ADVFN - Advanced Financial Network.
HOME» NYSE » M » MA Stock Price » MA Stock News

Mastercard Share News

 Mastercard Stock Price
MA Stock Price
 Mastercard Stock Chart
MA Stock Chart
 Mastercard Stock News
MA Stock News
 Mastercard Company Information
MA Company Information
 Mastercard Stock Trades
MA Stock Trades

Discover Adds Google Wallet Button for Card Customers

By Andrew R. Johnson Discover Financial Services (DFS) is making it easier for its credit-card customers to use Google Inc.'s (GOOG) new pay-by-phone service. The Riverwoods, Ill., lender said Thursday it is adding a feature to its online account website that will let customers click a button to have their credit cards automatically loaded into the Google Wallet software application. The app, which turns certain Android smartphones into payment devices, allows users to make purchases at participating retailers by tapping their phones against special payment terminals instead of swiping a plastic card. "Our cardholders regularly use their Discover card to make purchases and payments online, in store and now more frequently through their mobile devices," Sanjay Gosalia, director of mobile for Discover, said in a statement. Discover is the sixth-largest credit-card issuer based on spending and operates a payments network that competes against Visa Inc. (V), MasterCard Inc. (MA) and American Express Co. (AXP) to process transactions. All four companies are testing a variety of new services aimed at turning consumers mobile devices into credit-card replacements in hopes of growing their transaction volume. Research firm Gartner Inc. in May said it estimated the value of mobile-payment transactions would reach $617 billion world-wide by 2016, up from $105.9 billion in 2011. Discover's move follows Google's announcement earlier this month that it had updated its mobile-wallet app to allow consumers to add any credit and debit card to the software to fund purchases. That tweak allows customers to go to a website to register their cards for the service. Google's initial plan was to work with individual banks, which then would help enroll their customers in the service; however, the company realized this method could take too long. Google had announced only one bank partner, Citigroup Inc. (C), since launching Google Wallet last year. As such, consumers had been limited to adding certain MasterCard-branded cards issued by Citi. To use Google Wallet, a consumer must have an Android smartphone that contains a technology called near field communication, or NFC, which allows for the transfer of information from the phone to a payment terminal. Google said earlier this month the service is compatible with six smartphones, which can be used at more than 200,000 U.S. locations. The Internet giant's recent shift in strategy wasn't welcomed by everyone in the payments industry, though. A day after Google announced the new process for loading cards to its digital wallet, American Express said it didn't have an official deal to be part of the service and is reviewing the application to determine if it meets its standards. The credit-card company has the ability to turn off the use of its cards in Google Wallet at any time, a spokesman for American Express previously said, though it hasn't done so at this time. "We're in discussions with them," Ed Gilligan, vice chairman of American Express, said during an investor presentation last week. "There are some concerns there, a little bit on information but a lot about clarity and transparency to our cardmembers." American Express, like its competitors, is promoting its own digital wallet called Serve, a service similar to eBay Inc.'s (EBAY) PayPal that lets customers fund accounts with existing credit, debit and checking accounts, including those from other card issuers. Write to Andrew R. Johnson at Subscribe to WSJ:

Stock News for Mastercard (MA)
10/25/201620:54:00PayPal Partnership With Credit Cards Aims at Gaining Ground in...
10/25/201608:00:00Mastercard Makes Commerce More Conversational with Launch of...
10/25/201603:02:00Visa Profit Is Boosted By Volume -- WSJ
10/24/201619:14:00Visa Profit Rises 28% as Results Top Wall Street Views -- 3rd...
10/24/201617:10:00Visa Profit Rises 28% as Results Top Wall Street Views
10/24/201612:00:00Mastercard Enables Microsoft Wallet, Android Pay and Samsung...
10/24/201611:00:00Mastercard and BMO make fingerprint and 'selfie' payment technology...
10/20/201617:40:00Paypal Revenue Climbs on Growing Active Accounts
10/20/201614:00:00Mastercard Incorporated to Participate in Upcoming Investor Conference
10/20/201611:30:00100 million Africans will be impacted across 33 markets by Masterpass...
10/18/201617:20:00Visa Boosts Dividend by 18%
10/15/201609:19:00Cashing Out: ATMs Try to Stop Wave of Cyberattacks
10/15/201607:29:00Cashing Out: ATMs Try to Stop Wave of Cyberattacks
10/06/201611:50:04Statement of Changes in Beneficial Ownership (4)
10/06/201611:49:02Statement of Changes in Beneficial Ownership (4)
10/03/201622:20:00PayPal Promotes Braintree, Venmo Executive to Operating Chief
09/29/201616:14:35Current Report Filing (8-k)
09/28/201605:00:00Mastercard Accelerates the Pace of Commerce Innovation with Launch...
09/27/201613:00:00MasterCard Incorporated to Host Conference Call on Third-Quarter...
09/27/201609:15:00MasterCard Incorporated Board of Directors Announces Regular...

Mastercard and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations