Growth Through Innovation: MasterCard Unveils the Future Of Payments in a Cashless Society

NEW YORK--(BUSINESS WIRE)--At a gathering in New York City, MasterCard (NYSE: MA) showcased an array of products and services demonstrating ways in which the company uses technology and innovation to grow its business, diversify across geographies and customers, and build new business. By driving growth through innovation, MasterCard is advancing commerce to the benefit of governments, businesses, merchants and consumers around the globe.

“As people - whether for business, personal or pleasure - continue to seek simple, more secure and smarter methods of payment, MasterCard is providing a sophisticated set of products and services to make day-to-day commerce easier”

“As people - whether for business, personal or pleasure - continue to seek simple, more secure and smarter methods of payment, MasterCard is providing a sophisticated set of products and services to make day-to-day commerce easier,” said Gary Flood, President, Global Products and Solutions at MasterCard. “From major cities to emerging markets, we are committed to advancing the evolution of digital payments technologies that strike the right balance between the wants and needs of all parties, and importantly, delivers the best consumer experience.”

MasterCard highlighted four key areas where Growth Through Innovation is fundamental to the future of electronic payments

Expanding Reach: Providing tools necessary for governments and merchants to ensure that all citizens worldwide are able to participate in the global economy. Some examples from MasterCard include:
- South Africa using electronic payments to distribute Social Security benefits;
- The Wanda Joint Venture in Latin America, allowing consumers to use mobile money solutions through a basic flip phone to pay merchants at the point-of-sale;
- Accepting payments through mobile point-of-sale (MPOS) devices such as iZettle, Square, etc; and,
Transforming the Shopping Experience: Evolving the shopping experience by creating experiences that exceed consumer and merchant needs and expectations. Some examples include:
- Highlighting PayPass Wallet Services across an array of devices – from laptops to smartphones to TVs;
- How merchants will be able to accept PayPass Wallet Services payments at a brick and mortar location;
Experiences Beyond Payments: Developing new ways to enhance the consumer experience beyond payments. Some new ways MasterCard is doing this include:
- Enhancing consumer experiences through the Priceless Cities and World Elite programs;
- Providing small business owners with new tools and networks with MasterCard Business Network; and,
Leveraging the Power of Technology: At the heart of all this innovation are the MasterCard Network and Advisors services - delivering safe, simple and smart payment solutions.

These new and innovative products and solutions continue the ideal that paying is no longer a one-way transaction. MasterCard is enabling consumers and merchants to engage in a dialogue that allows both parties to share information and help provide new value.

Editor’s Note:

Images from the event can be found at http://newsroom.mastercard.com/digital-press-kit/growth-through-innovation.

About MasterCard Worldwide

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

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