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MasterCard is one of the most widely recognized and respected technology companies in the global payment business. It markets the MasterCard and Maestro (mainly in Europe) brands and operates payments processing network, connecting consumers, financial institutions, businesses, merchants and governments in more than 210 countries and territories. MasterCard connects more than 25 000 banks to 2 billion cards that are used at 40 million merchants all over the globe.

History of MasterCard

The company was founded in 1966 as the Interbank Card Association (ICA) by the group of American banks: United California Bank, Crocker National Bank (of CA), Wells Fargo, and Bank of California. Later the company’s name was changed to Master Charged. And in 1979 it was finally renamed to MasterCard. Now we know it as MasterCard Worldwide with headquarters in Purchase, NY. MasterCard was created as a competitor to the BankAmericard (the predecessor organization to what is now Visa) issued by Bank of America. From 1966 till nowadays the company has never stopped growing and developing.

In 2016 MasterCard introduced a new logo for the first time in 20 years. It keeps the overlapping red and yellow circles but the horizontal lines are replaced by an orange shade in the overlap. The word MasterCard is outside the circles now, the letters M and C were capitalized in the old logo; in the new one all the letters are lowercase.

Advertising and Interesting Facts

MasterCard ads campaign “Priceless” has been running since 1997. In a very first commercial a dad and his son go to a baseball game where dad pays for a hot dog and a drink, but the conversation between them is priceless. “There are some things money can’t buy. For everything else, there’s MasterCard.” – this famous slogan is the main idea of company’s policy. MasterCard believes that experiences matter more than things. The iconic campaign “Priceless” was some kind of cultural and social phenomenon.

After 17 years of very successful campaign, MasterCard decided to bring it to another level, which took consumers from observing priceless moments to enabling priceless moments. During that campaign consumers could win tickets to Yankee game or meet there pop idol.

MasterCard sponsors many sports events such as Formula One Racing, FIFA World Cup and others.

It is also one of the leading companies in diversity. It has been awarded “Top Company for Inclusive Culture” and in 2017 MasterCard is #7 among the top 50 companies in diversity.

The company has been publicly traded at NYSE under the symbol of MA since 2006.

As MasterCard is a technology company, they doubled down on innovations: PayPass - contactless technology with Apple, MasterPass - company’s digital wallet and etc. The main competitors of the brand are Visa Inc., American Express Company, PayPal and Discover Financial Services. Company’s net revenue for the 2016 was $10.8 billion. Year after year only in U.S, MasterCard spends more than $300 million on ads.