Mastercard Inc. is an American multinational financial services company with headquarters in New York. Mastercard was founded on December 16, 1966, by Wells Fargo, Crocker National Bank, First Interstate Bancorp, and Bank of California. The corporation went public on May 25, 2006, at it trades on the New York Stock Exchange (NYSE) under the ticker ‘MA‘.
The company facilitates payment services for credit and debit cards, electronic cash, automated teller machines, and travelers’ checks. Its payment solutions and services are under the Mastercard, Maestro, and Cirrus brands.
Mastercard’s other products include integrated products and services for account holders, merchants, financial institutions, businesses, governments, and other organizations. Furthermore, the firm also offers value-added products and services, including cyber and intelligence products, information and analytics services, consulting services, loyalty and reward programs, processing services, and issuer and acquirer processing services.
Mastercard main competitors
- Visa
- PayPal
- American Express
- Discover
- Capital One
Key Mastercard Milestones
In September 2014, Mastercard teamed with Apple to incorporate a new mobile wallet feature into Apple’s new iPhone brands. The feature enables users to use their Mastercard and other credit cards more easily.
In 2017 Mastercard reinforced its goal of extending financial services to those outside the current system by bringing digital payment systems to the unbanked around the world. The company invested $500M in India as part of the initiative.
In 2011, Mastercard partnered with Google to launch Google Wallet. The Android application allows a mobile device to send credit/debit card information directly to a Paypass-enabled payment terminal. The app bypassed the need for a physical card up until the creation of Android Pay.
Mastercard Frequently Asked Questions
Does Mastercard pay dividends?
Mastercard pays dividends quarterly.
How many times has a Mastercard stock split?
Mastercard has split its stock once in its history. The split occurred on January 22, 2014.
