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This article discusses the impact of technological innovation on financial businesses, specifically focusing on the transformation of payment cards and the shift towards contactless payments. It also highlights MasterCard's role in driving innovation in the payments industry.
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Vanya Manova Manager of MasterCard Europe Rep office for Bulgaria and Macedonia Technological innovation and it’s impact on financial business Sofia, June 2015
Payment cards ARE technological innovation • On top cash is: • it’s unsafe • It’s untraceable • It’s not cheap • It facilitates criminals • It’s dirty • Cards replace and upgrade cash: • 24x7 access • Worldwide acceptance • Access through alternative payment channels
For 50 + years, MasterCard has been transforming how the world pays and gets paid …our innovation continues 1960 1970 1980 1990 2003 2006 2010 2014 2015… The digital shift is the biggest change in payments since the introduction of plastic.
Contactless Payments Meet the Needs of Key Consumer Segments and all industries Young Professionals Affluent X-Border Travelers Affluent with no Kids Optimistic & Emerging Multiculturals Mass/Affluent Families Affluent Families Whether you are a mom on the go, an international traveler, or just doing some shopping around town, contactless can meet your need for fast, secure, and convenient payments.
MasterCard contactless is accepted at 68countries at 3 million merchant locations
Mobile Contactless (Contactless) Mobile Contactless: program that allows MasterCard payment products to be loaded onto a mobile telephone or other portable device that supports NFC* *NFC is a technology that allows a cell phone to securely transmit information wirelessly. It can be used for making payments and transferring information, wirelessly.
MasterCard Gets Europe to Tap Everywhere by 2020 MasterCard establishes the acceptance of contactless payments as a standard in Europe Key dates Objective • Existing POS terminals can be replaced at end of lifecycle, but at the latest by 1 January 2020. • New POS terminals must adhere to the new standard upon deployment as from 1 January 2016. • Between now and 2020 there are other requirements, such as PCI compliance, that will require payment terminals to be upgraded providing the opportunity to achieve efficiencies. Our intention is that by 2020, consumers will be able to pay with their contactless cards and NFC enabled devices at all point-of-sale (POS) terminals in Europe. Europe Region Operations Bulletin No. 7, 1 July 2014
Key Statistics 10,300employees 210 countries and territories 43 billion processed transactions US $4.5 trillion* gross dollar volume US $9.5 billion net revenue * Excludes volume generated by Maestro and Cirrus cards All numbers as reported as of December 31, 2014
Our Role Consumers want better ways to pay.We invent them. People want financial access.We find ways to serve them. Checkout linesare too slow.We help them move faster. Commuters are busy.We speed them on their way. Procurement is complicated.We make it simple.
Our Vision, Mission and Values OUR VISION A World Beyond Cash™ OUR MISSION Every day, everywhere, we use our technology and expertise to make payments safe, simple and smart OUR VALUES • TRUST • We act with integrity and respect; we encourage openness • PARTNERSHIP • We work as one team to the benefit of all – consumers, merchants, business partners, governments and the communities we serve • AGILITY • We act with a sense of urgency and deliver value through our innovation and execution • INITIATIVE • We are empowered to take bold and thoughtful action, and we hold ourselves accountable for delivering results
The MasterCard Advantage Unifiedglobal structure Fastestglobal processing platform Powerful brands and Priceless advertising Innovativepayment solutions Strongrelationships Uniqueadvisory capabilities Talentedemployees
