Mastercard Member Banks Barred from Offering Competing Cards
Christian Plumb Bloomberg Business News, THE JOURNAL RECORD
NEW YORK -- Mastercard International Inc. broke with its historic practice, joining Visa International Inc. in adopting a policy barring banks that issue its cards from offering American Express or other competing cards.
Visa, the other major bank credit card association, has had a similar policy since 1991.
Mastercard's board voted the ban two months after American Express Co. went public with a year-long, so far unsuccessful, effort to convince banks to issue its charge and credit cards.
"The (Mastercard) global board has been looking at this issue for some time but this specific policy was in response to the American Express policy inviting member …
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Publication information: Article title: Mastercard Member Banks Barred from Offering Competing Cards. Contributors: Christian Plumb Bloomberg Business News - Author. Newspaper title: THE JOURNAL RECORD. Publication date: July 8, 1996. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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