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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: MasterCard

MasterCard stories: 16 news summaries


 Debit Cards Overtake Credit 

A surge in debit-card usage reflects a shift from the days of easy credit

Apr 30, 09 8:35 AM CDT
(Newser) - The recession has boosted the popularity of debit cards, the Wall Street Journal reports. In the last quarter of 2008, debit-card transactions processed by Visa were 50.4% of the company’s volume, surpassing credit cards for the first time. Rival MasterCard’s debit volume surged 13% last year as... More »

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recession • debit card • credit card • Visa • MasterCard • financial crisis

Visa, Mastercard Warn
of New Data Breach

Alerts issued after malware infects another payment processor

Feb 24, 09 5:36 AM CST
(Newser) - Mastercard and Visa have alerted financial institutions about another serious data breach at a payment processor, Wired reports. The breach, like the massive fraud unveiled at Heartland Payment Systems last month, is believed to have occurred through malicious software. The credit card issuers are refusing to name the processor involved... More »

MORE ABOUT:
hacker • credit card • data theft • cybercrime • Visa • malware • MasterCard

MARKETS

 Dow Up 106; Hope for a Bottom 

MasterCard's success boosts financials

Feb 5, 09 3:18 PM CST
(Newser) - Stocks rebounded after initially falling lower today, as investors snapped up bargains from depressed equities, MarketWatch reports. MasterCard led advances with a 14% gain after beating profit estimates. Wal-Mart was another strong performer, rising 4.33% on strong January sales. The Dow closed up 106.41 at 8,063.07.... More »

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Dow Jones • American Express • Nasdaq • MasterCard • S&P 500 • Wal-Mart • January sales

MARKETS

 Stocks Up 305 in Election Rally 

Indices up 3%-4% after remaining in positive territory for entire session

Nov 4, 08 3:19 PM CST
(Newser) - Stocks rallied on Election Day as investors applauded the looming conclusion to the presidential race, the Wall Street Journal reports. Continuing declines in interbank lending, and strong third-quarter earnings reports also fueled optimism, with the Dow rising 305.45 to close at 9,625.28. The Nasdaq climbed 53.79... More »

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Dow Jones • Nasdaq • Election Day • MasterCard • S&P 500 • Election 2008 • Libor • financial crisis • Archer Daniels Midland

Diamond-Inlaid Mastercard? 'I Like!'

Company readies
lavish gold card for
rich Kazakhstanis

Nov 1, 08 7:50 PM CDT
(Newser) - MasterCard hopes that a worldwide recession won't stop shoppers from toting around a gold-encrusted, diamond-inlaid credit card, the Financial Times reports. Later this month, the company will issue VIP customers in Kazakhstan the "Diamond" card—which comes with a personal manager, is trimmed with gold, has a 0.... More »

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ultra rich • Dubai • diamond • Kazakhstan • credit card • gold • MasterCard

Lenders Yank Credit Cards
as Economy Sours

Plastic crisis comes hot on the heels of mortgage crisis

Oct 29, 08 4:33 AM CDT
(Newser) - The flattening economy is putting the squeeze on credit card lending just when consumers can least afford it, the New York Times reports. Lenders are putting the brakes on new credit card offers and reining in lines of spending for existing holders, even those with good credit records. The flood... More »

MORE ABOUT:
American Express • credit card • Visa • MasterCard • lending practices • consumer credit • financial crisis

 MasterCard to 
 Pay Amex $1.8B  

Antitrust settlement will help Amex defray losses as economy continues to drag

Jun 25, 08 8:51 AM CDT
(Newser) - MasterCard will pay American Express $1.8 billion in 12 quarterly installments, settling a lawsuit that claimed it had blocked banks from offering American Express cards to customers, the Wall Street Journal reports. American Express said the antitrust settlement would "help to lessen the impact of this weakening economic... More »

MORE ABOUT:
American Express • settlement • Visa • MasterCard • antitrust suit

MARKETS

 Stocks Rise on Healthy Data 

GDP, financial rallies treat investors well, for now

May 29, 08 3:33 PM CDT
(Newser) - The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to... More »

