something radically new. But what's interesting here is that Apple is really working with the existing networks--Visa, MasterCard , the banks, American Express--in order to make this system work, instead of trying to disintermediate them and
acquirer (company that puts the terminal in the merchant location) sends the card information to the network (Visa, MasterCard , Discover, AMEX, etc.). The network sends the information to the card issuing bank (C, JPM, BAC, etc
* MasterCard says caps on credit and debit card fees will continue
holds no telecom services companies such as AT&T T and Verizon VZ. XLK holds IT services companies such as Visa and MasterCard MA and telecom services firms like AT&T and Verizon. IYW, in contrast, holds no IT services companies or telecom
MasterCard 's (NYSE: MA ) appeal against an EU veto on its cross-border card fees has been rejected by Europe's highest court. MasterCard sees the interchange fees as a lucrative source of revenue, despite
LUXEMBOURG, Sept 11 (Reuters) - Europe's highest court rejected on Thursday MasterCard 's appeal against an EU veto on its cross-border card fees which regulators said were anti-competitive.
BRUSSELS (Reuters) - Europe's top court will rule on Thursday whether MasterCard 's cross-border card fees, a lucrative revenue source for the financial industry and the subject of a decade-long battle with EU regulators, are anti-competitive.
* Adverse court ruling could revive British domestic fee probe
Though Visa (NYSE: V ) and MasterCard (NYSE: MA ) are likely to only see a "modest" revenue boost as a result of their partnership with Apple's new payment system, the new
or credit cards can be manually loaded via the iPhone's camera. Apple has partnered with Visa (NYSE: V ), MasterCard (NYSE: MA ) and American Express (NYSE: AXP ) to deliver Apple Pay. The company has also signed up an extensive range