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{{cquote|''tangible item/service: price, tangible item/service: price, tangible item/service: price, intangible item/concept:'' priceless.<br /><br />There are some things money can't buy. For everything else, there's MasterCard.}}
{{cquote|''tangible item/service: price, tangible item/service: price, tangible item/service: price, intangible item/concept:'' priceless.<br /><br />There are some things money can't buy. For everything else, there's MasterCard.}}


This series of ads started in 1996 and there are different numerous TV, radio and print ads.<ref>[http://www.priceless.com/film/film.html Pricess Film Festival]</ref> It was created by [[McCann-Erickson]]. MasterCard actually registered ''Priceless'' as a trademark.<ref>[http://tess2.uspto.gov/bin/gate.exe?f=doc&state=staabl.4.83 Priceless], [[Trademark Electronic Search System]], Retreieved July 5th 2006</ref> Actor [[Billy Crudup]] has been the voice of the ads in the USA since 1997. In other countries the voiceover artist changes to suit the local market; in the UK, for instance, actor [[Jack Davenport]] is the voice.
This series of ads started in 1996 and there are numerous different TV, radio and print ads.<ref>[http://www.priceless.com/film/film.html Pricess Film Festival]</ref> It was created by [[McCann-Erickson]]. MasterCard actually registered ''Priceless'' as a trademark.<ref>[http://tess2.uspto.gov/bin/gate.exe?f=doc&state=staabl.4.83 Priceless], [[Trademark Electronic Search System]], Retreieved July 5th 2006</ref> Actor [[Billy Crudup]] has been the voice of the ads in the USA since 1997. In other countries the voiceover artist changes to suit the local market; in the UK, for instance, actor [[Jack Davenport]] is the voice.


This campaign attempts to position MasterCard as the credit card company with a sense of humor. They are designed to respond to the public's worry that everything is being commodified, and that people are becoming too materialistic.<ref>[http://www.newdream.org/live/column/10.php Priceless], Jim Farrell, [[New American Dream]], Retreieved July 5th 2006</ref>
This campaign attempts to position MasterCard as the credit card company with a sense of humor. They are designed to respond to the public's worry that everything is being commodified, and that people are becoming too materialistic.<ref>[http://www.newdream.org/live/column/10.php Priceless], Jim Farrell, [[New American Dream]], Retreieved July 5th 2006</ref>

Revision as of 18:55, 18 November 2006

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MasterCard Inc.
Company typePublic (NYSE: MA)
ISINUS57636Q1040 Edit this on Wikidata
IndustryFinancial Services
Founded1966
HeadquartersPurchase, New York, United States
Key people
Robert W. Selander, President & CEO
ProductsPayment systems
Revenue22,237,000,000 United States dollar (2022) Edit this on Wikidata
12,264,000,000 United States dollar (2022) Edit this on Wikidata
$300.2 million USD (Increase $44M FY 2005)
Total assets33,584,000,186 United States dollar (2020) Edit this on Wikidata
Number of employees
4,300
Websitewww.mastercard.com

MasterCard Worldwide NYSE: MA is a membership organization 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 National 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.

History

The name Master Charge was licensed by the above mentioned California banks from the First National Bank of Louisville, Kentucky in 1967. With the help of New York's Marine Midland Bank, now HSBC Bank USA, these banks joined with the Interbank Card Association (ICA) to create "Master Charge: The Interbank Card".

In 1979, "Master Charge: The Interbank Card" was renamed to simply "MasterCard". In 2002, MasterCard International absorbed Europay International SA, another large credit-card issuer association, which for many years issued cards under the name Eurocard.

In 2006, MasterCard International underwent another name change to MasterCard Worldwide. This was done in order to suggest a more global scale of their operations. In addition, the company introduced a new corporate logo made up of an additional circle to the traditional two that had been used in the past. A new corporate tagline was introduced at the same time. The tagline is "The Heart of Commerce".[1]

Shareholders

Based on an SEC filing in early 2005, MasterCard's largest current shareholders are:

  1. 11.8% - JPMorgan Chase
  2. 6.2% - Citigroup
  3. 6.0% - Bank of America
  4. 5.2% - Euro Kartensysteme
  5. 5.0% - Europay France

IPO

The company, which had been organized as a cooperative of banks, offered an inital public offering on May 25th 2006 at $39.00 USD and trades on the NYSE under the symbol MA.

Litigation

Both MasterCard and Visa have paid approximately $3 billion in damages resulting from a class-action lawsuit filed by Hagens Berman in January, 1996.[2] The litigation cites several retail giants as plaintiffs, including Wal-Mart, Sears Roebuck & Company, and Safeway.[3]

Advertising

File:MasterCardLogo.png
The "old" MasterCard logo; remains in use (for the moment) as a consumer logo

MasterCard's current advertising campaign follows this pattern:

tangible item/service: price, tangible item/service: price, tangible item/service: price, intangible item/concept: priceless.

There are some things money can't buy. For everything else, there's MasterCard.

