Size Of MasterCard® Market
Accept MasterCard® payments and Tap into a market where MasterCard® serves consumers and businesses in more than 210 countries and territories. MasterCard Incorporated (MasterCard®) is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of over 24,000 financial institutions and other entities that are its customers. Customers tend to spend, on average, 16% more when they pay by MasterCard instead of paying by check.
MasterCard® Worldwide (NYSE: MA) is a multinational corporation based in Purchase, New York, United States. Throughout the world, its principal business is to process payments between the banks of merchants and the banks of purchasers that use its “MasterCard” brand debit and credit cards to make purchases. MasterCard Worldwide has been a publicly traded company since 2006. Prior to its initial public offering, MasterCard® Worldwide was a membership organization owned by the 25,000+ financial institutions that issue its card.
It was originally created in 1966 by United California Bank (later First Interstate Bank and subsequently merged into Wells Fargo Bank), Wells Fargo, Crocker National Bank (also subsequently merged into Wells Fargo), and the Bank of California (subsequently merged into the Union Bank of California) as a competitor to the BankAmericard issued by Bank of America, which is now the VISA credit card and issued by Visa® Inc.
The MasterCard® brand is one of the most widely recognized in the world, representing instant buying power, immediate deposit access convenience and security worldwide, and flexible payment options.
Consumers know their MasterCard® cards are accepted at over 25 million locations worldwide. They know they can expect to find the familiar MasterCard Acceptance Mark whenever and wherever they shop for products and services.
Brief History of MasterCard®
1966 – Founded as the Interbank Card Association (ICA).
1968 – Begins formation of global network with banks outside the United States. 1969ICA acquires exclusive rights to the “Master Charge” name and the trademarked interlocking circles.
1974 – Magstripe becomes a standard feature on all “Master Charge” cards.
1979 – Renamed MasterCard to reflect commitment to international growth, following the purchase of Master Charge name and trademark by the California Bank Association.
1983 – MasterCard® introduces hologram security device, an industry first.
1985 – MasterCard® acquires an interest in Europay International’s predecessor, EuroCard.
1987 – MasterCard® is the first-ever payment card issued in the People’s Republic of China.
1988 – MasterCard® acquires the Cirrus® ATM network
1990 – MasterCard® unveils a co-branding strategy and becomes the industry’s co-branding leader.
1991 – Europay® and MasterCard® launch Maestro®, the world’s first online point-of-sale debit network.
1997 – Launch of Priceless®, award-winning advertising campaign, which first airs in October, and runs in 98 countries and in 46 languages. This campaign significantly raises brand awareness and usage and enters MasterCard into the lexicon of everyday usage.
2001 – Launch of MasterCard® Advisors professional services, the largest global consultancy focused on the payments industry.
2002 – MasterCard® merges with Europay International to create MasterCard® International—one worldwide company with one management team and converts to a private-share corporation in
June 2002. MasterCard® is in the best position to achieve its goals as an industry leader and to help the company’s customers achieve profitable growth.
MasterCard® launches and completes initial trial of its MasterCard® PayPass® contactless payment program in Orlando, Florida, with Chase, Citibank and MBNA.
2005 Additional financial institutions begin issuing MasterCard® PayPass® in 2005 and 2006. Card Technology magazine presents MasterCard with two Breakthrough Awards for its PayPass technology.
2006 MasterCard® transitions to a new corporate governance and ownership structure. MasterCard Inc. begins trading on the New York Stock Exchange under ticker symbol MA.
MasterCard® introduces new corporate name, MasterCard Worldwide, and adopts a new corporate signature and tagline, The Heart of Commerce, to reflect the company’s globally integrated structure and strategic vision of advancing commerce worldwide.
2007 MasterCard Worldwide launches knowledge leadership initiative with the Worldwide Centers of Commerce.
Recent Quote by Robert Selander: MasterCard® President and Chief Executive Officer
“We are making investments in some of the emerging markets where we continue to see growth. We will probably increase some of those investments as the relative growth rate in those markets is better than some of our more mature and struggling economies,”
How to Accept MasterCard®
First, register for the Referral Program. Click Here to Register
To obtain a customized list of acquirers/MSPs registered with MasterCard you must enroll in the Referral Program. An acquirer is a financial institution that is a licensed MasterCard member that provides services such as card payment processing, hardware and software, monthly statements, and more. An MSP is a third-party contracted by some MasterCard-licensed member banks to handle merchant services on their behalf and may function as a sales agent for an acquirer.
When you register in the Referral Program you may be contacted by participating Acquirers or MSPs by e-mail or telephone. If you do not wish to be contacted, you may choose that option during the registration process.
An acquirer is a financial institution that is a licensed MasterCard member that provides services such as card payment processing, hardware and software, monthly statements, and more.
Next, log-in and review acquirers/MSPs.
Once you complete and submit your profile, log in to the Referral Program using your Username and Password to review the acquirer and MSP profiles that match your request.
Then, set up a merchant account.
How Auric Systems can help your organization Accept MasterCard® payments
With Auric merchants can simplify payment processing and accept a wide range of payment brands. Auric can help your organization to accept MasterCard® payments with our PCI Validated CN!Express®, Trevance® or as a PCI Service Provider with Custom Solutions.
The CN!Express® payment applicarion is a complete payment system that will simplify the acceptance of MasterCard Payments
The CN!Express® payment application contains everything you need in one package. Set it up in minutes, then sit back while CN!Express processes your transactions quicker than any comparably priced product on the market.
The Trevance® payment application is a complete payment system that will simplify the acceptance of MasterCard Payments
the Trevance® payment application contains everything you need in one package. The communications links and web interface are built in and included in the low cost. So are support and maintenance for the entire first year. There’s nothing more to buy. The Trevance payment aplication is compatible with all web development environments. You can also process transactions with non-web tools. If your non-web tool can request a web page, you can process transactions through the Trevance payment application built-in web-server.
Auric Systems International understands that a customized solution can be a critical element in your business environment. We listen to your needs and answer your questions personally and in clear language. We learn your business requirements and design a plan suited to your budget and goals. It is our job to use best-of-breed security with industry-proven techniques and technologies to deliver the results you want.
As a PCI Service Provider and maker of PCI DSS Validated Payment Applications, we would like to take this opportunity to make you aware of Payment Card Industry (PCI) recommendations that “Live Credit Cards” not be used during Payment Application testing. Auric Systems is making Sample Credit Cards by Various Credit Card Brands available here for Testing Purposes.
Merchants, please call 1-800-MCAssist (1-800-622-7747 FREE) or write to:
US Commerce Development
2000 Purchase Street
Purchase, NY 10577
Phone: (914) 249-2000
Fax: (914) 249-4206
Contact Auric Systems today!
By email: Sales@AuricSystems.com