Mastercard

Tech giant Apple has joined the 'buy now, pay later' service with the new Apple Pay Later, which was announced at the Worldwide Developers Conference (WWDC) 2022.According to CNBC, a wholly-owned subsidiary of Apple will check user credit and extend short-term loans to the users for Apple Pay Later.The new loan service, which will compete against similar offerings from Affirm and PayPal, was announced this week. Later this year, when the company's new iOS 16 iPhone software is released, users will be able to buy products…

The business landscape is rapidly evolving today with technological advancement. The convergence of technologies like artificial intelligence, automation, robotics, the internet of things (IoT), and big data analytics is enhancing the ability to make real-time decisions, capture streaming data and add value to consumers’ interests. Mastercard is focused on building simple, safe, and smart digital solutions for its consumers keeping safety and security at the core of the business, and delivering better experiences…

SYDNEY: The Australian Competition and Consumer Commission (ACCC) on Monday started legal proceedings in the Federal Court against Mastercard for allegedly stifling competition in the supply of debit card acceptance services.The consumer watchdog said in a statement that it has instituted proceedings against Mastercard Asia/Pacific Pte Ltd and Mastercard Asia/Pacific (Australia) Pty Ltd.Mastercard's alleged anti-competitive conduct commenced in late 2017 in the context of the Reserve Bank of Australia's "least cost…

The Australian Competition and Consumer Commission (ACCC) has started legal proceedings in the Federal Court against Mastercard Asia Pacific and Mastercard Australia for alleged anti-competitive conduct that substantially lessened competition in the supply of debit card acceptance services.The consumer watchdog alleges between November 2017 to at least November 2020 that Mastercard had a "substantial degree of power" in the market for the supply of credit card acceptance services under the Reserve Bank of Australia's…

Mastercard's biometric checkout technology lets users pay by scanning their face or palm.MastercardMastercard is piloting new technology that lets shoppers make payments with just their face or hand at the checkout point.The company on Tuesday launched a program for retailers to offer biometric payment methods, like facial recognition and fingerprint scanning. At checkout, users will be able to authenticate their payment by showing their face or the palm of their hand instead of swiping their card.The program has already…

Digital financial services firm One97 Communication Limited, which owns the Paytm brand, has tokenised 28 million cards across Visa, Mastercard and RuPay, and expects to purge saved card data by June 30, the company said on Thursday. The tokenised cards account for 80 percent of monthly active cards on the Paytm app, it added."Paytm is committed to safe and secure online payments, and in that direction, RBI's tokenisation effort is a key milestone for the industry. We recognised the need for tokenised cards and…

First City Monument Bank (FCMB), a member of FCMB Group Plc, has partnered with the Mastercard Foundation to provide subsidized loans to 100,000 Micro, Small, and Medium Enterprises (MSMEs), to scale their operations to create work opportunities for young Nigerian women and men. The programme, which is part of the Mastercard Foundation’s Young Africa Works strategy in Nigeria, aims to sustainably move Nigerian youth out of poverty. It is being executed through a novel $27.8 million (about…