Company Profile
MasterCard Worldwide
Company Overview
MasterCard Worldwide is a driving force at the heart of commerce, enabling global transactions and bringing insight into the payments process to make commerce faster, more secure, and more valuable to everyone involved. As a critical link among financial institutions and millions of businesses, cardholders and merchants worldwide, MasterCard provides services in more than 210 countries and territories. MasterCard advances commerce worldwide by developing more secure, convenient and rewarding payment solutions, processing billions of payments seamlessly across the globe, and building economic connections that accelerate business.
Company History
1966: Founded as the Interbank Card Association (ICA).
1968: Begins formation of global network with banks outside the United States.
1969: ICA acquires exclusive rights to the “Master Charge” name and the trademarked interlocking circles.
1974: Magstripe becomes a standard feature on all "Master Charge" cards.
1979: Renamed "MasterCard" to reflect commitment to international growth, following the purchase of "Master Charge"
name and trademark by the California Bank Association.
1983: MasterCard introduces hologram security device – an industry first.
1985: MasterCard acquires an interest in Europay International's predecessor, EuroCard.
1987: MasterCard is the first-ever payment card issued in the People's Republic of China.
1988: MasterCard acquires the Cirrus® ATM network.
1990: MasterCard unveils a co-branding strategy and becomes the industry's co-branding leader.
1991: Europay and MasterCard launch Maestro®, the world’s first online point-of- sale debit network.
1997: Launch of Priceless®, award-winning advertising campaign, which first airs in October, and runs in 98 countries and in 46 languages. This campaign significantly raises brand awareness and usage – and enters "MasterCard" into the lexicon of everyday usage.
2001: Launch of MasterCard Advisors professional services, the largest global consultancy focused on the payments industry.
2002: MasterCard merges with Europay International to create MasterCard International – one worldwide company with one management team and converts to a private-share corporation in June 2002. MasterCard is in the best position to achieve its goals as an industry leader and to help the company’s customers achieve profitable growth. MasterCard launches and completes initial trial of its MasterCard PayPass contactless payment program in Orlando, Florida, with Chase, Citibank and MBNA.
2005: Additional financial institutions begin issuing MasterCard PayPass in 2005 and 2006. Card Technology magazine presents MasterCard with two "Breakthrough" Awards for its PayPass technology.
2006: MasterCard transitions to a new corporate governance and ownership structure. MasterCard Inc. begins trading on the New York Stock Exchange under ticker symbol MA. MasterCard introduces new corporate name, MasterCard Worldwide, and adopts a new corporate signature and tagline, The Heart of Commerce™, to reflect the company’s globally integrated structure and strategic vision of advancing commerce worldwide.
Notable Products / Brands
MasterCard, Maestro, Cirrus
Notable Accomplishments / Recognition
MasterCard Worldwide is organized into the following geographic regions: Americas, Asia Pacific, Middle East and Africa, and Europe. MasterCard cardholders can use their cards at more than 24 million acceptance locations around the world.
Benefits
MasterCard Worldwide's Benefit Programs serve three main objectives: they protect employees from risk (sickness, accidents, disability) that may result in substantial economic loss; they provide employees with retirement benefits that offer economic security after employment; and they help enable employees to successfully balance their work and family commitments.