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MasterCard Inc. said Tuesday its third-quarter profit was bolstered by continued cost-cutting measures and an increase in the number of transactions it processed.
Retailers and the credit card industry are engaged in an increasingly nasty — and public — fight over the fees retailers are charged every time a customer pays with plastic.
A Citi Investment Research analyst upgraded MasterCard Inc. Wednesday, writing in a note to investors that a negative adjustment in consumer spending is largely over.
MasterCard Inc. said Thursday that it booked a profit of nearly $350 million during the second quarter, exceeding Wall Street's expectations, as cost trimming and an increase in transactions helped offset a decline in the amount consumers spent.
MasterCard says its new president and chief operating officer will be Ajay Banga, the former CEO of Citigroup's Asia Pacific division, beginning Aug. 31.
Credit card and global payments processor MasterCard Inc. said Friday its first-quarter profit fell 18 percent from the year-ago period that included a special gain on the sale of an investment. Its earnings still topped analysts' expectations.
European Union regulators said Wednesday they would drop a threat to fine MasterCard after the company promised to temporarily cut fees it charges for cross-border card purchases which can hike costs for shops.
We've been ripped off royally by an Internet travel agency and need your help. My husband and I took a trip to Grand Cayman a few months ago for our fifth anniversary.
The president and chief executive of electronic-payments processor Mastercard Inc. received compensation worth nearly $9.4 million dollars in 2008, down 15 percent from the prior year, according to Associated Press calculations of data filed with regulators Monday.
MasterCard Inc. reported a fourth-quarter profit Thursday that easily beat analysts expectations as it pared expenses and customers continued to move toward paying bills with debit and credit cards, instead of cash.
MasterCard Inc. said Monday that a hefty legal charge led to a third-quarter loss but the credit card processor's adjusted results beat Wall Street's expectations as dollar volume and the number of transactions both rose.
American Express said Wednesday MasterCard will pay it as much as $1.8 billion to settle an antitrust lawsuit, as it warned credit losses may increase as business conditions deteriorate.
MasterCard's profit more than doubled in the first quarter as more customers outside the United States used their credit and debit cards for purchases.
Asset manager Ameriprise Financial Services Inc. is pairing up with MasterCard Inc. to become a credit card lender for the first time, the two companies planned to announce Monday.
MasterCard's U.S. cardholders charged more in the last quarter of 2007 than they did in the previous year, but are spending less on discretionary items and more on necessities.
December was all about buying the presents. This month, the credit card bills arrive. That ghost of Christmas past has people scrambling for ways to deal with the debt they ran up. One way to reduce your monthly payments is with a lower interest rate. Right now, the mail is full of eye-catching offers from credit card companies.
Mastercard must drop fees it charges for cross-border transactions or face daily fines of 3.5 percent of daily global turnover, European Union regulators said Tuesday.
MasterCard Inc.'s third-quarter profit blew past Wall Street's expectations, jumping 63 percent in a powerful reminder that many people around the world are still making money and finding ways to spend it.
MasterCard Inc., the world's No. 2 credit card processor, said Wednesday that increased cardholder spending, particularly overseas, boosted its profit by 63 percent in the third quarter.
Credit card processor MasterCard Inc. said Wednesday that increased cardholder spending, particularly overseas, boosted its profit by 63 percent in the third quarter.
Credit-card rates up before new lawHave you checked the interest rates on your credit cards lately? Odds are they're going way up.
Bada Bing: Here's A Credit Card With An 79% Interest RateNBC San Diego found a local wine distributor who was issued a credit card with a 79.9 percent APR. The Premier card from South Dakota's First Premier Bank is responsible for the usurous, loan shark-style rate. The station's Bob Hansen writes:
Fed Proposes Tougher Credit Card RulesCredit, I predict, will be a thing of the past. Credit is a want, not a need. It should be temporary and not forever.
Senate Rejects Interest-Rate Cap on Credit CardsSenate on Wednesday turned back an effort to cap interest rates at 15 percent.
