Oct 14

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MasterCard to comply with new rules and remain in Russia – CEO (RT, Oct 13, 2014):

The MasterCard international payment system will continue operating in Russia and comply with the new rules set out by the Central Bank of Russia, CEO Ajay Banga has said.

We have intentions to remain in Russia,” TASS quotes Ajay Banga the President and Chief Executive of MasterCard.

My approach is that we will follow the new rules. The law requires a partnership with the Central Bank of Russia. We think, this is reasonable for Russia,” he said. Continue reading »

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Mar 27

Related info:

Visa, Mastercard Block US-Sanctioned Russian Banks


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Russia To Create Own National Payment System In “Bid To Reduce Dependence On The West” (ZeroHedge, March 27, 2014):

The more the West attempts to “isolate” Russia and pushes it away from its “core values” and of course the US Dollar, the more Russia will seek the safety of a non-dollar based system. We have previously described how Putin has been scrambling to enmesh Russia in tight bilateral commodity-based trade with both China and India, and now it is Russia’s turn to announce it would seek its own “national payment settlement system” following last week’s surprising and unmandated service halts by both Visa and MasterCard, which as Vladimir Putin said earlier today, will be a “bid to reduce economic dependence on the West.”

Continue reading »

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Mar 22

Mastercard-Visa

– ​Visa, Mastercard block US-sanctioned Russian banks (RT, March 21, 2014):

International payment system Mastercard has stopped serving clients of seven Russian lenders, after the US issued sanctions against it regarding Russia’s position over the Ukrainian turmoil.

Rossiya Bank was blocked by both – Master Card and Visa, and with the latter also cutting ties with Sobinbank, SMP Bank and Investcapitalbank.

Seven Russian banks are involved in the suspension, according to Timur Batyrev, the head of the national payment system department at the Central Bank of Russia.

The blockade came without warning, Rossiya bank said. Continue reading »

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Oct 04

Related info:

Hackers Breach iPhone 5S Fingerprint Security


MasterCard joining push for fingerprint ID standard (USA Today, Oct 2, 2013):

The addition of MasterCard will help FIDO expand its standard to more types of transactions. The company’s experience handling the multitude of existing payments industry standards will also be valuable.

SAN FRANCISCO — MasterCard is joining the FIDO Alliance, signaling that the payment network is getting interested in using fingerprints and other biometric data to identify people for online payments.

MasterCard will be the first major payment network to join FIDO. The Alliance is developing an open industry standard for biometric data such as fingerprints to be used for identification online. The goal is to replace clunky passwords and take friction out of logging on and purchasing using mobile devices.

Apple’s new iPhone 5s smartphone has a fingerprint sensor, but the tech giant is not part of FIDO. However, Google is part of the Alliance, and devices running Google’s Android operating system will have fingerprint sensors by next year.

Continue reading »

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