n Union and elsewhere. In the United States, the company and its customers are respectively subject to Federal Trade Commission and federal banking agency information safeguarding requirements under the Gramm-Leach-Bliley Act that require the maintenance of a written, comprehensive information security program. Anti-Money Laundering: MasterCard is subject to anti-money laundering (AML) laws and regulations, including the regulatory requirements of Section 352 of the USA PATRIOT Act. Economic Sanctions: The company is subject to regulations imposed by the U.S. Office of Foreign Assets Control (OFAC) restricting financial transactions and other dealings with Cuba, Iran, Syria and Sudan and with persons and entities included in OFAC's list of Specially Designated Nationals and Blocked Persons (the SDN List). Banking Agency Supervision: Certain of its operations are periodically reviewed by the U.S. Federal Financial Institutions Examination Council under its authority to examine financial institutions' technology service providers. Consumer Financial Protection Bureau and Financial Stability Oversight Council: The Consumer Financial Protection Bureau (the CFPB) has significant authority to regulate consumer financial products in the United States, including consumer credit, deposit, payment, and similar products. Regulation of Internet Transactions: Under the Unlawful Internet Gambling Enforcement Act, payment transactions must be coded and blocked for certain types of Internet gambling transactions. The legislation applies to payments system participants, including MasterCard and its U.S. customers, and is implemented through a federal regulation. Significant Events In February 2013, in acquiring C-SAM, the company would speed the development and deployment of mobile wallets and payment solutions globally, including the rollout of its MasterPass digital service. Today's announcement builds upon a global strategic partnership developed between the two companies in December 2012, as well as a minority investment by the company. In February 2014, MasterCard (NYSE:MA) and Syniverse joined forces to deliver mobile and payment services to enhance peace of mind for mobile users when they are traveling abroad. In March 2014, MasterCard announced collaboration agreement with Deutsche Telekom, Telefonica Deutschland, Vodafone and TREVICA. MasterCard Incorporated announced that it will expand its Luxury Hotels & Resorts Portfolio to include more than 1,000 properties for World and World Elite MasterCard cardholders, beginning January 1, 2015. In October 2014, MasterCard has opened its new technology hub in New York City that will showcase its newest digital innovations such as MasterPass, MasterCard Digital Enablement System (MDES) and wearable technology. Competition The company competes worldwide with payment networks such as Visa, American Express and Discover. Debit: The company competes with ATM and point-of-sale debit networks in various countries, such as Interlink, Plus and Visa Electron (owned by Visa Inc.), Star (owned by First Data Corporation), NYCE (owned by FIS), and Pulse (owned by Discover), in the United States; Interac in Canada; EFTPOS in Australia; and Bankserv in South Africa. End-to-End Payments Networks: The company’s competitors include operators of proprietary end-to-end payments networks, such as American Express and Discover. Third-Party Processors: The company faces competition, and potential displacement, from transaction processors throughout the world, such as First Data Corporation and Total System Services, Inc. Alternative Payments Systems and New Entrants: The company’s competitors include digital wallet providers such as PayPal, Google and Amazon; mobile operators such as Isis; and social networks, such as Facebook. History MasterCard Incorporated was founded in 1966.
mastercard inc-class a (M4I:Frankfurt)
2000 Purchase Street
Purchase, NY 10577
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|SAP SE||€57.46 EUR||-0.85|
|US Bancorp/MN||$43.05 USD||-0.48|
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