Mar 08
While Target recovers from their shocking $40 million credit and debit card record theft from last year, Visa and MasterCard have joined forces to push for a new chip-enabled card … Continue reading
Feb 27
Have you ever experienced the situation when you are overseas and you’re trying to buy something with your credit card, only to have the sale rejected, or worse, have your credit card blocked entirely because your bank thinks that your card is being used without your knowledge?
To be fair, banks do that as a safety measure. After all no one likes dealing with an irate customer demanding to know why their credit card which might be based in the US, is suddenly spending thousands of dollars all the way in another country halfway around the world. This is also why sometimes banks ask if you’re traveling, which countries you’re traveling to, and what are your travel dates, so that they know that your card usage in that period is more or less legitimate.
However it seems that MasterCard wants to take things to the next level and save you a phone call simply by getting customers to opt into a program in which your location and your credit card are tied together via your smartphone. (more…)
MasterCard To Use Smartphone Location To Prevent Credit Card Fraud original content from Ubergizmo. 
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Oct 22
MasterCard has come up with a way to add more to the digital reading experience. You know how you flip through a magazine on your tablet and see something that you really like? Normally you’d take down the name of the product and then search online for buying options.
What MasterCard is introducing changes all that and reduces the process to a single step. The app is called ShopThis!, and it’ll let you buy the item that you want by tapping on the article or in the ads.
The item will be added to your cart, and you can then continue to flip through the contents of the magazine before finalizing the purchase and checking out.
The app works in conjunction with MasterCard’s MasterPass which offers digital and mobile payment solutions. In essence, it turns your smartphone or tablet into a credit card of sorts so you can shop, shop, shop.
ShopThis! was developed by MasterCard Labs’ incubation program, and you’ll be able to check out the first use of the technology in the November iOS issue of WIRED.
[via C|NET]
Feb 27
It sounds boring, but one of the most important frontiers in technology right now is how mobile can make paying for stuff easier. And while this year’s Mobile World Congress might have been a little lacking in four-star hardware, there were some serious steps taken towards replacing your wallet with your smartphone. More »
Jan 20
After almost sixteen years of trying to encourage EMV adoption in the US, MasterCard has hit upon a potential reason why it’s not catching on: its closed, proprietary standard. But that’s changing today, with the financial giant announcing it’s making some of its circuit card tech open to other US debit networks instead of waiting on them to come up with their own solution. An alternative to magnetic strips, EMV claims to provide more secure payments thanks to the use of cryptographic algorithms and user-specific PINs, but hasn’t captured much interest outside of Europe and Asia. Perhaps in opening the standard, MasterCard and crew will spur its adoption stateside and thus garner more EMV followers. Of course, it has to catch on before NFC replaces cards entirely, rendering the issue moot.
MasterCard Strengthens Commitment to Make U.S. EMV Migration Easier
Opens Proprietary, Market-Ready Debit Solution to Speed Industry Adoption
PURCHASE, N.Y.–(BUSINESS WIRE)–MasterCard today announced it is making some of the company’s proprietary technology solutions available to other U.S. debit networks. This decision was made 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.
“By making our EMV solution available today, debit networks, merchants, acquirers and processors can take advantage of a market-ready solution currently in place. This will allow financial institutions to begin issuing EMV cards across their portfolios immediately, rather than waiting for a new solution to be developed.”
In opening this technology standard, MasterCard will allow acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks within the United States.
“We felt it was important to take this step for the greater good of the future of U.S. payments,” said Chris McWilton, president, North America, MasterCard. “By making our EMV solution available today, debit networks, merchants, acquirers and processors can take advantage of a market-ready solution currently in place. This will allow financial institutions to begin issuing EMV cards across their portfolios immediately, rather than waiting for a new solution to be developed.”
Today’s announcement is the latest in a series of decisions by MasterCard to advance the future of electronic payments in the U.S. With the availability of this technology, issuers will be able to simplify their EMV implementation and enabling chip entry with potentially lower costs. At the same time, as merchants and their acquirers map out their terminal plans, they will be able to further optimize their investments, simplify their certification processes and choose their routing of debit transactions.
“We have spoken extensively with the EMV Migration Forum and other groups about the need to cooperate and find a common way to support debit transactions,” said Jane Cloninger, director, Edgar, Dunn & Company. “Based on our experience around the globe, this announcement is a good step to continue the momentum of the U.S. market’s migration toward EMV. We applaud MasterCard for taking a leadership position in this turning point for the industry.”
Additional details around the implementation of the Maestro AID will be made available to all parties involved in the coming weeks.
