Closed-loop transit payment systems, where riders prepay for a proprietary paper or plastic card, typically loaded at a kiosk, are falling out of favor around the world. Replacing them are open-loop systems that use general purpose contactless payment cards and mobile wallets. Open-loop payments offer transit operators cost benefits and riders the convenience of interoperability […]
Mastercard has made a $300-million investment in the cross-border business unit of Corpay, a corporate payments company whose shares trade on the New York Stock Exchange. The companies are already partners for Mastercard branded purchasing, fleet and prepaid commercial cards issued in the US. Collectively, those cards generate more than $50 billion annually in purchase […]
CompoSecure’s Arculus Cold Storage Wallet was launched three years ago to provide consumers and businesses with self-custody and management of stablecoins and other digital currencies.
All financial regulatory approvals have been obtained, and Capital One is expected to finalize its merger with Discover Financial Services (DFS) on May 18, 2025. The companies announced their deal in February 2024. At that time, it was an all-stock transaction valued at $35.30 billion. Outstanding enforcement actions against Discover relating to fees charged merchants […]
Many community banks have not deployed contactless cards owing to their added costs. This has put them at a disadvantage versus larger competitors. Providing Mastercard contactless cards is expected to help them be more competitive as well as to provide the opportunity to reactivate dormant accounts.
The three largest issuers—JPMorgan Chase, Wells Fargo and Bank of America—accounted for 48.27% of the $2.952 trillion in debit and prepaid purchase volume generated by the top 50 issuers in 2024.
For the complete ranking, please download Issue 1283.
Software that enables card-present transactions for online merchants by using a buyer’s phone to enter a PIN is available from start-up Burbank.
Unlike tokens, dCVVs have the added benefit of being a security element that is visible, which provides cardholders with some peace of mind.
Mastercard, Visa and domestic-only credit and debit cards in Europe can be added to issuer-branded wallets on iPhones using HCE (host card emulation) technology from Entrust.
