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MasterCard Challenges the Limits of Innovation

El Pais [Note: PDF in Spanish] | November 20, 2012

MasterCard has decided to challenge the limits of innovation and has proposed finding solutions to problems in just 48 hours. The center of this proposal is the innovation laboratory in Dublin, which started to function last month, under the guidance of Gary Lyons, innovation responsible.

Employees are asked and expected to participate in an open process of solutions finding, comprising the elaboration of the strategy for the commercialization of their idea. MasterCard wants to position itself as innovator in the field of technological payment solutions.

Until now, MasterCard has developed various technological solutions based on the idea that payment is not a unidirectional process anymore. Some 85% of payments are still being done in cash, which leaves enough room for innovation.  MasterCard signed last year various agreements with Telefonica and Intel to consolidate mobile payment services in Latin America.

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MasterCard Launches Credit Card with Built-In LCD, Keyboard

PC Magazine | November 20, 2012

Facing ever-mounting pressure from the likes of Square, Paypal, Google Wallet, and others, traditional credit card companies like Visa and MasterCard are facing technology-driven challenges unlike any they’ve seen before. And while the Internet appears to be the primary disruptive element powering those new challenges, MasterCard has decided that its strategy for competing with payment service upstarts lies in creating an innovative new card that is fully interactive.

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Social Security And Welfare Payments Go Biometric

Fast Company | September 26, 2012

In South Africa, MasterCard has unveiled one of the world’s first debit card-based payment systems for welfare benefits and social security. The new project, released for the South African Social Security Agency (SASSA), will disburse government pension, disability, and public assistance payments onto a biometric debit card. Unlike normal debit cards, the South African cards require users to have their fingerprints and voices digitally analyzed by computers. In effect, they’re the next generation of the EBT cards commonly used for food stamps in the United States.

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MasterCard Moves Into Myanmar With First License Issued to Bank

Bloomberg Businessweek | September 6, 2012

MasterCard Inc. (MA) became the first payments network to issue a license to a Myanmar bank as the Southeast Asian nation moves toward integrating with the global financial system after decades of military rule.

MasterCard entered the agreement this month with Myanmar’s Co-Operative Bank Ltd., which has the largest network of automated teller machines in the country, according to a statement today. The license will allow the bank to issue MasterCard-branded cards and enable merchants to accept them, according to the statement.

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Mastercard’s digital-wallet deal with Everything Everywhere

BBC News Technology | August 28, 2012

Mastercard has secured a deal with the UK’s biggest mobile telecoms operator to promote its digital wallet services. The US-based payments company will co-develop services with Everything Everywhere (EE), which runs Orange and T-Mobile branded services. Mastercard said the move would support the “accelerated adoption” of payments made with mobile devices thanks to EE’s 27-million-strong customer base.

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