Mastercard beats earnings estimate as consumer spending holds and cross-border transfers rise January 26, 2023 Consumer spending holding strong and a jump in cross-border payments helped Mastercard beat analyst’s earnings estimates for the last quarter, the company said today. At $2.62, Mastercard’s earnings per share was slightly higher than analyst estimates, while profit rose six percent in the period to $2.5bn, matching expectations, the firm said in its quarterly earnings [...]
Brits switch to social media for music as concerts go meta, says Brit Awards sponsor Mastercard January 16, 2023 Younger Brits are more likely to get their music recommendations from social media with TikTok and Instagram the most popular platforms. According to a new report by Mastercard 56 per cent of those aged 16-24 found their favourite music online. The report by the Brits Awards sponsor claims social media is overtaking physical concerts and [...]
Ocado beats Google, Microsoft and Mastercard to become one of best firms to work for in Britain January 11, 2023 Food delivery tech firm Ocado beat Google, Microsoft and Mastercard to be crowned as one of the best firms to work for in the UK. In fresh data published by Glassdoor today, Bain & Company was rated Britain’s top employer, with the tech sector dominating the list, taking 21 out of 50 spots. There were [...]
UK class-action lawsuits against Google, Apple and Sony see value of competition claims surge to £26bn January 9, 2023 The value of UK competition class-actions surged last year, according to new data published today, following the filing of a series of multi-billion-pound claims against some of the world’s biggest tech companies, including Apple, Google and Sony. The value of class-action lawsuits filed in the UK over claims around anti-competitive behaviour surged six-fold over the [...]
Court blocks Mastercard’s bid to exclude three million dead people from collective action lawsuit November 30, 2022 A UK appeals court has blocked Mastercard’s bid to prevent three million dead people from participating in a £10bn class action lawsuit against the credit card company. The UK’s Court of Appeals refused to exclude three million individuals who died after the class-action lawsuit was first filed against Mastercard in September 2016. The decision comes [...]
Mastercard strikes deal with Binance to launch crypto payments card August 24, 2022 Mastercard is set to launch a cryptocurrencies payments card, after striking a deal with Binance, the world’s largest crypto exchange. The crypto debit card will let users pay for everyday purchases using various cryptocurrencies, including Bitcoin, that they have stored in their Binance accounts. The payments card, which converts cryptocurrencies into fiat currency, is set [...]
Millions of Brits in for shock charges as credit card rates hit highest level since 1998 August 9, 2022 With credit card borrowing growing at its fastest pace since 2005, new analysis shared with City A.M. this morning shows that last month average rates on credit cards hit their highest level since 1998. An analysis of the Bank of England’s quoted household interest rate figures uncovered that average credit card rates jumped 0.23 percentage [...]
Watchdog set to review fees charged by Visa and Mastercard June 21, 2022 The UK’s top payments regulator has set out plans for two wide ranging reviews of Visa and Mastercard’s operations in the UK today amid concerns over soaring card fees.
Ex-banker turned GoCardless president Paul Stoddart talks fintech, Brexit, pandemic recovery and Russia May 28, 2022 At the start of this month, Paul Stoddart jumped ship to become the president of the newly-minted fintech unicorn GoCardless. Stoddart, who describes himself as a “banker by trade,” spent years at Natwest, Barclays, and was most recently the chairman of Mastercard’s VocaLink. In an exclusive interview with City A.M., Stoddart said that joining GoCardless [...]
Cost of borrowing surges as overdraft rates hit record highs: Credit card fees back to the ’90s May 10, 2022 Data covering quoted household interest rates on consumer credit products released by the Bank of England this week reveal the rising cost of borrowing for UK households, With the Bank hiking interest rates by 0.25bp last Thursday and inflation expected to show a climb yet again for April, the fresh data demonstrates the difficult decisions [...]