MasterCard

(redirected from Mastercharge)

MasterCard

(1) (MasterCard credit card) See EMV.

(2) (master card) A subject record in a punch card format. See punch card and master file.
References in periodicals archive ?
Competition for Bank of America occurred in 1967 as four California Banks formed the Western States Bancard Association and introducing the MasterCharge program that would directly compete with the existing and popular BankAmericard.
A group of credit-issuing banks also creates the InterBank Card Association, which issues MasterCharge and later becomes MasterCard Worldwide, according to MasterCard.
In 1966, the first general-purpose credit card was introduced by the Bank of America as the BankAmericard, eventually becoming known as the Visa card, and a group of credit-issuing banks joined together to form the InterBank Association and issued a general-purpose credit card that became known as MasterCharge and later as MasterCard.
association de banques, devenue plus tard MasterCharge et une des cartes
The bank's costs included computer costs incurred to keypunch and insert its customer account data into the MasterCard computer, computer service and assessment fees paid to MasterCard, advertising and promotional costs, credit bureau reports, and travel, education, and entertainment expenses of employees reimbursed by the taxpayer for attendance at MasterCard meetings held to motivate the employees and familiarize them with the MasterCharge system.
(My favorite example was Citibank's mid-1970s antitrust case against the MasterCharge joint venture, to enjoin it from issuing traveller's checks, a market in which Citibank--a leading MasterCharge issuer--was a major player.
(My favorite example was Citibank's mid-1970s case against the MasterCharge joint venture to enjoin it from issuing traveler's checks, a market in which Citibank--a leading MasterCharge issuer--was a major player.
These were the days when banks sent credit cards out in the mail, unsolicited, and my father tried to stay afloat by grabbing on to these sandbags, paying off one with the other, BankAmericard with Mastercharge, Chase with Manufacturers Hanover.
And, by the way, we accept both Visa and Mastercharge. MB: It seems like there are some built-in conflicts between getting the best possible price, while also clearing these S&Ls and their assets off your books quickly to meet your three-year deadline?
In the mid-1960s, Bank of America and Interbank began licensing their credit cards--BankAmericard (later VISA) and Mastercharge (later MasterCard) -- to other banks to gain a competitive edge over the cards already being issued by major department stores.