One of the leading credit card companies recently announced that use of its merchant services-related products had increased during the second quarter of the year.
A conference with investors in New York,, MasterCard CEO Ajay Banga said that from April to late May, card usage had increased around 17 percent worldwide.. He also mentioned the ongoing financial crisis in Europe, where Greece is expected to leave the Eurozone. He said that the situation could effect cardholders in the region and that some consumers may get cut off from the merchant services.
“You have got a crisis management team, the risk management processes, operational monitoring … transactions on a real-time basis in a number of these countries,” Banga stated Thursday. “But if it is a disorderly exit and happens overnight… there would be card holders whose cards wouldn’t work.”
MasterCard made other headlines recently when it came out with its own mobile payment system. The firm’s PayPass Wallet will allow consumers to pay for goods and services using smartphone devices.Back To Blog