What is the brief history of Mastercard?
Mastercard is a global payment technology company that provides payment solutions to customers worldwide. Here is a brief history of the company:
1966: Firstly, Mastercard becomes founded as “Interbank Card Association” by several California banks to compete with Bank of America‘s BankAmericard, which later became Visa. Moreover, the first card, called Master Charge, issued in 1969.
1979: Furthermore, the company changed its name to “Mastercard” to better reflect its global presence.
1980: Mastercard introduced the first debit card, which allowed cardholders to access funds directly from their checking accounts.
1997: Additionally, Mastercard went public and began trading on the New York Stock Exchange.
2002: Furthermore, Mastercard launches Maestro, a global debit brand that operates in over 100 countries.
2006: Mastercard introduced PayPass, a contactless payment technology that allows customers to make purchases by tapping their card or device on a terminal.
2013: Mastercard acquired Travelex’s prepaid card program and entered the prepaid market.
2016: Mastercard acquired VocaLink, moreover, a payment technology company that operates the UK’s real-time payments system.
2019: Mastercard launched its Priceless Cities program, which offers exclusive experiences and offers to Mastercard cardholders in cities around the world.
In conclusion, today, Mastercard is one of the largest payment technology companies in the world. Moreover, with operations in more than 200 countries and territories. And lastly its products and services become used by millions of consumers and businesses every day.
What is the brief history of Mastercard?
