Mastercard Incorporated (NYSE:MA) was founded in 1966 and is headquartered in Purchase, New York, USA. It has 14,800 employees worldwide. It is a leading global payment company. Mastercard is committed to providing global consumers with a more convenient and efficient Financial payment environment.
Mastercard Inc. (MA):
American financial institutions created an international credit card system in the late 1950s and early 1960s, and it became popular all over the world.
On August 16, 1966, four banks in California (United California Bank, Wells Fargo Bank, Wells Fargo, Crocker Bank, and Bank of California) in order to issue an issue with Bank of America BankAmericard ( the predecessor of the Visa card ) competed and established the Interbank Card Association (ICA).
In 1968, Banco Nacional, European EuroCard and Bank of Japan joined, making ICA an international organization.
In 1970, ICA officially used the MasterCharge name and logo and changed its name to MasterCard® in 1980 .
MasterCard International has issued MasterCard ® credit cards and Maestro ® debit cards through its members . As of December 31, 2014, MasterCard International has developed into a New York Stock Exchange-listed limited company consisting of more than 25,000 financial institution members, serving consumers in more than 210 countries and regions, Government and merchants provide services.
Mastercard Inc. (MA) History:
- In 1983, MasterCard first introduced the use of laser holography on the card to prevent counterfeiting, thereby minimizing the fraud losses of member banks. In the same year, it introduced the emergency credit card replacement (ECR) program.
- 1984 was a milestone in the development of Mastercard technology. Banknet, a global transaction processing network, was launched. The INET system runs on this network, and INAS uses this network for equal authorization (PTP) between member banks and member banks. In 1984, the MasterCard automatic point of sale (POS) program reached a fully operational level in the United States, and it further supported the MasterCard POS business.
- In 1987, the Banknet system began to install international outlets to provide member units with a full range of international services and lay the foundation for the next step of international business development. In the same year, the electronic image system was launched in the United States, which transmits images of sales receipts between member banks through Banknet.
- In 1987, Bank of China issued a MasterCard in Mainland China, which was also the first bank card in Mainland China.
- In 1990, this business was promoted as an international business.
- In 1994, anknet established packet switching centers in Bahrain and France, and established processing centers in Australia and China.
- In 1996, MasterCard launched the Japanese network service in Japan, and ran the MasterNet credit card network system in Japan (which reduced the authorization time by 60%).
- In 1995, MasterCard OnLine made its debut.
- In 1996, MasterCard launched the MasterCard Global Services (MasterCard Global Services), which provides cardholders with various countries and local languages, 365 days a year, 24 hours a day and night emergency card replacement business.
- In November 1996, the new Banknet virtual private network (VPN) had the first member of MasterCard.
- From 1997 to 1998, VPN will replace the existing data network, thereby making MasterCard credit and debit card transactions faster and more reliable.
- In December 1996, MasterCard combined with IBM and Dennis Payment Systems (DPS) to use the first end-to-end secure Internet transaction to optimize electronic commerce.
- At the end of 1996, MasterCard issued more than 400 million cards, including more than 300 million credit cards and more than 100 million debit cards. The annual card transaction volume reached nearly 6 billion. The transaction amount exceeded 550 billion U.S. dollars. On Christmas Eve on December 23, 1996, the daily transaction volume of MasterCard reached 200 million, setting a record for its high transaction volume.
- In 2002, MasterCard International and Europay (a European bank card organization) merged from a non-profit organization into a for-profit company.
- On May 25, 2006, the company’s initial public offering (IPO) sold 95.5 million shares at a price of $39 per share. The stock is traded on the New York Stock Exchange under the symbol MA.
- On June 23, 2006, due to MasterCard International regulations, retailers who accept MasterCard credit cards and MasterCard Debit financial cards must pay a certain fee, which limits competition among these retailers. File a lawsuit.
- On August 20, 2010, it acquired the UK-listed payment service provider DataCash Group for 333 million pounds (approximately US$517 million) to expand its e-commerce merchant gateway business.
- On April 4, 2014, the world’s largest retailer Wal-Mart Company ( WMT ) selected MasterCard Group (MA) to process store-branded credit card transactions.