Tag Archives: MasterCard

MasterCard: Latest News

  • South Africa Hosts Trials For Mastercard’s First Fingerprint Credit Card

    Mastercard's first fingerprint credit card By Dana Sanchez, 9:40 pm

    Mastercard hopes to roll out fingerprint payment cards globally by the end of 2017. South Africans’ willingness to try new technology and their familiarity with using biometrics for identification made the country an ideal market to test the payment cards. They’ll work with any card terminal around the world that accepts embedded chip technology. In the U.S., embedded chips are increasingly popular. Regulations make merchants and financial institutions liable for breaches resulting from a lack of support for chip-and-pin cards. Some merchants won’t have to get new equipment to accept fingerprint-enabled cards.

  • MasterCard Issues First Credit Card In Somalia In Over Two Decades

    By Staff, 7:46 am

    MasterCard Worldwide this week started issuing credit cards in Somalia in a bid to tap the $1.6 billion annual remittances business that has been disrupted by U.S. and U.K. banks suspending their services on fears of inadvertently being involved in money laundering or terrorist financing. MasterCard is linking up with Somalia’s Premier Bank and has already distributed its first credit cards to Somalis

  • Visa, Mastercard Jump On The Mobile Payments Bandwagon In Africa

    By Staff, 8:07 am

    Visa and MasterCard are jumping on the mobile payments bandwagon in Africa, a region where consumers are ahead of their counterparts in other parts of the world. Both financial powerhouses announced their expansion plans, which include partnerships with mobile money service providers, at Mobile World Congress this week in Barcelona.

  • MasterCard Inclusive Growth Index Names Accra Top African City

    By Makula Dunbar, 3:02 pm

    Accra, the capital of Ghana, is the African city with the highest potential for inclusive growth, according to the 2014 MasterCard African Cities Growth Index (ACGI). This is the second consecutive year that Accra has taken the top spot on the Index. Launched in 2013, the ACGI maps the continent’s economic outlook according to the inclusive urbanisation of its cities.

  • Study: South Africans Unsatisfied With Online Shopping Security

    By Makula Dunbar, 5:38 pm

    Largely because of fraud and minimal efforts — on the behalf of businesses — to secure sites, many South Africans are weary of online shopping. While online shopping has not declined significantly in South Africa, 90 percent of online consumers say they would spend more money if security was heightened. For 42 percent of online shoppers, their hesitance is attached to online transactions.

  • Mastercard Almost Has Africa Covered

    By Dana Sanchez, 12:17 pm

    Africa has huge strategic importance for MasterCard and the company plans to continue investing in infrastructure, people and know-how on the continent. MasterCard says it has more than 58,000 ATM locations and 438,000 point-of-sale terminals in Africa. It now has services in 48 African countries.

  • Cash To Cashless: Visa, MasterCard Scramble For Africa

    By Frank Mutulu, 11:33 am AFKI Original

    Visa and MasterCard have expanded their footprints in Africa to cushion themselves from dwindling or stagnating sales in their traditional markets.

  • New Entrants Eye East Africa’s Untapped Credit Card Business

    By Frank Mutulu, 11:16 am

    New entrants into East Africa will be game changers in the credit card business as they tap into the marginalized, self employed and informal sectors. Card company giants focused in the past on salaried individuals or those in formal employment, leaving a huge chunk of the population excluded.

  • Fawry: Egypt’s Bill Paying Solution for the 21st Century

    By Steven J. Smith, 9:39 am

    Fawry, a payment service available through Egyptian banks and a nationwide network of retailers, enables customers to pay their bills securely and conveniently through channels available 24/7 via one’s bank ATM — as well as Internet banking, mobile banking and Interactive Voice Response technology. Unlike its western counterparts, up until recently Egypt has maintained a cash-based transaction commerce system. According to research cited by Fawry founder and CEO Ashraf Sabry, only 1.5 percent of household consumption is paid electronically. Credit card use is minimal as well.

  • MasterCard To Equip 22,000 Rural S. African Merchants With POS Devices

    By Dana Sanchez, 10:13 am

    MasterCard plans to equip 22,000 rural South African merchants with point of sale devices, allowing them to accept card payments for the first time. Servicing millions of customers in rural areas and under-served settlements, these merchants have historically operated on a cash-only basis.

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