November, 2011
MasterCard Inc.’s chief executive on Wednesday said the network would continue to be “strategic” and “surgical” and “selective” as it seeks new transaction volume in the newly regulated U.S. debit card market. Big processor First Data Corp., meanwhile, reported the biggest increase in transaction volume by issuers in its Star PIN-debit network in at least seven quarters.
At a conference call with analysts to discuss the No. 2 payment card network’s third-quarter earnings, MasterCard president and chief executive Ajay Banga said his company is offering select merchants and merchant acquirers incentives to direct debit card transactions MasterCard’s way. “We are in a completely different competitive situation from others in the debit space and do not have the need to defend a large incumbent position,” said Banga in reference to market leader Visa Inc.
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