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MasterCard to apply for Chinese payment license
MasterCard is reportedly applying to become a payment service provider in China after the government opened the market, but the company is still weighing whether to do so alone or with a partner, senior executives said. The world’s most populous country is “pretty crucial” to its future, but MasterCard is still studying rules in China that [...]
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PayPal and Visa enter into partnership
Unlikely partners, PayPal and Visa, announced a US strategic partnership that will result in an improved and more seamless payment experience for Visa cardholders and will offer greater choice in how consumers pay with the PayPal and Venmo wallets. The partnership puts PayPal and Visa on a new path, with the companies working more collaboratively [...]
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Asia-Pacific payments cards volume 2015 Vs 2014
Spending for goods and services tied to payment cards issued in the Asia-Pacific region are identified by network brands – Visa, UnionPay, MasterCard, JCB, American Express, and Diners Club.
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Russian Ministry of Finance to regulate Bitcoin
The Russian Ministry of Finance are reported to have begun discussions to treat cryptocurrencies, including Bitcoin, as a foreign currency. This action follows the Party of Growth proposal —a political party in Russia which represents the liberal free market economy—to legalize Bitcoin. Ministry representatives said that while cryptocurrency-based business operations are still illegal in Russia, the [...]
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MasterCard acquisition of VocaLink concludes
MasterCard announced that it has entered into a definitive agreement to acquire 92.4% of VocaLink for about £700 million (approximately $920 million), after adjusting for cash and certain other estimated liabilities. VocaLink’s existing shareholders have the potential for an earn-out of up to an additional £169 million (approximately $220 million), if performance targets are met. This transaction [...]
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