Mastercard Payment Network

Mastercard began its journey in 1966 as the Interbank Card Association (ICA), created by a group of regional bankcard associations as a competitor to BankAmericard (which later became Visa). Headquartered in Purchase, New York, it has evolved from a traditional credit card company into a global technology powerhouse in the payments industry.

Today, Mastercard acts as a payment infrastructure provider rather than a direct issuer of cards. It facilitates electronic funds transfers between the banks of merchants and the banks that issue cards to consumers. The company operates one of the most sophisticated payment networks in the world, processing transactions in over 210 countries and territories. Its business model focuses on licensing its brand and providing the core security and data networking requirements to financial institutions globally.