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Target will fund $19 million so MasterCard can settle complaints related to the 2013 data breach at the retailer.
Ahead of Friday's cybersecurity summit, Visa and MasterCard announced plans to ramp up security efforts for online and mobile transactions.
While Apple hasn't officially given Apple Pay the nod for anywhere outside the US, the signs are good that Europe, and the UK in particular, could be next on the list.
13 million person pilot of national identity card combines both biometric verification for state services and a prepayment wallet aimed at bringing financial services to the poorest.
Coles has launched its own mobile wallet, integrating an NFC contactless payment sticker, smartphone app for iPhone and Android, its existing Coles MasterCard credit card program, and its Flybuys loyalty card program.
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The financial services giant says the sale of big data is a fast growing revenue area, with growth outpacing its payments processing segment.
Westpac NZ charts its own payments path, adopting MasterCard's MasterPass digital wallet ahead of its Australian parent.
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Together with MasterCard, Commonwealth Bank is easing the administration burden associated with payments of Australian schools with its mobile payment technology, QkR.
The talks, as well as actual movement on enhancing the payment system in the U.S., was sparked by the data breach at Target that affected 110 million accounts.
Using MasterPass should be emulate a one-click (or one-touch) payments process across the entire device without having to leave an app at all.
Users can use the card at stores accepting Mastercard, or withdraw cash from ATMs. For now, it's available only in the U.S. and is free with no monthly or annual charges.
Six individuals have been arrested and charged in connection to a worldwide scheme that stole debit card data and $45 million from banks.
Based on several new big data and e-commerce products that have debuted in the last six months, using open standards has become a critical requirement.
Payment provider partners local mobile operator Chunghwa Telecom and four banks to offer NFC-based virtual credit cards to consumers in the market, but service will only start end 2013.
Bank Negara Indonesia wants five million online transactions in the first year of introducing its e-commerce services, and it is supported by online Web sites and MasterCard.
The payments technology vendor and handset manufacturer have teamed up to help financial institutions make in-store payments through smartphones commonplace.
MasterCard revamped its PayPass digital wallet with MasterPass. It's unclear whether consumers will adopt this digital wallet.
The best financial service of all, it turns out, is actionable analytics.
The financial services giant invest in, and partners with, the analytics stalwart to develop and sell big data products for joint clients.
Old habits die hard: Australians will not stop buying goods on foreign websites even if the government lowered the GST-free threshold on items purchased overseas, according to a study by MasterCard.