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Showing posts with label Visa. Show all posts
Showing posts with label Visa. Show all posts

August 21, 2014

MasterCard to Double its Transactions to 42billion on the back on 4 new co-branding Launch

plastic cards break up by Numbers

Credit card giant MasterCard, the second largest payments network in the U.S has been outmaneuvering its rivals and outbidding the markets  this year in 2014 ,led  by surging transaction volumes in US and as well as non US markets

  1.  The strong performance was also reflected by a nearly 14% growth in revenues in the first half of 2014 compared to the previous year. 
  2. MasterCard in 2013 processed over 38 billion transactions and in 2014 April  it has already processed over 20 billion transactions. Online Stock Research and consultancy firm Trefis is projecting an excess of 41 of  billion transactions by MasterCard ending this year in 2014
  3. Though the numbers look too big to be achieved. Recently MasterCard has drew and slew up many plans that could help achieve its ambitious growth numbers .Among them include 
  • It has created co-branded card partnerships with retail giants Target (formerly partnered with rival visa on co-branded cards) and Wal-Mart which dumped Discover to sign on with MasterCard), 
  • Launched an partnership with Amazon in Japan on a co-branded card.
  •  MasterCard also expanding the Wal-Mart co-branded card beyond ond the U.S. to Latin American markets 
  • MasterCard’s recent agreement with the Middle Easts largest retail brands  Landmark Group, will provide MasterCard with access to more than 6 million new  customers 
  •  MasterCard, originally known as Interbank/Master Charge, was created by several California banks as a competitor to theBankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc In the U.S., which alone contributes 40% of total revenues and is a highly penetrated market