Card issuer MasterCard has taken an equity stake in financial engagement firm First Performance Global in an attempt to improve self-service tools for cardholders.
MasterCard has expanded its intellectual property relationship with First Performance, allowing it to control the company’s ability to offer payment card issuers and processors self-service tools.
‘‘The way people shop and pay is continually changing through new technologies. Solutions like these complement platforms like MasterPass and EMV in delivering cardholder both a better shopping experience and peace of mind in the protection of their accounts,’’ said Geoff Iddison, executive vice president, strategic partnerships, MasterCard.
First Performance announced the collaboration after enjoying an already successful relationship with the payment giants.
Its relationship with MasterCard stretches back to 2014, when First Performance used MasterCard’s platform to allow cardholders to personally make decisions about when to “turn on” and “turn off” their credit and debit cards.
‘‘We have enjoyed a great relationship with MasterCard. The expansion of our intellectual property relationship on a global basis is an exciting opportunity for our company,’’ said A. Wayne Johnson, First Performance CEO and Executive Managing Director.
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