Mastercard Current Affairs, GK & News

World’s First “Crypto-Backed” Payment Card

April 20, 2022

Crypto lender Nexo has collaborated with Mastercard to launch the world’s first “crypto-backed” payment card. This launch has signaled the move by financial and crypto networks to collaborate as digital assets are becoming more mainstream. Overview: Initially, the card will be available in selected European countries. It will allow users to spend without selling their ..

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Suspension of Card Services in Russia

March 8, 2022

Due to US sanctions imposed on Moscow as a result of the ongoing crisis in Ukraine, American card network operators Mastercard, Visa, and American Express have suspended their services in Russia. Overview: Any cards that have been issued globally by banks on these networks will not work in Russia at point-of-sale terminals or ATMs as ..

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HDFC Bank, Mastercard, USAID commit $100-mn credit facility

October 22, 2021

HDFC Bank, Mastercard and USAID have committed $100-mn credit facility with the aim to expand lending to small businesses. Key Points New credit facility will help small businesses that require financing for maintaining and growing their operations. The credit facility will also enable recovery by means of digitisation. It emphasises on providing support to women-led ..

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Razorpay- Mastercard launch MandateHQ payment interface

July 8, 2021

Payments solution provider Razorpay has partnered with Mastercard to launch ‘MandateHQ’. Key Points MandateHQ is a payment interface that will help card-issuing banks to enable recurring payments for customers. Razorpay aims to integrate MandateHQ with more than 50 banks in 12 months. In addition to Mastercard, Razorpay has also collaborated with three banks. It is ..

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Mastercard-Instamojo tie up to assist MSMEs, Gig workers

June 29, 2021

Mastercard announced a strategic equity investment in Instamojo on June 28, 2021. Key Points Investments in India’s largest full-stack digital solutions provider, Instamojo, is aimed at empowering MSMEs and gig workers. Empowerment will be done by providing easy to use solutions which will help them to rapidly digitize. It will help in setting online stores, ..

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