Items tagged with mastercard
Mastercard is unabashedly planing to embrace cryptocurrency payments, a decision it made after observing people using cards to purchase crypto assets with increased frequency, especially on the heels of Bitcoin's recent surge in value, the company said. It is preparing for a future in which cryptocurrency transactions could become the norm, not the exception. In a blog post on the subject, Mastercard acknowledged this is a "big change that will require a lot of work." Part of that entails figuring out which specific cryptocurrencies to support. Bitcoin is a given, even though Mastercard did not confirm it would be one the currencies supported. But there will be others as well, such as perhaps...
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The era of cryptocurrency is not behind us, apparently. One look at Bitcoin's value—it sits at around $9,143 currently—indicates that there is room for at least one type of digital coin, even after the crypto-bubble burst last year in general. It is not just Bitcoin, though. Facebook is making a major move into the cryptocurrency space and has the backing of some major payment firms. Facebook's new and open-source digital currency is called Libra. It will be managed by Calibra, a newly formed Facebook subsidiary, with the goal of providing financial services all around the globe while leveraging blockchain technology. The first product that Calibra will introduce is a digital wallet...
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The next time you see someone taking a selfie, it may not be because they're getting ready to post their mug on Facebook or Instagram; they might be authorizing an online transaction. Say what now? Believe it or not, MasterCard is going to pilot a new program that will seek approval for online purchases by scanning images of a user's face.Once you've filled your virtual cart with whatever items you're buying and get to checkout, MasterCard will require you to hold your phone up and snap a photo of your face. MasterCard's thought process is that taking a selfie is easier than remembering a secure password. It also doesn't hurt that this generation is into taking selfies whenever possible, hence...
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While the concept of simply waving a credit card in front of a machine for quick and easy use is an appealing one, the issue of security tends to come up. After all, such methods bypass the need for a PIN, making it easier for someone to steal the card and simply use it. But MasterCard, in partnership with Swipe, have announced a new credit card that is the world’s first fingerprint authenticated contactless payment card. It is called the Zwipe Mastercard payment card and it features an integrated biometric sensor, combined with Zwipe’s biometric authentication technology, which also stores a person’s biometric data. To make a contactless purchase, the consumer needs to have...
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The unveiling of Apple's next iPhone is expected to take place next Tuesday, but despite that, the rumor train surrounding the device refuses to slow down. Late last week, we reported that the iPhone 6 could include an NFC chip under its hood, and as far as many Apple fans are concerned, that's long overdue. Now, we learn that Apple's possible payments system could involve something called "iPhone Wallet". In preparation for iPhone Wallet, it's being said that Apple has teamed up with American Express, MasterCard, and Visa, with some rumors also tossing PayPal into the mix. With iPhone Wallet, you'd be able to make a payment via the NFC chip and have the total cost automatically deduct off of...
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In an effort to make online shopping and authentication more secure and less reliant on passwords, an increasing number of companies are joining the FIDO Alliance, which among other things is pushing for the use of fingerprint scanning. MasterCard is the latest to join the FIDO Alliance, and perhaps one of the most important at this early stage, as it's the first major payment network to hop on board. FIDO is currently at work developing technical specifications for an open standard that includes biometric data such as fingerprint scanning, which would be used to replace passwords when shopping online or logging into a website. This kind of technology obviously requires a physical scanner. Apple's...
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A lot of the talk in the 7-inch tablet space revolves around the Nexus 7, Kindle Fire HD, and more recently, the iPad mini (7.85 inches). Lest anyone forget, Barnes & Noble competes in the handheld tablet space too, and it's hoping a special holiday offer in collaboration with MasterCard will nudge potential buyers over to the Nook. Effective Monday, December 3, and Tuesday, December 4 (today and tomorrow), customers who purchase a Nook HD or Nook HD+ online at B&N's website using a MasterCard will receive a free $20 store Gift Card, along with free shipping. That's not exactly a "Holy buckets!" kind of promotion (fans of The Voice will get that reference), but if you were considering...
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MasterCard is launching a new high tech card in Singapore that features an LCD display and a built-in keyboard. The card looks and functions just like a regular credit card but with the addition of the LCD screen and touch-sensitive buttons. MasterCard calls it Display Card technology. There are a number of banks and sites that require users to use a small security device to generate a one-time security key in order to log in to the site. While this provides for additional security, many users find security tokens such as these to be cumbersome since they have to carry an additional deivce in order to log in to their bank account. This new card could replace the small security devices by having...
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When it comes to mobile payments, it's really just a matter of "when." It's obvious that it's happening, and it's catching on (albeit slowly) around the globe. The specifics have to be worked out, and there's still a lot of work to be done in terms of partnerships, but we're slowly but surely moving towards a society that pays for everyday goods with their phone. MasterCard and ING, two huge names in the financial industry, have today announced a joint trial underway in the Netherlands that is demonstrating a new way to pay online using mobile phones. The trial extends the functionality of the Mobile MasterCard PayPass application, already used to support contactless payments at point of sale,...
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After what's being described as a "massive data breach" at Global Payments, Visa has decided to part ways with the payment processor and try its luck elsewhere, Global Payments CEO Paul Garcia said, according to a report in the Associated Press. MasterCard, meanwhile, is either willing to give Global Payments the benefit of the doubt that this was a one-time snafu, or hasn't yet announced plans of its own to the ditch the payment processor. Garcia described the situation as being "absolutely contained" at this point, however as many as 1.5 million credit cards across the United States may have been affected. Compromised data includes credit card numbers, but not identifying information such as...
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As you head into the weekend getting ready to party and celebrate the end of another long and grueling work week, take some time to keep tabs on your MasterCard and Visa accounts. If you don't, you could be in for a rude awakening when you go to pay for drinks and find out that your card has been declined. At issue here is a what's being described as a "massive" data breach at a U.S.-based credit card processor, according to KrebsOnSecurity.com.Visa and MasterCard have both been sending out non-public alerts giving banks a heads up that specific cards -- possibly more than 10 million -- may have been compromised recently. Image Source: Flickr (philcampbell) A spokesman for MasterCard told The...
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Mobile payments, hooray! They seem to be all the rage these days, and now Intel and MasterCard are announcing a "multi-year strategic collaboration to further enhance the security and consumer payment experience for online shopping." What's that translate to? We're told that this collaboration will combine MasterCard's expertise in payment processing and commerce with Intel's strengths in silicon innovation and chip-based security. It is designed to provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook devices and future generations of Intel-based PCs. Ultrabooks? Mobile payments? Huh! The new partnership will involve PayPass and Intel's...
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Well, not exactly. It keeps your information on its central, very secure servers. But by using a new software utility for shopping at websites that don't yet accept PayPal payments, PayPal allows you to submit a number for each transaction that is recognized as a valid MasterCard number. They call it PayPal Secure Card."From a merchant's perspective this looks like any other MasterCard transaction," said Chris George, director of financial products for PayPal. "And it's just another PayPal purchase to the customer."Secure Card has been tested by 3 million PayPal customers in the past year. The plug-in will be available to U.S. customers on Tuesday, with international customers to follow.When...
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People like to complain about PayPal and other online payment methods. People also like to complain about Bill Gates. But they will build a shrine to the guy if he manages to slash credit card fees by pioneering micropayments on the web. Because he's not gunning just to make PayPal obsolete; he's going for the big dogs, too: MasterCard and Visa. Speaking at the World Economic Forum in Davos, Switzerland, Bill Gates indicated that Microsoft was looking into finding a way to make so-called micropayments a reality online. And to make it a reality, Gates noted that traditional credit card fees would need to be undercut, and severely. See,...
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