MasterCard Incorporated (MA) today announced financial results for the second quarter of 2016. The company reported net income of $983 million, an increase of 7% or 8% on a currency-neutral basis, and earnings per diluted share of $0.89, up 10% or 11% on a currency-neutral basis versus the year-ago period.
Singapore's Land Transport Authority (LTA) is teaming up with MasterCard for a pilot that will see participants pay for their train and bus journeys by tapping their contactless credit and debit cards.
Having been the largest scheme worldwide for card numbers since 2010, UnionPay overtook Visa to also become the largest by value of card payments in 2015
MasterCard is considering an application to become a licenced payment services provider in China, according to Reuters.
MasterCard has agreed to pay about £700 million to buy 92.4% of VocaLink, the bank-owned operator of the UK's Faster Payments system and Zapp mobile service.
The pre-loadable Festipay Prepaid Card, which is accepted at all MasterCard acceptance points and is proper for online use, will have its debut at the Sziget Festival.
Absa has launched the Absa Masterpass App, a digital wallet powered by Mastercard, enabling South Africans to make safe and easy payments wherever Masterpass is accepted.
In an important industry milestone, Mastercard today unveiled the foundation for the future of commerce with the new Masterpass global digital payment service.
MasterCard is to pay £68.6 million to the UK supermarket chain Sainsbury's after losing a Competition Appeal Tribunal hearing over interchange fees.
Golf fans at The 145th Open at Royal Troon this week can go without cash, as MasterCard has enabled the whole Championship to accept contactless payments.
© Finextra Research 2016