The evidence will show that Visa and MasterCard refused to play by the rules of fair competition, rules which are the foundation of our American system of free enterprise.
Quotes about mastercard (16 Quotes)
MasterCard strongly disagrees with the majority opinion issued yesterday by a panel of the Second Circuit Court of Appeals upholding the grant of class certification in the merchant antitrust action.
Visa, MasterCard and their member banks have agreed not to issue cards on smaller, competing credit-card networks such as Discover and American Express. These exclusionary rules deny consumers the ability to choose among a variety of credit-card products.
MasterCard is proud to be associated with Arnold Palmer, a man who has done so much not just for the game of golf but for the Orlando community. We look forward to many more priceless moments both on the course and at the Arnold Palmer Hospital for Children.
There has to be a few widely accepted cards -- kind of the Visa and MasterCard of the identity world -- and it's not clear that anyone wants that job.
Payment associations have market power because they are owned and controlled by groups of banks. The public MasterCard would have independent directors and a governance system that would make it clear that it would not be attempting to collude in setting an interchange fee.
Don't be sad for me. Please don't be sad for me. This is like the MasterCard commercial. You know, it's priceless what God has given me to be the head basketball coach here.
My eye muscles hurt now when I read our MasterCard bill.
Our rental business stays very busy. And we don't require a Visa or MasterCard.
The penalty for any bank that decides to issue cards on the Discover or American Express networks is severe. Visa and MasterCard rules are clear. They will throw banks out of their network, thus having the effect that banks must exit the retail banking business.
The success of the banks' legally suspect practices has given them tremendous market power. Merchants have no choice but to accept Visa and MasterCard products on the sellers' terms. Otherwise they lose customers and sales.
It does not matter what share of the market it covers but how good the composition is, and for someone like MasterCard, it is safe to assume this condition is satisfied.
The 'Honor All Cards' policy says if you're a retailer and you take my credit card, then you have to take my debit card. Then whatever new product I come out with, you're forced to take all of these additional cards. It's a classic tying arrangement. Visa and MasterCard have attempted to monopolize the debit card market, and one of the ways is through these tying arrangements.
MasterCard International has always worked aggressively to identify and eliminate any illegal activity involving the use of its global payment network, including child pornography. The systems and processes we have developed to combat the use of payment cards for any illegal activity, including our ongoing involvement with global law enforcement communities, provide us with some excellent tools and resources to help eliminate what has sadly become a complex and growing industry based on the exploitation of children around the world.
The decision in no way relates to the merits of the case. We remain confident that our position will prevail and that consumers will not be disadvantaged by the efforts of class action lawyers to impede the ability of cardholders to use their MasterCard cards wherever MasterCard is accepted.
Besides getting the MasterCard business by this acquisition, we also get MasterCard as a strong reference in the payments systems market.