Mastercard: Difference between revisions
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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 in Dallas, Texas. |
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 in Dallas, Texas. |
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In 2005, MasterCard |
In 2005, MasterCard began to roll out PayPass in certain U.S. markets. As of November, the following financial institutions have issued the MasterCard PayPass: |
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# [[MBNA ]] |
# [[MBNA ]] |
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Revision as of 07:09, 13 November 2005
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MasterCard Incorporated is a membership organisation owned by the 25,000 financial institutions that issue its card. MasterCard is also the company's brand of credit cards.
It was originally created by United California Bank, Wells Fargo, Crocker Bank, and the 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.
The name Master Charge was licensed by these California banks from the First National Bank of Louisville, Kentucky in 1967. With the help of New York's Marine Midland Bank (now HSBC), these banks joined with the Interbank Card Association (ICA) to create "Master Charge: The Interbank Card".
In 1980, "Master Charge: The Interbank Card" was renamed "MasterCard".
Based on an SEC filing in early 2005, MasterCard's largest current shareholders are:
- JPMorgan Chase - 11.7%
- Citigroup - 6.2%
- Bank of America - 6%
- Euro Kartensysteme - 5.2%
- Europay France - 5.0%
The company plans to convert from a cooperative organization to a for-profit company with an initial public offering in late 2005.
Controversy
In April, 2001 Mastercard sent Brad Templeton a cease and desist notice demanding he remove a joke from his website on the usenet newsgroup rec.funny, which parodied Mastercard's strapline priceless advertising campaign with a somewhat tasteless comparison to the two shooters in the Columbine High School masacre. Mastercard's lawyers were of the opinion that the parody of their mark constituted trademark infringement, despite the joke having appeared years earlier. Mastercard backed down from the demand after public exposure. Templeton carries a copy of Mastercard's demand letter on his website.
During 2001 Mastercard also threatened litigation over Ralph Nader's use of their priceless trademark in a reference to corporate politics and other activities Mr. Nader disagreed with. Other web sites which also did parodies of master card were sent notices to cease and desist during 2001.
Mastercard also backed down in these attempts to silence critics when the letters were made public after those who were served with cease and desist letters claimed their uses were parody. In light of the court decision against Eveready batteries in its fight against Adolph Coors, the claims that the articles represent parody have strong legal standing.
In 2005, tickets went on sale for the Football World Cup 2006. Having been the primary sponsor for a number of years, MasterCard secured a deal which gave them the exclusive rights to credit card sales of tickets. This effectively shut out people without this brand of credit card, with the only option being a £30 bank transfer.
Also, Washington Redskins owner Daniel Snyder had planned to only allow season ticket holders to renew their seats for the 2005 season by only using the Washington Redskins Extra Points MasterCard, cash or check. However, at the request of MasterCard International, the Redskins backed off on this plan, and are now allowing the use of any kind of MasterCard to be used. No other card brand can be used.
MasterCard is not alone in the use of these exclusive deals, their competitors VISA have a similar deal with the International Olympic Committee through 2012.
MasterCard Board of Directors
As of December, 2004, the following banks are represented on MasterCard's board of directors:
- Europay España, S.A.
- HSBC
- Clarima Banca
- Capital One
- Banamex (Citigroup's Mexician division)
- Citigroup
- The Royal Bank Of Scotland
- MBNA America
- Westpac Banking Corporation
- Southern Bank Berhad
- Bank of Montreal
- Banque Fédérative du Crédit Mutuel
- Deutscher Sparkassen-und Giroverband
- Orient Corporation
PayPass
MasterCard PayPass is a new "contactless" payment feature that provides cardholders with a simpler way to pay by tapping your 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 in Dallas, Texas.
In 2005, MasterCard began to roll out PayPass in certain U.S. markets. As of November, the following financial institutions have issued the MasterCard PayPass:
- MBNA
- JPMorgan Chase (available through its "Blink" contactless feature)
- Citibank (both MasterCard credit and debit cards)
- HSBC (debit card only)
- Key Bank (debit card only)
See also
External links
- Official website
- Yahoo! - MasterCard Incorporated Company Profile
- "MasterCard fingers partner in 40m card security breach" at The Register, 18 June 2005
- USA Paycard Prepaid Credit Cards- Prepaid Credit Card Information