September 23, 2014 2:36 PM ET

Consumer Finance

Company Overview of MasterCard International Inc.

Company Overview

MasterCard International Inc., doing business as MasterCard Worldwide, provides payment processing products and solutions, and related consulting services for consumers and businesses in the United States and internationally. It offers credit, debit, prepaid, personal, commercial, chip, and contactless cards; and loyalty and reward solutions, and cardholder benefits and services. The company also provides payment processing solutions; and payment security and fraud management solution to monitor, detect, and fight fraud through the transaction lifecycle. In addition, it offers payments-focused consulting, information, and outsourcing services to financial institutions and merchants. Further,...

2000 Purchase Street

Purchase, NY 10577-2509

United States

Founded in 1966

Phone:

914-249-6524

Fax:

914-249-4206

Key Executives for MasterCard International Inc.

Chief Executive Officer
Age: 54
President of Global Technology & Operations
Age: 58
Chief Executive Officer of Mobile Payments Gateway
India Country Head and Division President of South Asia
President of North America and Member of Policy Committee
Age: 55
Compensation as of Fiscal Year 2014.

MasterCard International Inc. Key Developments

The Federal Circuit Court Denies SmartMetric, Inc.'s Motions in its Patent Infringement Case Against Visa Inc. and MasterCard International

The Federal Circuit Court has ruled denying SmartMetric Inc.'s motions in its patent infringement case against Visa Inc. and MasterCard International. SmartMetric disappointed with the ruling of the Federal Circuit Court in denying its motions in a ruling handed down today, is focused on moving forward into production of its world's first fingerprint activated EMV credit and debit cards targeted at the current 1.65 billion issued chip payments card market.

SmartMetric Announces Update on the Case to Be Heard in the Federal Circuit Court on August 8, 2014

SmartMetric Inc. is suing both giant payment card companies, Visa Inc. and MasterCard International for patent infringement involving the use of EMV cards in the United States. The SmartMetric patent infringement lawsuit against the payment cards companies was filed over 3 years ago with a hearing now scheduled in the Federal Circuit Court for August 8th, 2014. In its motions before the court SmartMetric is asking the court to find that Visa Inc. and MasterCard International are infringing the SmartMetric patent and that SmartMetric should be awarded a percentage of the economic benefit and value that flows from using the SmartMetric claimed and patented technology. The amount calculated by SmartMetric in earlier court filings is $13.4 billion. The SmartMetric makes fingerprint activated credit and debit cards that use biometrics to defend consumers and bank's alike from fraud. The company has added a fingerprint scanner built inside EMV payment credit and debit chip cards and uses a person's fingerprint stored inside the card to activate the cards chip following a scan and match on the card. Thereby creating a second secure layer biometric authentication protection in defending against card fraud. The company is now actively marketing its technology to card issuing financial institutions around the World.

SmartMetric Inc. Announces Patent Infringement Case Against Visa Inc. and MasterCard International

SmartMetric Inc. announced that in its patent infringement case against Visa Inc. and MasterCard International is claiming a percentage of the savings that flow from the use of EMV cards in the United States. When assessing what this amount should be SmartMetric was looking at two companies that turnover trillions of dollars a year. Taking the reduction in fraud rates that have been documented in other countries where EMV chip cards have been deployed the actual savings from fraud each year in the United States are projected in the multi billions. SmartMetric in its hearing on August 8th, 2014 before the Federal Circuit Court is asking the court to make a finding of infringement of the SmartMetric patent against both Visa Inc. and MasterCard International. SmartMetric is also asking the court to rule on the principle that SmartMetric should be awarded a percentage of the savings that flow from the use of the Smtechnology patented technology. The SmartMetric makes fingerprint activated credit and debit cards that use biometrics to defend consumers and bank's alike from fraud. The company has added a fingerprint scanner built inside EMV payment credit and debit chip cards and uses a person's fingerprint stored inside the card to activate the cards chip following a scan and match on the card. Thereby creating a second secure layer biometric authentication protection in defending against card fraud. The company is now actively marketing its technology to card issuing financial institutions around the World.

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