Mastercard in the context of "Bank of America"

Play Trivia Questions online!

or

Skip to study material about Mastercard in the context of "Bank of America"

Ad spacer

⭐ Core Definition: Mastercard

Mastercard Inc. (stylized as MasterCard from 1979 to 2016 and as mastercard from 2016 to 2019) is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services (such as travel-related payments and bookings). 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, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.

Mastercard (originally Interbank, then Master Charge) was created by an alliance of several banks and regional bankcard associations in response to the BankAmericard issued by Bank of America, which later became Visa and is still its biggest competitor. Along with Visa, Mastercard has faced numerous antitrust lawsuits. Prior to its initial public offering, Mastercard Worldwide was a cooperative owned by the more than 25,000 financial institutions that issue its branded cards.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<
In this Dossier

Mastercard in the context of List of cities by international visitors

This is a list of the top 100 cities ranked by the number of international visitors, including all international arrivals by land, air, and sea, for tourist or business purposes. The consulting firm Euromonitor and the financial services corporation Mastercard define the concept of the foreign visitor differently, thus their respective rankings differ.

Euromonitor counts a visitor as any person visiting a city in another country for at least 24 hours, for a period not exceeding 12 months, and staying in paid or unpaid, collective or private accommodation. Each arrival is counted separately and includes people traveling more than once a year and people visiting several cities during one trip. The growth column compares international arrivals to the previous year.

↑ Return to Menu

Mastercard in the context of Electronic payments

An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.

Credit cards remain the most common form of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type. It is difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use. Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa and Mastercard) in accordance with a bank and financial regulation in the countries where the debit/credit service conducts business.

↑ Return to Menu

Mastercard in the context of Brit Awards

The BRIT Awards (often simply called the BRITs) are the British Phonographic Industry's annual popular music awards. The name was originally a shortened form of "British", "Britain", or "Britannia" (in the early days the awards were sponsored by Britannia Music Club), but subsequently became a backronym for British Record Industry Trusts Show. The awards were first held in 1977 and originated as an annual event in 1982 under the auspices of the British record industry's trade association, the BPI. In 1989, they were renamed The BRIT Awards. Mastercard has been the long-term sponsor of the event. In addition, an equivalent awards ceremony for classical music, called the Classic BRIT Awards, was held annually between 2000 and 2013, before being revived in 2018 but has not been held since.

The highest profile music awards ceremony in the UK, the BRIT Awards have featured some of the most notable events in British popular culture, such as the final public appearance of Freddie Mercury, the Jarvis Cocker protest against Michael Jackson, the height of a high-profile feud between Oasis and fellow Britpop band Blur, the Union Jack dress worn by Geri Halliwell of the Spice Girls, and a Chumbawamba member throwing a bucket of iced water over then-Deputy Prime Minister John Prescott. These moments took place in the 1990s when the ceremony had a reputation for being "a little shambolic, unpredictable and, at times, anarchic," since then it has "evolved into a more polished, sanitised affair".

↑ Return to Menu

Mastercard in the context of Debit Mastercard

Debit Mastercard is a brand of debit cards provided by Mastercard. They use the same systems as standard Mastercard credit cards but they do not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.

↑ Return to Menu

Mastercard in the context of Payment card

Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic transfer with a payment terminal and access automated teller machines (ATMs). Such cards are known by a variety of names, including bank cards, ATM cards, client cards, key cards or cash cards.

There are a number of types of payment cards, the most common being credit cards, debit cards, charge cards, and prepaid cards. Most commonly, a payment card is electronically linked to an account or accounts belonging to the cardholder. These accounts may be deposit accounts or loan or credit accounts, and the card is a means of authenticating the cardholder. However, stored-value cards store money on the card itself and are not necessarily linked to an account at a financial institution. The largest global card payment organizations are: UnionPay, Visa, Mastercard and American Express.

↑ Return to Menu