When MasterCard WorldWide's chief innovation officer, Garry Lyons, launched MasterCard Labs two years ago, his approach to hiring was anything but conventional. Lyons began by recruiting talented people who didn't know anything about the payments processing business. "If you know too much about a particular domain, you end up saying 'that won't work' or incrementally improving something." And that, Lyons says, won't lead to the kind of innovations that bring disruptive change to the business. "Our goal is to get next-generation payment solutions into the market faster and cheaper than ever before," he adds.
MasterCard Worldwide - News, Features, and Slideshows
MasterCard is testing new ways to make online transactions more secure with its PayPass application and a mobile phone, including using QR codes to secure the transactions.
Major Dutch banks ING and ABN Amro will introduce MasterCard PayPass contactless payment cards to their customers by mid-2013, making the Netherlands the largest PayPass debit card country in Europe, MasterCard announced on Wednesday.
MasterCard WorldWide on Thursday announced a program to help companies go green by capturing and analyzing travel related carbon emissions based on card transactions.