MasterCard

You may have noticed ads for pre-paid bank cards that function a bit like a debit card, a bit like a gift card and a bit like a credit card. Banks claim these cards are ideal for the 17 million Americans who don’t have traditional checking accounts because they allow you to deposit money, make purchases anywhere Visa and/or Mastercard is accepted, pay bills, access your cash from an ATM, track spending online and more. You can even set up direct deposit through the card, so you can access your paycheck or government benefits like unemployment instantly. Banks also tout the safety features of these cards. Most ads mention how the cards are a safer alternative to carrying cash, especially when traveling. They also emphasize that the cards are…

The various streams and experiences that have shaped my life are not so different from what the average African youth faces. The major marker that has formed the crux of my personal goals is my ability to rise above adversity. One of my most profound beliefs is in the power of education. The Mastercard Scholarship program is a gateway to help me actualize a dream that will resonate across the board. I believe that education puts everyone in an advantaged position irrespective of their…

point out the flaws with EMV technology. The paper starts out by giving a brief historical overview of EMV. They then discuss the technical details of how EMV works and how it can be exploited. This discussion is followed by examples of how the authors tested and experimented with how EMVs work with ATMs. The authors then describe the flaws that have been discovered in the protocol that is used for EMV followed by some possible way to defend against the exploits. To end the paper the authors…

Environmental Scan: Specific Environment Current Rivalry The existing competitors of American Express include Discover Financial Services, Visa, Inc., and MasterCard Worldwide. Unlike American Express and Discover, Visa, and MasterCard do not finance, which means these companies are intermediaries and “they don’t directly finance credit card transactions” (Thangavelu, 2015). That being said, Discover is more in American Express’ strategic group because they both issue cards and work within the…

EMV Contactless Specifications This chapter provides a description of the EMV contactless protocol. Section 3.1 describes the different documents the describe the EMV Contactless specifications. Section 3.2 describes the contactless interface of EMV Contactless cards. Section 3.3 gives a high level overview of the EMV Contactless transactions. Finally, 3.4 gives a complete description of the Mastercard PayPass specifications. 3.1 EMV Contactless Specification Documents The EMV Contactless…

Contactless & Chip), is the motto for this new device. This device uses NFC, near field communications, to communicate between the device and the mobile phone. It works with Apple Pay or Android Pay on an iPhone or Android phone. All that needs to happen, once the Apple Pay or Android Pay is open, is for a phone to be near the Contactless reader. The two then communicate wirelessly to complete the payment and transaction. The other feature or “Dip the Chip”, is when the credit card with an EMV…

In "Stuff Is Not Salvation," Anna Quindlen, a columnist at News Week, talks about how American consumers are out of control with buying the things they want instead of what they need. She talks about how the addiction to consumption is becoming much more of a problem than it should be. People love the idea of getting a good bargain and feel as if they can 't pass it up. She also mentions how this has been going on for decades, all the way back to the Great Depression. The big difference between…

demoing the product thereby advertising the product as easy-to-use and secure (Statt, 2014[GM1] ). Second Year Objectives Throughout the second year Coin plans to have 250,000 devices shipped. The second year retail sales objective is $8.52 million. In the future, COIN intends to dominate the market share at 30%, competing with Plastc and NFC based payment methods like Apple Pay and Samsung Pay (Ciprani, 2015). Issues Trying to enter the market with this kind of product is…

The competition among card companies has definitely increased. American Express is facing some weaknesses that need to be solved. Nowadays, American Express is having a tougher time accommodating to new realities in the world of payment processing. The target consumers are people with strong buying power in Eastern Seaboard and the California coastline that are 30-50 years old. The consumer group is not applying to many retailers and wholesalers such as Costco. Costco was one of the few…

TJX & Heartland – Breach Impact Facts on the case study In August year 2008, eleven individuals were accused of the burglary of more than 40 million credit and plastic numbers from the following stores: T. J. Maxx, Marshall’s, Barnes and Noble, OfficeMax, and other significant retailers. Engineering by PC programmer Albert Gonzalez, the case study stays as one of the biggest cheats of MasterCard data ever. The Heartland case was like the TJX case. Somewhere around the year 2007 and 2009, the…