News | Latest Breaking News Stories & Headlines

Mastercard cuts 4% of global staff, no word on Irish unit

Mastercard has today beaten Wall Street expectations for fourth-quarter profit, as resilient spending on travel, leisure and everyday essentials boosted transaction volumes for the payment processor.

Business • 30 Jan

Visa, Mastercard's revised swipe-fee deal with merchants

Visa and Mastercard have announced a revised settlement with merchants who accused the card networks of charging too much to accept their credit cards, after a judge rejected an earlier $30 billion accord as inadequate.

Business • 10 Nov 25

EU ministers reach 'compromise' on digital euro roadmap

European Union finance ministers have today agreed on a roadmap for launching a digital euro currency that aims to become an alternative to the now dominant US-based Visa and Mastercard systems.

Business • 19 Sep 25

The EU competition enforcer's scrutiny started in September as a result of complaints from merchants and payments companies about Visa and Mastercard's fees

EU widens probe into Visa and Mastercard fees

EU antitrust regulators have widened their investigation into Visa and Mastercard's fees as they seek feedback from terminal providers and payments companies that could lead to charges of anti-competitive practices, according to a European Commission document seen by Reuters.

Business • 26 May 25

The global payments processor was facing a lawsuit brought by consumer champion Walter Merricks on behalf of approximately 46 million adults in the United Kingdom.

Mastercard to settle London lawsuit over card fees

Mastercard has reached an agreement in principle to settle a collective London lawsuit brought on behalf of British consumers over card fees, it said today.

Business • 03 Dec 24

Mastercard said its profit rose 2% to $3.3 billion for the three months ended September 30

Mastercard's profit beats estimates on resilient spending

Payments processor Mastercard has today reported a better-than-expected profit for the third quarter, as customers encouraged by economic stability ramped up their spending.

Business • 31 Oct 24

Payments firms are benefitting from resilient spending in the US

Mastercard profit up on strong spending by US consumers

Mastercard's first-quarter profit jumped on strong card spending as US consumers kept up their splurging habits despite rising borrowing costs and persistent inflation.

Business • 01 May 24

Visa and Mastercard have reached an estimated $30 billion settlement to limit credit and debit card fees for merchants

Mastercard, Visa reach $30 billion settlement over fees

Visa and Mastercard today reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices.

Business • 26 Mar 24

Rich Haythornthwaite will succeed Howard Davies as the NatWest chair in January

NatWest names Haythornthwaite as new chairman

NatWest has chosen former Mastercard chairman Rick Haythornthwaite as its next chair, the bank said today as it seeks to contain the fallout from a row with former Brexit party leader Nigel Farage.

Business • 06 Sep 23

Financial details about the plan were not disclosed.

Mastercard launches global plan to recycle credit cards

Payments company Mastercard has launched a global project to recycle credit and debit cards as part of a plan to save the billions of cards in circulation across the industry from landfill.

Business • 21 Jun 23

President Biden said Ajay Banga had made combating climate change and the green transition a priority

US to nominate former Mastercard CEO to lead World Bank

US President Joe Biden has said that Washington is nominating former Mastercard chief executive Ajay Banga as a candidate to lead the World Bank, after its current head announced plans to step down early.

Business • 23 Feb 23

Mastercard has reported fourth-quarter profit ahead of estimates

Mastercard predicts downbeat revenue growth on slowdown

Mastercard's current-quarter revenue growth forecast fell short of Wall Street estimates, fanning fears that the card company was heading into a much tougher environment in 2023 as the economy loses steam.

Business • 26 Jan 23

Mastercard said cross-border volumes jumped 58% on a local currency basis in the April-June quarter

Mastercard tops profit estimates on travel spend boom

Mastercard sailed past market estimates for quarterly profit today as a surge in cross-border spending sparked by this year's travel boom more than offset higher costs.

Business • 28 Jul 22

Dublin retail spending fell in the first quarter of this year, new data show today

Dublin Economic Monitor flags recession fears

The latest Dublin Economic Monitor shows that the leading indicators for the city's economy hint that a recession is an increasingly realistic possibility.

Business • 17 Jun 22

Mastercard's new Tech Hub is located at South County Business Park in Leopardstown in Dublin

Mastercard opens European tech hub in Dublin

Mastercard has opened a new European Technology Hub in Dublin.

Business • 07 Apr 22

The move could mean further disruption for Russians

Visa and Mastercard suspend operations in Russia

US payments firms Visa and Mastercard are suspending operations in Russia over the invasion of Ukraine, and have said that they will work with clients and partners to cease all transactions there.

Business • 06 Mar 22

Visa and Mastercard block multiple Russian financial institutions from their networks

Visa, Mastercard block Russian financial institutions

Payment card firms Visa and Mastercard have blocked multiple Russian financial institutions from their network, complying with government sanctions imposed over Moscow's invasion of Ukraine.

Business • 01 Mar 22

Spending contracted for necessities and discretionary items like clothes on a quarterly basis.

Overall Dublin retail spend rises, some sectors dip

Retail spending in Dublin recorded further growth in the final quarter of last year, as consumer demand remained strong in most sectors.

Business • 28 Jan 22

The Mastercard class action case could entitle adults in Britain to £300 each if it is successful

UK Supreme Ct enables class action against Mastercard

The UK Supreme Court has today allowed a £14 billion class action to proceed against Mastercard for allegedly overcharging more than 46 million people in Britain over a 15-year period in a landmark judgment.

Business • 11 Dec 20

As part of the new service, PayPal is also offering unlimited cashback for Irish business account holders

PayPal launches its first business debit card here

PayPal has launched its first Business Debit Mastercard in Ireland, which offers business customers instant access to their available PayPal funds or PayPal balance for online and in-store business purchases.

Business • 23 Sep 20

Mastercard today reported a 45% drop in cross-border volume

Mastercard profit tops estimates despite Covid hit

Mastercard's quarterly profit beat Wall Street estimates today, as lower costs helped dull the blow from fewer people using the payment processor's cards during the Covid-19 pandemic.

Business • 30 Jul 20

The Finitcity deal will help Mastercard strengthen its open banking services

Mastercard to buy technology firm Finicity for $825m

Mastercard said today it would buy Finicity in a deal valued at $825m, adding a fintech firm that helps banks share customer data with other financial firms.

Business • 23 Jun 20

Wirecard's former CEO Markus Braun was arrested on suspicion of market manipulation

Wirecard CEO to be released on bail of €5m

Wirecard's former boss has been arrested on suspicion of falsifying its accounts, after the German payments firm disclosed a €1.9 billion financial hole and questioned whether trustees had actually held money on its behalf.

Business • 23 Jun 20

The European Commission said it has accepted a request from Austria, Denmark, Finland, Norway, Sweden and Britain to take over the case

EU Commission to examine Mastercard-Nets deal

Mastercard's bid for a part of Scandinavian payments group Nets is a significant threat to competition in Europe, the European Commission said today after it was asked by six national competition agencies to examine the deal.

Business • 06 Apr 20

Dublin will become Mastercard's Technology Hub for Europe

Mastercard to create 1,500 jobs in Dublin

Mastercard is to create 1,500 jobs in Ireland over the next three to five years.

Business • 24 Feb 20