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Tag: Mastercard

Mastercard beats profit forecast as travel, leisure spending rises
Business

Mastercard to acquire BVNK in $1.8bn stablecoin push

Mastercard has agreed to acquire stablecoin infrastructure firm BVNK in a deal worth up to $1.8bn, underscoring its push into blockchain-based payments. The agreement includes as much as $300m in contingent payments and is slated to close before the end of 2026, pending regulatory approvals and other customary conditions. The move highlights Mastercard’s effort to […]

European retailers urge EU to tackle high Visa, Mastercard fees
Business

Mastercard, Sterling Bank partner to empower farmers via technology

Mastercard has partnered with Agriculture Summit Africa 2025, hosted by Sterling Bank in Abuja, to promote digital empowerment for farmers through technology-driven solutions. The partnership was unveiled at a press conference held at Sterling Bank’s headquarters. ASA serves as a leading platform for advancing agricultural transformation and building sustainable food systems across Africa. The 2025 […]

Mastercard beats profit forecast as travel, leisure spending rises
News

Mastercard beats profit forecast as travel, leisure spending rises

Mastercard surpassed Wall Street expectations for its second-quarter earnings on Thursday, fueled by continued strength in consumer spending on travel and leisure, despite inflation and trade-related economic pressures. The payments giant reported an adjusted profit of $4.15 per share for the quarter ending June 30, topping analysts’ estimates of $4.03, according to LSEG data. Net […]

Crypto

Tech, Crypto startups challenge Visa, Mastercard’s payment dominance

Tech firms and crypto start-ups are targeting the long-held turf of Visa and Mastercard, using stablecoins — a new form of digital currency — to offer merchants a compelling alternative: lower fees, quicker settlements, and the ability to sidestep traditional payment networks altogether. This marks both a technological and financial challenge. Stablecoins, typically pegged to […]

Mastercard beats profit forecast as travel, leisure spending rises
Business

US judge rejects $30b Visa, Mastercard swipe fee settlement

A United States federal judge on Tuesday threw out a proposed $30 billion settlement between Visa, Mastercard, and U.S. retailers, signaling that the credit card giants may need to offer greater concessions to end their long-running swipe fee dispute. The deal, unveiled in March, sought to lower the interchange fees merchants pay on credit card […]

European retailers urge EU to tackle high Visa, Mastercard fees
Business

Mastercard, Enza partner to boost fintech connectivity across Africa

Mastercard has partnered with payment solutions provider enza to connect fintech companies across Africa to its network, aiming to better serve both consumers and businesses. The collaboration was disclosed in a statement on Saturday, according to The Punch. A European Investment Bank report shows that the number of fintech companies in Africa has nearly tripled […]

Foreign travellers to price tickets N770/$1 from N663/$1
Travel

Top travel destinations with highest fraud rates – Mastercard report

Many travelers worry about falling victim to scams when visiting new places—concerns like pickpocketing or being tricked by what appears to be a legitimate tour company. These fears, are not unfounded, according to Mastercard. A recent study reveals that the travel industry is a major target for scammers, who exploit tourists’ unfamiliarity. The Mastercard Economic […]

European retailers urge EU to tackle high Visa, Mastercard fees
News

European retailers urge EU to tackle high Visa, Mastercard fees

Some of Europe’s biggest retailers and e-commerce companies have called on the European Commission to address what they describe as excessive and opaque fees imposed by United States payments giants Visa and Mastercard. In a joint letter sent this week, the group warned that such fees are undermining the EU’s competitiveness and stifling market competition. […]

Mastercard beats profit forecast as travel, leisure spending rises
Tech

Mastercard empowers AI agents to shop, process payments for you

Mastercard Inc. announced a groundbreaking collaboration with Microsoft Corp. and other top artificial intelligence firms to empower AI agents to shop and process payments online for consumers. The initiative, unveiled Tuesday, allows AI tools like Microsoft’s Copilot to autonomously search for products, present options, and complete purchases while suggesting optimal payment methods. For instance, a […]

European retailers urge EU to tackle high Visa, Mastercard fees
Crypto

Mastercard adopts digital assets with new stablecoin payment option

Mastercard has officially integrated stablecoin settlement support, allowing users and merchants to conduct transactions using stablecoins like USDC. This move marks a significant step in mainstream adoption of digital assets, enabling select Mastercard merchants to accept stablecoins as payment. Mastercard is partnering with firms, including payments processor Nuvei and stablecoin issuers Circle and Paxos, to […]

Mastercard forecasts 6% rise in Nigeria's diaspora remittance
News

Mastercard forecasts 6% rise in Nigeria’s diaspora remittance

Global payment technology company Mastercard has projected a six per cent increase in consumer spending in Nigeria by 2025, citing remittance inflows as a key driver of economic resilience. The forecast was disclosed in the Mastercard Economics Institute’s 2025 Economic Outlook for Nigeria: Steering through Change, which analyses trends expected to shape the economic landscape […]

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