In this article, We are revealing some interesting and surprising facts about one of the most recognizable brands in the world – MasterCard. In 1966 a group of banks formed the International Card Association which became mastercharge in 1969 ten years later the name was changed to MasterCard and the brand name became a dominant force in the market in the 1990s they launched the world’s first global online debit program and their effective priceless campaign was introduced in 1997 MasterCard says that despite popular opinion they don’t issue cards but are actually a technology company that enables secure transactions between merchants banks and card holders.
In more recent years MasterCard has been evolving in order to meet the modern demands of their users and to compete with digital payment services like PayPal for example the company spent 170 million dollars on advertising in the first quarter of 2017 to support the rollout of their new digital wallet service master pass they also acquired artificial intelligence company bright tirion in August 2017 despite all their efforts they have not been able to come close to overtaking their biggest rival Visa which claims over 50% of the market share in the global payments market
1. Over 65,000 transactions are processed every minute each transaction is processed in just 130 milliseconds which is twice as fast as the blink of an eye an average of 65,000 sixty-eight transactions are processed every minute and the network handles twenty four point five billion instructions every
2. They changed their logo for the first time in 20 years in 2016 in an effort to modernize the brand and optimize it for more digital purchases MasterCard decided to change the logo that the company has had for the past 20 years in 2016 the new logo does not veer drastically from the old one since MasterCard wanted to maintain their strong brand identity so they kept some of the recognizable features that have been a part of their logo since 1968 the same the interlocking circles the red and yellow colors and the MasterCard name the brand name has moved below the circles with all lowercase letters because MasterCard wanted to de-emphasize the card part of their name to symbolize the evolution of digital payment this is the fourth time.
3. The magnetic strip holds three tracks of information the magnetic strip on the back of all master cards holds three different tracks of information the first track contains your name expiration date card type and other personal data like your pin or credit limit the second track holds your account number and start date and the third track holds information for ATM.
4. There are seven hundred and eighty seven million master cards worldwide as of the second quarter of 2017 there are a total of seven hundred and eighty seven million master cards in circulation worldwide 204 million of these are in circulation in the United States alone more than one point nine billion master cards have been issued in the history of the company which is more than the populations of Russia, India, Japan and Mexico combined.
5. MasterCard was the first company to use Holograms to combat counterfeiting the Holograms used on credit cards are made up of multiple layers of images that are taken from different angles and stacked on top of each other this prevents counterfeiting because multiple images cannot be scanned by an optical computer scanner or copied by a photocopier the technology is now used on multiple items like passports expensive electronics banknotes and more but MasterCard was the first to introduce the technology.