MasterCard news and archive

US Mastercard report: Sales increase over festive season, apparel leads digital sales

This festive season appeared to be a valuable time of the year for US retailers according to preliminary insights from Mastercard SpendingPulse, which reported a year-over-year uptick in retail sales in the region, with a peak coming in the final five days before Christmas. According to the data, US retail sales (excluding automotive) rose 3.8...

Retail

US Black Friday retail sales grow 3.4 percent this year

Black Friday is far from being over in the United States, as shoppers across the nation continue to indulge in the annual discount day. According to preliminary insights from Mastercard SpendingPulse, retail sales (excluding automotive) grew 3.4 percent year on year on November 29, compared to Black Friday in 2023. As more retailers spread out...

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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...

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Retail

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...

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Retail

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...

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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...

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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,...

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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...

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Retail

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"...