Mastercard
MasterCard Incorporated is an American multinational financial services corporation headquartered in the MasterCard International Global Headquarters, Purchase, New York, United States, in Westchester County. Throughout the world, its principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the “MasterCard” brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006.
MasterCard, originally known as Interbank/Master Charge, was created by several California banks as a competitor to the BankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc. In 2010, MasterCard expanded its e-commerce offering with the acquisition of DataCash, a UK-based payment processing and fraud/risk management provider.
In 2012, MasterCard announced the expansion of its mobile contactless payments program, including markets across the Middle East. In 2014 MasterCard teamed with Apple, to incorporate a new mobile wallet feature into Apple’s new iPhone models, enabling users to more readily use their MasterCard, and other credit cards.
In the new patent, Mastercard proposes a Fractional Reserve used for simultaneous storage of fiat and crypto.
In this guest post, Professor Gracie Anderson shares her insights into the nature of blockchain, explaining why such large-scale entities as Mastercard choose to adopt the tech.
Ajay Banga, the leader of the multinational financial services corporation, made a number of critical statements on the cryptocurrency. But the logical reasoning backed with striking examples provokes thoughts on the main concepts of the crypto sphere.
Mastercard has filed a patent application for a method of connecting blockchain-based assets to fiat currency accounts which will help to speed up crypto payments.
The solarisBank is working on a hybrid model of the future that implies the coexistence of banking and blockchain firms to play a crucial role in the global economy.
Cryptocurrency exchange platform Cryptology enables both fiat and crypto transactions, making digital currency operations easier and more affordable.
Now Venmo users will have more opportunities to use their Venmo balances, as PayPal will offer them debit cards for payments in the real world.
While digital industry is flooded by zillions of new startups aiming to solve more or less real-world problems with blockchain tech, there are three projects definitely worth checking out.
Graft is a rare ICO project with its own blockchain. The Graft ICO will run between January 18 and February 18, with hard cap of $25 million.
The credit card giant has opened access to its Blockchain APIs to consumers, businesses and banks via Mastercard Developers program.
