Information AboutMastercard |
| CATEGORIES ABOUT MASTERCARD | |
| credit cards | |
| contactless smartcards | |
| former cooperatives | |
| companies established in 1966 | |
MasterCard Worldwide () is a mutinational corporation based in Purchase, NY in the United States. Throughout the world, its principal business is to process payments between the banks of merchants and the banks of purchasers that use its "Mastercard" branded debit- and Credit Cards to make purchases. Mastercard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, Mastercard Worldwide was a Membership Organization owned by the 25,000+ Financial Institutions that issue its card. It was originally created by United California Bank (later First Interstate Bank , subsequently merged into Wells Fargo Bank), Wells Fargo , Crocker National Bank (also subsequently merged into Wells Fargo), and the Bank Of California (subsequently merged into the Union Bank of California) as a competitor to the BankAmericard issued by Bank Of America . BankAmericard is now the VISA credit card, issued by Visa International . HISTORY The name Master Charge was Licensed by the above mentioned California Bank s from the First National Bank Of Louisville, Kentucky in 1967. With the help of New York 's Marine Midland Bank , now HSBC Bank USA , these banks joined with the Interbank Card Association (ICA) to create "Master Charge: The Interbank Card". In MasterCard bought the British Access Card and the Access name was dropped. In 2002 , MasterCard International absorbed Europay International SA , another large credit-card issuer association, which for many years issued cards under the name Eurocard. In , June 28 , 2006 FEATURES Most versions of the card include various features such as extended warranties on items bought with the card, Damage Waiver on cars rented with the card, and accident insurance during travel bought with the card. SHAREHOLDERS Based on an . Are these pre-IPO numbers or post-IPO numbers? --> #11.8% - JPMorgan Chase # 6.2% - Citigroup # 6.0% - Bank Of America # 5.2% - Euro Kartensysteme # 5.0% - Europay France IPO The Company , which had been organized as a Cooperative of banks, had an Initial Public Offering on May 25 , 2006 at $39.00 USD. The stock is traded on the NYSE under the symbol MA. LITIGATION Both MasterCard and Visa have paid approximately $3 billion in damages resulting from a cites several Retail giants as Plaintiffs , including Wal-Mart , Sears Roebuck & Company , and Safeway . VISA CHECK/MASTERMONEY ANTITRUST LITIGATION WEBSITE ADVERTISING MasterCard's current advertising campaign is "There are some things money can't buy. For everything else, there's MasterCard." The first of these ''Priceless'' ads was run during the World Series in 1997 and there are numerous different TV, radio and print ads. Priceless Film Festival It was created by , Retreieved July 5th 2006 Actor Billy Crudup has been the voice of the ads in the USA since 1997. In other countries the voiceover artist changes to suit the local market; in the UK, for instance, actor Jack Davenport is the voice. This campaign attempts to position MasterCard as the friendly credit card company with a sense of humor. They are designed to respond to the public's worry that everything is being commodified, and that people are becoming too materialistic. Priceless , Jim Farrell, New American Dream , Retreieved July 5th 2006 During Super Bowl XXXIX on February 6 , 2005 , a MasterCard commercial was introduced featuring 10 legendary advertising characters from various foods and household products. The characters included Chef Boyardee , Charlie The Tuna , the Pillsbury Doughboy , Count Chocula , the Vlasic pickle stork, the Morton Salt girl, the Jolly Green Giant , Mr. Peanut from Planters , the Gorton's fisherman, and Mr. Clean . SPORTS SPONSORSHIP MasterCard currently sponsors the New Zealand All Blacks , the country's world famous rugby union team.http://www.mastercard.com/nz/promotions/allblacks2006/ MasterCard also sponsors the UEFA Champions League . For many years, it also sponsored FIFA World Cup but withdrew its contract after a court settlement and its rival Visa took up the contract in 2007 {Link without Title} . It is currently the sponsor of the Memorial Cup Tournament of the Canadian Hockey League . MasterCard has just announced new sponsorship deal with Australian Cricket team. In , MasterCard was the main sponsor of the aborted MasterCard Lola Formula One team. MANAGEMENT AND BOARD OF DIRECTORS Key executives include: MasterCard Investor Relations , accessed 04 November 2006
As of December 2004, the following banks are represented on MasterCard's Board Of Directors :
In January 2005, Washington Mutual Bank , the third largest issuer of Debit Card s in the United States, announced that it was changing its debit-card branding from VISA to MasterCard. The change will make Washington Mutual MasterCard's largest bank customer. MASTERMONEY MasterMoney is the branding of a MasterCard Debit Card distributed in North America . Like many debit cards, the brand has capabilities of being used as an ATM Card as well as a Credit Card , providing sufficient funds are in one's Bank Account (usually a Checking Account ) in order to complete a transaction. PAYPASS MasterCard PayPass is a new "contactless" payment feature based on the ISO 14443 standard that provides cardholders with a simpler way to pay by tapping a payment card or other payment device, such as a phone or key fob, on a point-of-sale terminal reader rather than swiping or inserting a card. In 2003, MasterCard concluded a nine-month PayPass market trial in Orlando, Florida , with JPMorgan Chase , Citibank , and MBNA . More than 16,000 cardholders and more than 60 retailer locations participated in the market trial. In addition, MasterCard worked with Nokia , AT&T Wireless , and JPMorgan Chase to incorporate MasterCard PayPass into mobile phones using Near Field Communication technology, in Dallas, Texas . In 2005, MasterCard began to roll out PayPass in certain markets. As of July 2007, the following financial institutions have issued the MasterCard PayPass: # Bank Of America # JPMorgan Chase (available through its " Blink " contactless feature) # Citibank (both MasterCard credit and debit cards) # HSBC Bank USA (debit card only) # Key Bank (debit card only) # Citizens Bank And Charter One Bank (both MasterCard credit and debit cards) # Commonwealth Bank (Australia) # Garanti Bank (Turkey, available through its Bonus Trink Card) # Banco De Oro Universal Bank (Philippines, available through its BDO International ATM Card) # Bank Of Montreal (Canada, available only if requested by consumer by phone) # President's Choice Financial (Canada) # Washington Mutual (available only in New York City and Seattle branches) MYPLASH ]] |
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