CEO: Ajaypal Singh Banga
Based in: New York, US
Founded: December 1966
Best known for: Credit and debit cards
Traded on: NYSE
0'>MasterCard is a financial services company that’s best known for its credit, debit and prepaid cards. The business makes its money by connecting consumers and merchants – processing purchases made by shoppers and delivering the funds to the company’s bank.
The MasterCard company is a long-running rival of 0'>Visa, and it was established in the 1960s as a direct competitor. In previous iterations, it was known as Interbank and Master Charge.
As for MasterCard share price history, its origins can be traced back to May 2006, when the payments giant had its initial public offering. The company managed to raise $2.4bn at $39 a share – and although it was the biggest IPO seen in the US for two years, its size fell short of expectations because of legal issues. Compare that with Visa’s performance in 2008, when it raised $17.9 billion. MasterCard shares have had a steady uptick in recent years and are worth about seven times more than they were at the time of flotation.
Thirteen years after launching as Interbank, the MasterCard name is born
MasterCard became the first payment card to be issued in China
The company’s famous “Priceless” slogan is used for the first time
A merger between MasterCard and Europay International takes place
MasterCard begins trading on the New York Stock Exchange