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A quarter of Brits plan to make a mobile payment in the next 12 months
Following the launch of Apple Pay in the UK last week, new MasterCard figures show that the British public are willing to embrace mobile payments despite some hesitation. 1 in 4 British consumers (25%) said that they expect to make a contactless payment with their mobile in the next year. Furthermore, in terms of how [...]
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Antitrust: Commission sends Statement of Objections to MasterCard on cross-border rules and inter-regional interchange fees
The European Commission has sent a Statement of Objections to MasterCard. The Statement of Objections outlines the Commission’s preliminary view that MasterCard’s rules prevent banks from offering lower interchange fees to retailers based in another Member State of the European Economic Area (EEA), where interchange fees may be higher. As a result, retailers cannot benefit [...]
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Card networks economics: Increased profitability post-IPO
The card networks, Visa and MasterCard have grown significantly and altered their market approaches since their initial public offerings (Visa in 2008, MasterCard in 2006). While market headwinds, including the great recession and the Durbin Amendment, have created hurdles, gross dollar volume has increased at a 9.9% and 10.0% CAGR between 2008 and 2014, for [...]
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Visa and MasterCard shares surge as China ends card monopoly
Shares in Visa Inc. and MasterCard Inc. climbed the most since October after China’s government indicated it plans to end a monopoly in bank-card clearing. Visa gained 4.1% to close at $68.01 in New York, the best performance in the Dow Jones Industrial Average. MasterCard advanced 3.9% to $91.20. Rules published Wednesday by China’s State [...]
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Samsung waives fees for Samsung Pay mobile payment service
Samsung, which is gearing up to launch its own mobile payment service, Samsung Pay, in Korea and the US this summer, has decided not to collect fees on Samsung Pay to help dominate the rapidly-growing mobile payments market. Samsung’s move appears to be aimed at securing new markets related to mobile payments, rather than putting [...]
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