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- Mastercard Inc. said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of its cards will have the technology. In 2020, more than 72% of U.S. card-present transactions were made with chip cards, according to EMVCo, which maintains EMV standards.
- Chargezoom, a business-oriented billing and automation platform, and Maverick Payments announced a deal that enables Chargezoom clients access to more payment gateways and Maverick clients access to the Chargezoom platform.
- Centime, a cash-flow management fintech, said it has joined Visa Inc.’s Fast Track program to accelerate the process of integrating with VisaNet, Visa’s global payments system.
- Pharmacy chain Walgreens launched its myWalgreens credit card program, issued by Synchrony Bank and featuring a private-label card as well as a Mastercard-branded card.
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