MasterCard has ankled Craig Vosburg to president, North America Markets, effective January 1st. This appointment comes as Chris McWilton announced he will leave MasterCard on December 31.
While many analysts indicate President Obama’s Executive Order to mandate chip payment cards for government benefits was a pure political move, others applaud the action.
The Sam’s Club 5-3-1 cash back program on its new co-branded MasterCard, issued by GE Capital Retail Bank, is available to qualifying Sam’s Savings, Sam’s Business and Sam’s Plus members in the U.S. and Puerto Rico. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity. Sam’s Plus members have access to earn up to $500 annually through Cash Rewards on top of earning up to $5,000 annually when they use the co-branded Sam’s Club MasterCard.
Sam’s Club today announced a credit card cash back program that gives members the opportunity to earn 5 percent cash back on fuel, 3 percent cash back on dining and travel, and 1 percent cash back on all other purchases, up to $5,000 annually. The new Sam’s Club MasterCard comes with enhanced credit card safety, a top concern for today’s shoppers. Sam’s Club is the first mass retailer to actively implement chip-enabled technology. Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.
MasterCard today announced enhancements to its industry leading security efforts, providing U.S. cardholders with greater protection from fraud and identity theft. All MasterCard credit, debit, prepaid and small business cards issued in the U.S. will now carry Identity Theft Resolution assistance. The program provides help in canceling missing cards and alerting credit reporting agencies, as well as targeting searches to detect if stolen personal and confidential data appears online.
Today Target Corp. announced the company has hired a new technology leader to help guide the company’s information technology transformation. Target also provided details on additional security enhancements the company has made following its 2013 data breach, and shared plans to incorporate MasterCard chip-and-PIN technology across its REDcard portfolio.
First Data and MasterCard announced an agreement in which First Data’s STAR® Network will participate in MasterCard’s common U.S. Debit EMV solution. This agreement provides a cost-effective solution and accelerates the ability for EMV functionality to be implemented across the U.S. EMV/ chip cards better protect account information from fraud because they have dynamic data, rather than the static data stored in the magnetic stripe. By working together, MasterCard and First Data will deliver enhanced choices in how debit card issuers identify and apply multiple network relationships to ensure Regulation II compliance in a cost-effective way. Merchants and acquirers will continue to route transactions as they prefer, without costly host systems reprograming.
Fiserv and MasterCard agreed to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network. MasterCard issuers receive flexibility to select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades. MasterCard was the first network to offer its proprietary technology to other U.S. debit networks in an effort to support the migration to EMV and enable the routing of PIN debit transactions over multiple, unaffiliated networks. This decision allows acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks that elect to participate. The MasterCard U.S. common debit EMV solution is consistent with the EMV Migration Forum’s recommendations, including a single common debit application identifier (AID) and single application on each card, as well as multiple ways to verify the cardholder’s identity.
MasterCard and KeyBank announced MasterCard will be the exclusive payment network for a new suite of KeyBank credit card products. KeyBank will launch the MasterCard branded suite of cards this year to further strengthen the strategic relationship between KeyBank and MasterCard that previously included long-standing agreements in debit and ATM. The renewed credit card focus includes the purchase of a $725 million credit card portfolio earlier this year, and the bank’s expanded relationship with MasterCard bolsters its Relationship Rewards program. The “Relationship Rewards” program allows clients to earn points for everyday banking activities, including debit and credit card purchases.
MasterCard is making some of the company’s proprietary technology solutions available to other U.S. debit networks to provide an option to support debit EMV transactions and reinforce the company’s continued support of the U.S. migration to the EMV standard. MasterCard will allow acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks within the United States. This is part of the MasterCard initiative to advance the future of electronic payments in the U.S.
Initiated in 1995, MasterCard and the PGA TOUR extended their marketing relationship through 2016 to focus on further providing MasterCard cardholders unique golf experiences, privileged access to top PGA TOUR tournaments and properties, as well as golf-related savings and offers. With this, MasterCard will expand TOUR-related cardholder benefits at key PGA TOUR tournaments and courses, as well as introduce new programs at select tournaments. MasterCard cardholders will have the opportunity to “text to win” for upgraded hospitality on competition day at the vast majority of PGA TOUR events. A selection of top tournaments will also offer cardholders special grounds ticket purchase opportunities, as well as on-site savings at concession and merchandise venues and provided a unique opportunity to “text to win” a one-time, 20-minute putting lesson with a PGA TOUR player at several different tournaments throughout the season.
MasterCard will continue as presenting sponsor of the Arnold Palmer Invitational Presented by MasterCard for four additional years. Proceeds from the tournament continue to benefit Arnold Palmer Hospital for Children and Winnie Palmer Hospital for Women & Babies. The relationship between MasterCard, a sponsor of the PGA TOUR and Champions Tour since 1995, and the Arnold Palmer Invitational Presented by MasterCard began in 2004. For the 2012 Arnold Palmer Invitational Presented by MasterCard, MasterCard has issued a challenge to its professional golf ambassadors. Should any of the ambassadors entered in this week’s event win the Arnold Palmer Invitational Presented by MasterCard, MasterCard will make an additional $200,000 donation to Arnold Palmer Hospital for Children and Winnie Palmer Hospital for Women & Babies in their name.