This series of ads started in 1996 and there are numerous different TV, radio and print ads.[4] It was created by McCann-Erickson. MasterCard actually registered Priceless as a trademark.[5] Actor Billy Crudup has been the voice of the ads in the USA since 1997. In other countries the voiceover artist changes to suit the local market; in the UK, for instance, actor Jack Davenport is the voice.

This campaign attempts to position MasterCard as the credit card company with a sense of humor. They are designed to respond to the public's worry that everything is being commodified, and that people are becoming too materialistic.[6]

During Super Bowl XXXIX on February 6, 2005, a MasterCard commercial was introduced featuring 10 legendary advertising characters from various foods and household products. The characters included Chef Boyardee, Charlie the Tuna, the Pillsbury Doughboy, Count Chocula, the Vlasic pickle stork, the Morton Salt girl, the Jolly Green Giant, Mr. Peanut from Planters, the Gorton's fisherman, and Mr. Clean.

Many parodies have been made using this same pattern, though MasterCard has threatened legal action,[7] contending that MasterCard views such parodies as a violation of its rights under the federal and state trademark and unfair competition laws, under the federal and state anti-dilution laws, and under the Copyright Act. Despite these claims, however, noted US consumer advocate Ralph Nader emerged victorious (after a four-year battle) in the suit MasterCard brought against him after he produced his own "Priceless" political commercials. [8]

Sports sponsorship

MasterCard currently sponsors the New Zealand All Blacks, the country's world famous rugby union team.[9]

It is currently the sponsor of the Memorial Cup Tournament of the Canadian Hockey League. MasterCard has just announced new sponsorship deal with Australian Cricket team.

In 1997, MasterCard was the main sponsor of the abortive MasterCard Lola Formula One team.

Management & Board of Directors

Key executives include:[10]


As of December 2004, the following banks are represented on MasterCard's board of directors:

  1. Europay España, S.A.
  2. HSBC
  3. Clarima Banca
  4. Capital One
  5. Banamex (Citigroup's Mexican division)
  6. Citigroup
  7. The Royal Bank Of Scotland
  8. MBNA America (now Bank of America)
  9. Westpac Banking Corporation
  10. Southern Bank Berhad
  11. Bank of Montreal
  12. Banque Fédérative du Crédit Mutuel
  13. Deutscher Sparkassen-und Giroverband
  14. Orient Corporation
  15. Bank AL Habib
  16. Banco Mercantil
  17. Banesco


In January, 2005, Washington Mutual Bank, the third largest issuer of debit cards in the United States, announced that it was changing its debit-card branding from VISA to MasterCard. The change will make Washington Mutual MasterCard's largest bank customer.

MasterMoney

MasterMoney is the branding of a MasterCard debit card distributed in North America. Like many debit cards, the brand has capabilities of being used as an ATM card as well as a credit card, providing sufficient funds are in one's bank account (usually a checking account) in order to complete a transaction.

PayPass

MasterCard PayPass is a new "contactless" payment feature based on the ISO 14443 standard that provides cardholders with a simpler way to pay by tapping a 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 markets. As of October 2006, the following financial institutions have issued the MasterCard PayPass:

  1. Bank of America
  2. JPMorgan Chase (available through its "blink" contactless feature)
  3. Citibank (both MasterCard credit and debit cards)
  4. HSBC Bank USA (debit card only)
  5. Key Bank (debit card only)
  6. Citizens Bank and Charter One Bank (both MasterCard credit and debit cards)
  7. Commonwealth Bank (Australia)
  8. Garanti Bank (Turkish, available through its Bonus Trink Card)
  9. Banco de Oro Universal Bank (Philippines, available through its BDO International ATM Card)

Banknet

MasterCard operates Banknet, a global telecommunications network linking all MasterCard card issuers and data processing centers into a single financial network. It is also referred to as "Global Payment System". The operations hub is located in St. Louis, Missouri. This network is equivalent to Visa's VisaNet network.

See also

References

  1. ^ MasterCard changing name, Jay Loomis, The Journal News, June 28, 2006
  2. ^ Visa/MasterCard Litigation, January 1st 1996
  3. ^ VISA CHECK/MASTERMONEY ANTITRUST LITIGATION WEBSITE
  4. ^ Pricess Film Festival
  5. ^ Priceless, Trademark Electronic Search System, Retreieved July 5th 2006
  6. ^ Priceless, Jim Farrell, New American Dream, Retreieved July 5th 2006
  7. ^ Threats of legal action: MasterCard International (April 9, 2001). "Re: MasterCard/Infringement by NETFUNNY.COM web site". {{cite web}}: Cite has empty unknown parameters: |month= and |coauthors= (help); Unknown parameter |accessmonthday= ignored (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  8. ^ George B. Daniels, District Judge (March 9, 2004). "Decision of the US District Court in the case of MasterCard International Incorporated v. Ralph Nader" (PDF). US District Court, Southern District of New York. {{cite web}}: Cite has empty unknown parameters: |month= and |coauthors= (help); Unknown parameter |accessmonthday= ignored (help); Unknown parameter |accessyear= ignored (|access-date= suggested) (help)
  9. ^ http://www.mastercard.com/nz/promotions/allblacks2006/
  10. ^ MasterCard Investor Relations, accessed 04 November 2006
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