MasterCard looks for new credit card tech

Friday 13 February 2009

Article by Mozo

MasterCard is looking to extend its considerable reach in the credit card market by buying up emerging technology companies, the group’s financial chief has said.

Speaking to the Sydney Morning Herald, Martina Hund-Mejean said that the company is looking for bargains during this time of economic hardship.

Last month, the firm bought up the Irish company Orbiscom, which allows financial institutions to interact with credit card and debit card holders more easily.

And earlier this week it got involved with a French company to bring out PrePay Solutions, to expand its reach in the European flexible credit card payment market.

“We are very much in the technology areas that are connected to the main business that we are doing,” said Ms Hund-Mejean.

The company may be trying to capitalise on the results of a survey that it conducted in November, which showed that despite the global economic woe, many Australians were still happy to splash the cash on credit cards and debit cards.ADNFCR-1761-ID-19025535-ADNFCR

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