FinovateFall 2011 / MasterCard Worldwide
Presenter Profile:
How they describe themselves: MasterCard is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
How they describe their product/innovation: MasterCard inControl is an innovative, flexible service, which enables issuers to easily introduce payment products that offer unparalleled controls and real-time alerts to both consumer and commercial cardholders. The suite of inControl offerings satisfies strong end-user needs for high security and controlled access to spending accounts, while providing cost-efficiencies and speed-to-market for issuers without the need for any changes in the payment process at the merchant.
Contacts:
Bus. Dev.: Dana Duman, VP MasterCard inControl, Emerging Payments, dana_duman@mastercard.com
Press: Joanne Trout, Senior Business Leader, MasterCard Worldwide Communications, joanne_trout@mastercard.com
Sales: Chris Benedict, Senior Business Leader, Expert Sales, chris_benedict@mastercard.com
Website: www.mastercard.com/us/company/en/
HQ Location: Purchase, NY
Company Founded: 1966
Product Being Demoed: MasterCard inControl™
Product Launched: The inControl platform first launched in 2008 with PurchaseControl for corporate clients. Since then, the inControl product suite has expanded to additional products for consumer cardholders. Today’s demo features the Small Business Controller product, which launched this summer.
Metrics: In 2010, $2.7 trillion in gross dollar volume was generated on MasterCard products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard’s net revenue for the full-year 2010 was $5.5 billion.
- Key Executives
Ajay Banga (CEO & President, MasterCard Worldwide), Edward McLaughlin (Chief Emerging Payments Officer, MasterCard Worldwide), Michael Fiore (Group Head & SVP MasterCard inControl; Emerging Payments)
Key Stats
- Key Customers
inControl technology has 35+ implementations with customers around the world, including both global and regional banks. Key customers include: Banco Popolare di Milano (BPM), Bank of the West, Barclays, Citi GTS, HSBC, ING, JP Morgan Chase, President’s Choice, Royal Bank of Scotland, Standard Chartered Bank and more, including reach-to-mobile co-brand customers such as Airtel and Orange (France Telecom).