Mastercard Inc. is a global company specializing in providing payment and technology solutions. The company was founded in 1966 and is headquartered in Purchase, New York.
Mastercard operates a business model based on various segments, offering a wide range of products and services. The main business areas of the company are:
1. Payment processing
Mastercard is one of the largest payment processing companies in the world. The company processes transactions from credit, debit, and prepaid cards, ensuring smooth payments between merchants, buyers, and banks. Mastercard also offers a variety of payment settlement and billing services.
2. Credit and payment cards
Mastercard is one of the world's largest issuers of credit and debit cards. The cards are accepted worldwide, providing customers with a secure and convenient way to make purchases. Mastercard also offers prepaid cards that customers can load money onto and use as a form of payment.
3. Technology platforms
Mastercard offers a wide range of technology solutions for merchants, banks, and other businesses. These include mobile payment solutions, online payment solutions, tokenization, data analytics, and security solutions. One of the most well-known technology platforms is Masterpass, a digital payment solution that provides customers with a secure and easy way to make online payments.
4. Business-to-business solutions
Mastercard offers a range of solutions for businesses, including travel and expense management, supply chain management, and support for procurement processes. These solutions aim to make it easier and more efficient for companies to manage their financial processes.
5. Consulting services
Mastercard also offers consulting services to support customers in developing and implementing payment strategies and technology solutions. These services include the development of marketing strategies, analysis of customer data, and the creation of business plans.
Overall, Mastercard's business model is focused on providing a wide range of payment solutions and technological services. The company serves customers in various industries, from financial institutions and merchants to government agencies and nonprofit organizations. Mastercard is committed to offering its customers solutions that are secure, user-friendly, and provide a seamless experience.