www.zeit.de/wirtschaft/unternehmen/2019-01/kreditkartendienstleistungen-mastercard-strafe-eu-kommission-ueberhoehte-gebuehren
  36. Data leak: Mastercard bonus program: German customer data published online. In: Handelsblatt. Retrieved September 1, 2019 .
  37. Data leak - priceless! In: Süddeutsche Zeitung . ( sueddeutsche.de [accessed on August 22, 2019]).
  38. From: Editor: Frankfurt: MasterCard ends Priceless Specials program. Retrieved on June 4, 2020 (German).


Coordinates: 41 ° 1 '25 "  N , 73 ° 42' 53"  W.