About Mastercard Incorporated (MA)

Company Description:

Mastercard Incorporated is at the forefront of the global payments industry, facilitating the processing of payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers. It operates through a network that includes consumer credit, consumer debit, prepaid, commercial, and payment programs and solutions.

The company was established in 1966 as a cooperative of banks looking to access a wider payment network. It is headquartered in Purchase, New York, USA.

Main Product(s):

Mastercard's primary products include credit, debit, and prepaid cards that enable consumers to make purchases and transactions globally. They also offer a variety of services in fraud prevention, loyalty and rewards programs, and information services.

Short History of Mastercard Incorporated:

• 1966 – The foundation of the Interbank Card Association (ICA), which would later become Mastercard.
• 1979 – Introduction of the Mastercard brand.
• 2006 – The company went public with a successful IPO.
• 2010s – Mastercard expanded its services to digital wallets and mobile payments.
• 2016 – Celebrated 50 years of operation and continued expansion into financial services.
• 2023 – Maintains a significant presence in the digital payments innovation space.