Credit card companies piling on fees, raising rates ahead of new federal rulesIt appears that credit card issuers are insisting upon exercising their right to abuse their customers in the name of higher profits.
Credit Card Cardholders Bill of Rights Now On to SenateMoving it on quickly through the legislative process, if approval is gained in the Senate, some changes won't be in effect for one year. You also might want to check out the CEO salaries for 2008. Notice top dollar has gone to the fat cats in this sector.
19,000 UK credit card details posted on the Net ... and accessible on Google | Mail OnlineCredit card companies do little or nothing to protect cardholders information
Deutsche Bank Maintains a 'Sell' Rating on American Express (AXP)I second that sell rating.
American Express acquires EMVCo stakeFunny how they're all suing each other, yet buying into technology all nicey-nicey.
Cyber Thieves Hit Payment Processor Heartland - UPDATED: A second major payment firm suffers a data breach -- and experts warn that more attacks may be to come.Excerpt: For the second time in a month, a payment processor has reported being hit by data thieves.
Huge security breach for German credit cardsDetailed and sensitive bank information of tens of thousands of German credit card customers have been stolen in what investigators have described as the worst ever case of data theft in the country.
Visa and Mastercard Gift Cards Top American ExpressTis the season to shop for loved ones and for business clients alike. But with this economy, no one wants to be on the giving or receiving end of a frivolous gift.
As I watch the news each day, with everything happening in the markets, I can't help but glean a certain amount of happiness with each bank that falls. I am praying with every fiber of my being that without the backing of the banks, credit card companies will be next.
That little rectangle of friendly plastic, you know the one, that little plastic card with "Visa" or "Mastercard" printed on it. Is it really your "flexible friend", or your worst enemy?
10 Things You Might Not Know About Your Credit CardAs you might imagine, we get a lot of questions about using credit cards. Based on those piles of emails we've put together a list of 10 things a lot of people don't know about credit cards. Enjoy!
MasterCard Pays $1.8 Billion to American Express - NYTimes.comMasterCard Worldwide agreed on Wednesday to pay $1.8 billion to its credit card rival, American Express, to settle claims related to a 2004 antitrust lawsuit.
World Commerce City Index 2008Complete list of rankings of the world's top 75 global commercial city hubs.
The world's top 75 cities ranked as Hubs in the New World Wide Economy Index 2008. The Index ranks the cities instrumental role in driving the global economy. Bangkok is ranked # 42.
Conservative Instapundit blog calls for greater credit card transparencyBit of a surprise coming from a self-described libertarian: "These industries operate as what Scott Adams calls "confusopolies," taking advantage of complexity to bilk customers. I'd prefer transparency to outright regulation, but that's probably hard to accomplish."
Politico: Retailers shopping for lower interchange fees When Food City first started accepting credit cards 20 years ago, executives at the regional supermarket saw plastic — even with the 1 percent fee charged by the credit card companies — as an almost certain business win. ...
College cracks down on deceptive credit card tacticsIn a statement, representatives with UCSD told FOX6 News: "We at UC San Diego encourage our students to be cautious and prudent when it comes to these kinds of financial matters." We contacted all the major credit card companies on the issue but they did not respond.
Congress Takes On Credit Card Interchange FeesThe "Credit Card Fair Fee Act of 2008," introduced by House Judiciary Committee chairman John Conyers (D-MI), would require lenders possessing "substantial market power" to negotiate with merchants and retailers on terms for fees paid when processing card transactions.
Late Payments On Credit Cards Highest In Three YearsConsumers have racked up more than $2.2 trillion in purchases and cash advances on major credit cards in just the last year. And it's become a habit for them to spend more than they have.
Visa sets possible record $18.8 billion IPOVisa Inc, the world's largest credit-card network, on Monday said it may raise up to $18.8 billion in its eagerly awaited public sale of shares, which could make it the largest initial public offering ever.
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