GCC set for fintech surge, reveals Mastercard study
The GCC is set for a surge in the use of fintech apps during the current global health crisis as new figures from Mastercard reveal a 70 percent increase in the use of contactless payments in the MEA region.Consumers are increasingly turning away from physical offerings during the ongoing COVID-19 outbreak, with startups and financial institutions continuing to offer services through digital channels.According to research by Mastercard, 70 percent of respondents in the Middle East and Africa are now using contactless payments, with 81 percent confirming they will continue to do so once the pan...
Campaigns held by Mastercard increase contactless payments in Azerbaijan
By TrendSince the launch of the lottery campaign by Mastercard in Azerbaijan, card transactions have increased by 40 percent, and contactless payments – by 70 percent, a source in the company told Trend.The source noted that people began to avoid cash and use safer and more reliable payment methods with the apparent presence of the advantages of cashless payments.These growth rates will increase as the first luxury car draw nears the end of June, the company said.The lottery campaign itself also aims at encouraging cashiers who is responsible for informing customers, stimulating an increase in...
Mastercard advocates contactless payment limits to ensure seamless transactions across Asia Pacific | Daily FT
(Singapore): Mastercard’s unwavering commitment to making transactions more convenient, safe and seamless through tap-and-go card payments has taken on new urgency and importance as the spread of COVID-19 highlights the imperative for ‘contact-free’ environments and experiences as much as possible.As nations implement stricter containment measures to keep their citizens protected, Mastercard has taken a leadership role by actively consulting with governments and industry partners across the Asia Pacific region to ensure consumers have sufficiently high limits for contactless payments.Having th...
Daily Financial Times
Mastercard says digital payment has changed the way Egyptians spend: Interview
In an interview with Al-Masry Al-Youm, Mastercard’s General Manager for Egypt and Pakistan Magdy Hassan said that the increase of the digital economy upgrades the country’s ranking in terms of transparency and ease of business index, according to World Bank standards.Hassan said that these recent market updates will change Egyptians behavior to use safer and more convenient payment methods by limiting the number of cash transactions, ultimately reducing the risk of getting infected via the circulation of money.Interview –Q: How would you evaluate recent fintech (financial technology) developme...
Eurozone banks moot European payment system to rival Visa, Mastercard
Paris (AFP) - Twenty European banks are working on setting up a pan-European payment system to challenge the dominance of Visa, Mastercard and technology companies such as Google and PayPal, European banking and government sources said Tuesday.The banks have been working on the project jokingly code-named PEPSI (Pan European Payment System Initiative) for a few months, four sources involved in the project told AFP.Carlo Bovero, global cards and retail payments manager at France's BNP Paribas, alluded to the move Tuesday during a conference organised by banking magazine Revue Banque in Paris.Bo...
中国国際航空、「Air China Orico Card」を発行 9月29日から募集開始
中国国際航空とオリエントコーポレーションは、「Air China Orico Card」を発行する。...
Libra partners reconsider as governments grumble: report
Mastercard, Visa and other financial partners being enlisted to oversee Facebook-backed cryptocurrency Libra are having second thoughts as regulators unleash ire on the project, according to a report Tuesday.A Libra Association created by Facebook to independently manage the digital money still had its initial group of backers on Tuesday.But a Wall Street Journal report said some of those on it were reconsidering their roles due to opposition expressed by governments digging for information about the project.Visa referred AFP to comments made by chief executive Alfred Kelly in an interview in ...