MORE ABOUT:
Bank of America • Dow Jones • Wells Fargo • Nasdaq • Visa • MasterCard • S&P 500

Supermarket Breach Exposes 4M Credit Cards

Hannaford grocery stores report 1,800 related fraud cases

Mar 18, 08 9:20 AM CDT
(Newser) - A data security breach at Hannaford, an East Coast supermarket chain, has exposed the credit card information of 4.2 million customers and resulted in 1,800 cases of fraud so far, the Boston Globe reports. The breach, which went undetected for three months, is one of the largest ever,... More »

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fraud • identity theft • supermarket • credit card • data theft • computer security • Visa • MasterCard • Hannaford

Visa Plans
$17B IPO in Risky Market

Public offering would
be the biggest in
Wall Street history

Feb 25, 08 8:55 AM CST
(Newser) - Visa is hoping to surpass rival MasterCard’s 2006 stock market debut with a $17 billion IPO that would be the largest in Wall Street history. The company today said it hopes to sell some 406 million shares for $37 to $42 each, reports the Wall Street Journal. The... More »

MORE ABOUT:
New York Stock Exchange • IPO • SEC • shares • Visa • MasterCard • AT&T Wireless

MARKETS

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

Jan 11, 08 3:25 PM CST
(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close... More »

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McDonald's • consumer • Dow Jones • American Express • Nasdaq • Capital One • Tiffany • MasterCard • Discover • S&P 500

PayPal Swiping
Credit Card Market

Fraud-wary consumers turn to alternative payment methods

Nov 21, 07 1:05 PM CST
(Newser) - With identity theft jumping 50% since 2003, more people are turning from credit cards to Internet-based payment services like PayPal and Google Checkout for online purchases and, increasingly, everyday transactions, Business Week reports. Roughly 30% of US online shoppers used an alternative payment service last year. "Consumers are afraid... More »

MORE ABOUT:
credit card • business tech • PayPal • MasterCard • online payments

Now PayPal Is Everywhere MasterCard Is

New service aims to protect financial info, simplify shopping

Nov 20, 07 10:16 AM CST
(Newser) - PayPal is offering a new way for customers to pay on sites that don't normally accept the service. PayPal Secure Card creates a new MasterCard number for every transaction and retrieves members' payment information from their PayPal accounts. "From a merchant's perspective this looks like any other MasterCard transaction,... More »

MORE ABOUT:
Internet • online fraud • shopping • eBay • online retailers • Internet security • phishing • PayPal • MasterCard

Visa Heads for Biggest IPO in US in Years

Offering expected
early next year could surpass $10B

Nov 10, 07 12:18 PM CST
(Newser) - Visa is moving ahead on a massive initial public stock offering expected early next year. Papers filed yesterday show that shares could be valued at $10 billion, which would make it the second-largest public offering in US history, the Wall Street Journal reports. The biggest is the $10.62 billion... More »

MORE ABOUT:
stock market • San Francisco • IPO • shares • credit card • Visa • MasterCard

Visa Settles $2.25B AmEx Suit

Antitrust settlement could be largest ever

Nov 8, 07 8:28 AM CST
(Newser) - In what could be the largest settlement ever to resolve an antitrust lawsuit, Visa has agreed to pay American Express up to $2.25 billion for blocking member banks from offering rival credit cards, the AP reports. The deal helps clear the way for Visa’s IPO, expected early in... More »

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lawsuit • American Express • civil lawsuits • Visa • MasterCard

TJX Data Breach Exposed 94M Credit Cards

Still no arrests after up to $83M is spent with stolen numbers

Oct 24, 07 7:15 PM CDT
(Newser) - Cyber thieves have pinched 94 million credit cards from a discount retailer—double the last estimate—and spent up to $83 million as far as Hong Kong and Sweden, the AP reports. Banks are now suing the retailer, TJX Cos., to recover their losses. But those losses keep growing: "... More »

MORE ABOUT:
Hong Kong • Sweden • credit card • TJX • hackers • Visa • MasterCard

16 Stories


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