MasterCard
Headquarters:
2000 Purchase St.
Purchase, NY 10577
Employees: 4,600
CEO: Robert Selander
Website: http://www.mastercardintl.com
Stock Symbol: MA
Career Page
MasterCard Incorporated is a leading global
payments company that provides credit card and debit card payment
to businesses and customers allowing them to boost sales and
make purchases without using cash. It is the second-largest payment
network behind Visa with 18 billion transactions processed last
year.
MasterCard Inc. manages a family of well-known,
payment cards brands including MasterCard, Maestro and Cirrus
and serves financial institutions, consumers and businesses in
over 210 countries and territories. Cards can be used at 25 million
locations worldwide, including a network of over 1 million ATMs
and locations where cash can be obtained.
MasterCard does not issue cards or determine
annual fees and interest rates. Member banks, which number 23,000
worldwide, have responsibility for issuing cards, setting annual
fees on cards, and determining annual percentage rates and other
features such as rewards programs.
A total of 817 million MasterCard-branded
cards were issued in 2006. Worldwide purchase volume was nearly
$2 trillion.
MasterCard reported record revenue in 2007
of $4.1 billion and net income of $1.09 billion. Profits reflect
a gain of $254 million from selling a significant portion of
the company's investment in Redecard S.A. in Brazil.
History
MasterCard began in the late 1940s when
several U.S. banks started giving their customers specially-issued
paper that could be used like cash in local stores. In 1951,
The Franklin National Bank in New York formalized the practice
by introducing the first real credit card.
Over the next decade, several franchises
evolved where a single bank in each major city would accept cards
as payment with certain merchants they'd chosen to work with.
On August 16, 1966, one of these groups formed the Interbank
Card Association (ICA).
The "Master Charge" business
as it was known then was purchased by the California Bank Association
in 1969. The service was renamed MasterCard in 1979 to reflect
a commitment to international growth. In 1988, it acquired the
Cirrus ATM Network.
MasterCard unveiled the "Priceless"
advertising campaign in 1997 which has been very popular and
continues today. In 2002, MasterCard merged with Europay International
and converted from a membership association to a private share
corporation.
The company is headquartered in Purchase,
NY with 37 offices around the world. Technology headquarters
are in St. Louis with regional headquarters in Waterloo, Singapore,
Miami and Dubai.
The company went public in May of 2006.
Benefits
- Medical Insurance - HMO, POS, PPO
- Dental Insurance - PPO, DMO
- Vision Care
- Life Insurance
- Accidental death and dismemberment insurance
- Flexible spending accounts
- Disability Programs (STD/LTD)
- Shared profit and savings plan
- Business travel accident insurance
- Pension plan and Retiree Health Plus program
- Tuition reimbursement up to $7,500 per year
- Bonus programs
- Flexible work schedules
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