Changes with Mastercard coming!

Seems that Mastercard is going to end it's private charter and go public...with pressure on Visa to follow suit.....

This should put some competitive pressure on rates with other card players such as Amex, Discover on more of an equal footing.... it should also make MC and Visa accountable to the public instead of being able to just be a big bully not worrying about shareholders rights and income....

could be interesting and maybe even make the atmosphere for charging as merchants less volatile in the years to come?

anyway here is the source article, reposted from Washington Post...


http://www.washingtonpost.com/wp-dyn...083100902.html

perhaps mastercard will become a larger player in the credit card market after these changes go thru...it would be nice to be less reliant on visa.

cheers,
Luke

from another board -

"'Mastercard has new regulations that forbids moneybookers from using
funds uploaded to them from a matercard to adult or gaming sites. So if you upload even $5 from a matercard, you will be unable to use any of your moneybookers funds for gaming or adult related sites. thanks"

it was also announced at choker's.

I prefer this version:

CHICAGO, Aug 31 (Reuters) - MasterCard Inc., the world's No. 2 credit card association, said on Wednesday that it plans to go public early next year, ending nearly four decades as a private association.

The move comes as MasterCard, which is owned by the 1,400 banks that issue its cards, faces a growing number of lawsuits that allege its existing ownership structure makes it an illegal cartel of competitors, fixing the prices it charges merchants in violation of antitrust laws.

Analysts said that by broadening its ownership base through an initial public offering, MasterCard could muffle its critics even as it creates a war chest to continue defending past practices.

so they'll go IPO to raise money to fend off pissed merchans.
nice strategy

oh my, a credit card company that is acting like a cartel? no way....say it ain't so!!!!! :dunce:

cheers,
Luke