Mastercard Member Banks Barred from Offering Competing Cards

By Christian Plumb Bloomberg Business News | THE JOURNAL RECORD, July 8, 1996 | Go to article overview

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 banks to participate in its network," acknowledged Mastercard spokesman Sean Healy.

The Mastercard ruling applies only to cards issued in the United States, and the board doesn't plan to issue any similar non-compete rule for its member banks outside of the U.S, Healy said.

Last month, the Justice Department launched a probe of the Visa ban, which Visa was forced to cancel for banks in Europe, after a European Union official called it "unacceptable."

Justice Department spokesman Gina Talamona wouldn't say whether Mastercard will be added as a target of the probe. Healy declined to comment on whether Mastercard officials were concerned about the Justice Department inquiry.

Visa's five-year-old prohibition has made it difficult for American Express and Discover card issuer Dean Witter Discover & Co. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Mastercard Member Banks Barred from Offering Competing Cards
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.