MasterCard completes Europay merger
01 July 2002 | 6237 views | 0
MasterCard International has completed its conversion into a private share corporation and its merger with Europay International.
Robert Selander, MasterCard’s president and CEO, says: "By integrating with Europay, we’re enhancing our ability to deliver high-quality, reliable payment solutions to our members globally, while maintaining regional flexibility that is responsive to local market requirements and conditions."
Europay is being integrated into the global organisation as MasterCard’s European outpost. Peter Hoch, Europay’s chief executive, becomes president of MasterCard’s Europe Region, reporting to Selander.
As part of the newly integrated company, MasterCard is launching three global Centres of Excellence in Belgium and the United States. The European Centres will house expertise in 'pay now' technology and chip and mobile commerce.
An e-commerce and eB2B Centre of Excellence in New York will support all aspects of e-commerce product development for businesses and consumers. This includes Internet channel security and cardholder authentication protocols, electronic procurement systems, and other emerging technologies.