Filed under: Misc
Source: MasterCard
Nov 16
Display Card Coming Your Way
Posted in: Today's Chili
We tend to attach a whole lot of “smart” to different devices and places these days, ranging from smartphones to smart cars, smart homes, smart buildings, smart windows, and the likes. Well, here is a smart card that has been dubbed the Display Card, which is said to be the next evolution of the humble credit card. It seems that the Display Card has been reinvented to include not only a numeric keypad, but also an LCD display as well. Yes sir, MasterCard does seem intent on rolling out this particular Display Card that they have full confidence in to be the next big thing where credit card technology is concerned.
What makes the Display Card different from the rest of the other cards out there in the market? We ourselves are not too sure, considering how we need to key in a PIN number on our card at this point in time before making a purchase. Perhaps there will be additional security measures introduced alongside this Display Card, but whatever the case is, do expect the Display Card to debut in Singapore soon. Do you think it is going to change the way retail therapy works?
By Ubergizmo. Related articles: MasterCard intros new payment card with built-in display and touch-sensitive buttons, MasterCard lets you order popcorn from your chair,
Nov 07
MasterCard intros new payment card with built-in display and touch-sensitive buttons
Posted in: Today's Chili
MasterCard has unveiled a new payment card that features a built-in display and touch-sensitive buttons. The company has partnered with Standard Chartered Bank Singapore to create Singapore’s first interactive payment card. Manufactured by NagraID Security, the MasterCard Display Card works like a regular payment card but is outfitted with an LCD display and touch-sensitive buttons which, according to the company, will allow users to One-Time Password (OTP) as an authentication security measure. MasterCard says that the card will have more functionalities in the future and will also be able to indicate other real time information such as available credit balance, loyalty or reward points, recent transactions, and other interactive information.
For now, the MasterCard Display Card will be made available only to Standard Chartered Online Banking customers. “MasterCard continues to be at the forefront of payment technology. From launching the first ‘paper’ card in the 1950s, to introducing magnetic stripes and EMV chips for secure, digitised payments, we are pleased to have been able to support the launch of Singapore’s first Display Card by Standard Chartered,” said Matthew Driver, the President of MasterCard South East Asia. “With the continued growth in online and now mobile initiated remote payments, consumers are naturally demanding increased security. The innovative features of the Display Card serve to address this need, whilst empowering consumers to do so much more with their payment cards.”
By Ubergizmo. Related articles: MasterCard lets you order popcorn from your chair, iPhone gains NFC capabilities in Taiwan,
Nov 07
You can have your black card and your credit card carved out of adamantium (just kidding, I would really like that), the only credit card I want is MasterCard’s Display Card. MasterCard has been testing the card that comes with a LCD and touchscreen keypad, for some time and has now introduced it in Singapore. They say the added tech is for security: users can generate a one-time password as an authentication security measure. More »
Nov 07
Mastercard previewing smartphone web payment system with in-person security strength
Posted in: Today's Chili 
Mastercard is already a big fish in the still tiny NFC contactless payment pond, and now it wants to take that same technology to a veritable ocean — internet sales. The plastic purveyor is tag-teaming with ING in the Netherlands for PayPass-based smartphone internet payments that would have a “comparable level of security” to bricks and mortar purchases — by transmitting an EMV-compliant cryptogram or QR code to merchants. That would theoretically make online shopping less risky, and the system would also allow coupons and vouchers to be applied, giving a “similar user experience in both the physical and digital world.” The Dutch trial has already started and will continue until early 2013, but there’s no word if new users can still jump in — check the PR after the break to read the tea leaves for yourself.
Filed under: Cellphones, Tablets, Internet, Mobile
Mastercard previewing smartphone web payment system with in-person security strength originally appeared on Engadget on Wed, 07 Nov 2012 10:03:00 EDT. Please see our terms for use of feeds.
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Nov 07
Mastercard previewing smartphone internet payment system with in-person security strength
Posted in: Today's Chili
Mastercard is already a big fish in the still tiny NFC contactless payment pond, and now it wants to take that same technology to a veritable ocean — internet sales. The plastic purveyor is tag-teaming with ING in the Netherlands for PayPass-based smartphone internet payments that would have a “comparable level of security” to bricks and mortar purchases — by transmitting an EMV-compliant cryptogram or QR code to merchants. That would theoretically make online shopping less risky, and the system would also allow coupons and vouchers to be applied, giving a “similar user experience in both the physical and digital world.” The Dutch trial has already started and will continue until early 2013, but there’s no word if new users can still jump in — check the PR after the break to read the tea leaves for yourself.
Filed under: Cellphones, Tablets, Internet, Mobile
Mastercard previewing smartphone internet payment system with in-person security strength originally appeared on Engadget on Wed, 07 Nov 2012 10:03:00 EDT. Please see our terms for use of feeds.
Permalink | | Email this | Comments
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