September 27, 2016 2:11 AM ET

Consumer Finance

Company Overview of MasterCard International Incorporated

Company Overview

MasterCard International Incorporated, doing business as MasterCard Worldwide, provides digital payment solutions and technology. The company operates a payment processing network that connects consumers, financial institutions, merchants, governments, and businesses in the United States and internationally. Its payment products and solutions comprise credit and debit cards, consumer and commercial prepaid cards, prepaid card program management services, and commercial card products; digital payments money transfer and remittance solutions; and analysis, data-driven consulting, and loyalty and rewards marketing solutions. The company also offers payment processing services; and information, ...

2000 Purchase Street

Purchase, NY 10577-2509

United States

Founded in 1966

Phone:

914-249-2000

Fax:

914-249-4206

Key Executives for MasterCard International Incorporated

Chief Executive Officer, President and Director
Age: 56
Chief Financial Officer
Age: 56
President of Operations & Technology
Age: 60
Division President of High Growth European Markets Region
President of Global Products & Solutions and Member of Operating Committee
Age: 57
Compensation as of Fiscal Year 2016.

MasterCard International Incorporated Key Developments

Mastercard Names Khalid Elgibaly as Division President for Middle East and North Africa, Effective May 8, 2016

MasterCard announced the appointment of Khalid Elgibaly as division President for Middle East and North Africa (MENA), effective May 8, 2016. With a network of offices and local centers across the region, MENA is an extremely important market for the business and Khalid will play instrumental role in driving commercial growth, executing the growing and emerging technology payment opportunities in the region, and also deepening business alliances with MasterCard s key partners and stakeholders. Khalid brings a wealth of experience to this role. Most recently, he worked for HSBC Middle East (HBME), where he was the Regional Head of Retail Banking & Wealth Management for MENA.

International Bancard Partners with MasterCard to Accept Payments in Real Estate Market

International Bancard signed an agreement with MasterCard to expand the acceptance of electronic payments for rent payments and other property-related items. Under the terms of the deal, MasterCard will become the preferred payments network accepted for International Bancard's Property Payments digital platform, PropertyPayments.com. The platform allows tenants to pay their rent and other property-related items using a credit or debit card at no cost. According to International Bancard, property managers will be able to use the payment solution to accept rent payments online by combining the Property Payments platform into a property manager's existing website or by enabling the payment module within third-party property management software. Also, owners can use the platform as a rent payment acceptance solution as well as a comprehensive property management tool to accept payments.

SmartMetric, Inc Wins $3 Million Fee Dispute with Visa Inc. and MasterCard International

SmartMetric Inc. advised that it has won a legal fee dispute with Visa Inc. and MasterCard International. The two respective payments card companies had sought what would have approximated to $3 million in fees and costs against SmartMetric arising from the SmartMetric patent infringement claim against Visa Inc. and MasterCard International. Defendants MasterCard International Inc. and Visa Inc. filed a Motion for Attorney Fees on October 30, 2013. (Docket No. 185). On December 18, 2013, the Court granted Defendants' ex parte application to continue the hearing on that motion until after the Supreme Court's decision in Octane Fitness. (Docket No. 210). On January 28, 2014, the Court entered the parties' stipulated order postponing the hearing on that motion until after the Federal Circuit resolved the appeal in this action. (Docket No. 212). After reviewing the docket, its own prior orders, and the declarations made on both sides of this litigation, the Court does not believe that the litigation was undertaken in bad faith or that this case stands out under the Octane standard. Importantly, the Court did not find that SmartMetric's infringement case lacked any legal or factual basis, and moreover, Defendants never brought a motion asserting these deficiencies at that stage of the litigation. Additionally, the Court did not find that SmartMetric's claim construction arguments were frivolous or without merit. Indeed, the Court's Claim Construction Order actually adopted much of SmartMetric's proposed language.

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