Full-Time
Confirmed live in the last 24 hours
Facilitates secure digital payment transactions
$112k - $187kAnnually
Senior, Expert
Company Historically Provides H1B Sponsorship
O'Fallon, MO, USA
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Mastercard operates in the payments industry, focusing on building an inclusive digital economy. The company connects people, financial institutions, governments, and businesses through secure data and networks. Mastercard facilitates transactions by charging fees to merchants and financial institutions for processing payments. It serves a wide range of clients across over 210 countries and territories, aiming to make transactions safe, simple, and accessible. By leveraging partnerships and technology, Mastercard drives growth and sustainability. A key aspect of its culture is the decency quotient (DQ), which shapes its operations and interactions.
Company Size
10,001+
Company Stage
M&A
Total Funding
$9M
Headquarters
Harrison, New Jersey
Founded
2007
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New Parent Leave
Inclusive Family Building Benefit
Employee Family Resource Program
Bereavement Leave
Dependent Scholarship
Employee Assitance Fund
Business Resource Groups
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Flexible Work
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Matching Charitable Gifts
A London court approved a settlement in a class action lawsuit brought against Mastercard over its swipe fees.By approving the deal, the Competition Appeal Tribunal rejected a challenge by the litigation funder, Innsworth Advisors, which alleged that the settlement undervalued the claim, Bloomberg reported Friday (Feb. 21).The 200-million-pound (about $253 million) settlement was reached in a case that was originally estimated to be worth 10 billion pounds (about $12.6 billion), according to the report.The judge said the settlement “is being approved subject to finalization” of the details, per the report. A formal order will follow, the report said.Mastercard and consumer advocate Walter Merricks announced an agreement in principle to settle the lawsuit during a Dec. 3 hearing before the Competition Appeal Tribunal.The lawsuit was filed in 2016 by Merricks, who is a former financial ombudsman, and alleged anticompetitive card fees. It accused Mastercard of overcharging close to 60 million British residents over the course of 16 years.Merricks claimed that the company charged exorbitant “interchange fees” — which retailers pay credit card companies when consumers shop with that card — and that those fees were passed on to consumers in the form of higher retail prices.Mastercard countered that consumers derived valuable benefits from its payment technology.When the settlement was announced in December, Merricks said: “I am very pleased that after nearly nine years of litigation with Mastercard, I have agreed to a settlement that I believe will deliver meaningful compensation to class members who choose to come forward to participate in the distribution of the damages.”A Mastercard spokesperson said at the time: “We are pleased to have reached an agreement in principle to put this case behind us.”However, the proposed settlement soon faced scrutiny from the case’s funder and faced criticism, as it raised concerns over the future of class action funding in the United Kingdom.Innsworth Capital argued that the settlement was unfair, given that it spent over 45 million pounds (about $57 million) funding the legal battle. Innsworth will receive its legal costs, plus an additional 55 million pounds (about $70 million) from the payout, which it deemed insufficient in light of the resources it committed to the case
Earnings season, like clockwork, offers up a dizzying mosaic of data and qualitative analysis of revenues, profits (or lack thereof) and high-level views of the economy. The state of the consumer also comes into focus. In taking stock of what banks, payment networks and digital-only platforms have shown in their earnings reports, supplementals and on the conference calls, a few key trends stand out — from the technology consumers use to make payments in an omnichannel world, to the pressures they face as they grapple with debt. Contactless Gains Favor in-Store
Mastercard has launched credit and debit cards designed for creators and small business owners.The new Business Builder cards feature Mastercard’s core small business benefits like Easy Savings, ID Theft Protection, Zero Liability and access to Digital Doors, the company said in a Thursday (Feb. 20) press release.Easy Savings offers businesses rebates on everyday expenses; ID Theft Protection guards against, detects and resolves identity theft cases; Zero Liability protects against unauthorized transactions; and Digital Doors helps businesses set up shop online, according to Mastercard’s website.The Business Builder card program also offers access to Tailor Brands’ entity formation and business building tools, Uome’s super app featuring business management and payment solutions, Cyvatar’s cybersecurity services and Dun & Bradstreet’s credit building insights, according to the release.In addition, Mastercard launched a catalyst program for creators that educates them on how to start and run a business as a solopreneur, shares marketers’ and brands’ insights on partnerships between creators and brands, introduces connections to other brands, and provides access to tools and resources like Mastercard’s Small Business AI, per the release.Small Business AI, which is currently in beta and available only for U.S. users, is designed to guide small business owners through the process of ideating, starting, maintaining and growing their company, according to the Mastercard website.“With the Mastercard Business Builder program and the catalyst for creators, we continue to help our customers and partners serve small businesses through the entirety of their journey, from their first sale to global scale,” Mike Kresse, executive vice president of North America commercial and new payment flows at Mastercard, said in the release. “We’re providing a powerful foundation that makes entrepreneurship more accessible and achievable, helping small businesses and creators transform their passions into enduring success stories.”The creator economy landscape is rapidly evolving, with platforms and companies vying to support independent creators in monetizing their work and achieving financial stability, PYMNTS reported in May.Mastercard introduced a platform called Mastercard Biz360 in November, saying it helps financial and service providers offer their small business customers a way to consolidate the digital tools they use to run and grow their businesses
Mastercard introduces a new credential system for multiple scheduled checkout options.
The middle market continues to draw the attention of payments and banking companies, with Mastercard announcing a package of digital and financial management tools aimed at that segment on Tuesday (Feb. 18).Called the Mastercard Mid-Market Accelerator, the suite of solutions is aimed at companies with annual revenues between $10 million and $100 million or about 50-250 employees. It will assist banks and FinTechs in catering to their lower middle-market clients. The offering, which will initially be available in the U.S. before scaling globally, combines Mastercard’s digital payment technology and value-added services with features from partners that offer transparency, automation and security.According to Mastercard’s Jane Prokop, EVP and global head of small and medium-sized enterprises, the Accelerator will provide a flexible mix of solutions that financial providers can customize to meet the needs of middle-market customers.Mastercard is collaborating with issuers such as Citizens and FinTech providers such as Navan (expense management) and Trovata (cash flow management). The new Mastercard business card is part of the middle-market package and offers a selection of Mastercard card benefits from existing small business and commercial card programs, as well as new rewards