MasterCard news and archive

US retailers call for action against soaring credit card fees

Retailers across the nation are calling for action to be taken against increasing credit card swipe fees, which are driving up costs for businesses and consumers. At a Senate Judiciary Committee hearing on November 19, the National Retail Federation (NRF) underlined the economic impact caused by these fees and pushed for the Credit Card...

RetailFeatured

US holiday spending expected to be up 3.2% year-on-year this season

US shoppers are expected to spend 3.2 percent more this holiday season than last year, as retailers nationwide kick off the seasonal period earlier each year. According to Mastercard’s latest SpendingPulse Insights data, which tracks in-store and online retail sales across all payment types, US holiday shoppers will likely concentrate most of...

RetailFeatured

US fashion retail sales up 4.4 percent during holiday season

Fashion retailers in the US experienced a year-on-year increase in sales during the crucial holiday season, new data reveals. Apparel sales were up 4.4 percent year-on-year in the period between November 1 and December 24, according to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment and is...

Business

Gap is launching a new credit card to booster loyalty, but who wants it?

Gap Inc is launching a new credit card partnership with Mastercard. It's a chic navy card, minimalist with degradé colour and a simple Gap logo. But the question is: who wants to take out a store credit card in 2022? The news comes as Gap only last year announced Barclays as its official card issuer. The fashion conglomerate, which also operates...

Business

American Express, Visa and Mastercard suspend operations in Russia

Visa, Mastercard and American Express have all suspended operations in Russia following the country’s invasion of Ukraine. In a statement, Stephen J. Squeri, chairman and chief executive at American Express, said: “In light of Russia’s ongoing, unjustified attack on the people of Ukraine, we are suspending all operations in Russia. “As a result,...

BusinessFeatured

Mastercard pilots digital payments to garment workers

Mastercard is teaming up with global apparel companies, Marks and Spencer, Levi Strauss and Co., and VF Corporation, to pilot a scheme to pay garment workers digitally, to ensure that workers receive their wages “securely and consistently”. The new hybrid digital payment initiative, in connection with global nonprofit Business for Social...

Fashion

Rodarte debuts exclusive artist collaboration with Mastercard for Fred Segal

Designer-sister duo Kate and Laura Mulleavy, the creative directors behind Rodarte, presented an‘80s-themed capsule collection in partnership with MADE, a fashion discovery platform through IMG, and Mastercard. For the limited-edition collection, which is available exclusively at Fred Segal, fashion label worked with artist and painter Mari...

Retail

Visa & Mastercard to cut fees on payments made with foreign credit cards in Europe

The European Commission has accepted an offer by Visa and Mastercard to significantly reduce the fee European retailers need to pay to the cardholder’s bank when a tourist or online shopper makes a payment using a credit card issued outside the bloc. Known as Inter-regional interchange fees or inter-regional MIFs, these fees will now be reduced...

RetailFeatured

Mastercard to launch 'selfie pay' in the UK

As consumers continue to embrace 'next generation of payments' whilst shopping online, Mastercard aims to launch its new facial recognition payment services, also known as 'selfie pay' in the UK. "As more choices are made available to them, the conversation has evolved and consumers seem to be fully embracing the next generation of payments"...