Master card as the only global payment association Essay
Master card as the only global payment association, 498 words essay example
Master card international is a global payment company. Master card is only payment association to actively support all major chip platforms. It committed to creating a universal platform/infrastructure that will make it easier for users to issue multi application cards.
Data Ware House is a system which is used to access the analyzed data. In this business competitive world data ware house is also known as enterprise data ware house, the major use of data ware house is reporting and data analysis. Data ware houses are the central depositaries of integrated data from many sources. The data ware house project may loom large in number up coming years.
By using data ware house, Master card increases the number of customers by satisfying theirs requirements. Master Card has a mound data warehouse. Initially using a popular tool Master Card marketing center analyzes the customer views and needs through their repeated transactions from the bulk storage. They mine these repeated data and update to the customer's requirement. However, by satisfying the customer interest, the card holders can be raised. Even by rendering some offers like credit card, debit card, smart card, prepaid cards, so on to access the transaction. It should also have good business partners to satisfy the customers by announcing attractive offers which are beneficial to the customers. They offer customer advanced access to new products, free merchandise or some special sale coupons. Master cards should be accessed all over the world.
Master card smart data confines a reporting tool which helps to turn data into business intelligence with specialized templates, HTML layouts, advanced options, to create and export reports in different formats.
Tap and go cards are also named as way to pay, tap to pay or contactless cards, which contains a computer chip and antenna. The technique behind this process is sending the data tirelessly to nearby service. The type of tap and go payment application is contactless payment it is a technology which makes everyday purchases faster with just a tap. It is a device which shows the universal contactless symbol. It is also accepted in all kinds of merchants, retail stores, restaurants and some individual stores. It is safe and secure which protects transaction data, and even degrades the risk of card loss.
There are different growth trends that access. They are
The appearance of financial mobility.
Payments had become more invisible.
E-Commerce among developed business.
Normally general payments require "Cardholder Verification Method (CVM)" nothing but accessing through PIN number or signature. The Contactless CVM Limit is not required for low-value contactless payment, the user can easily access through "tap and go". From country to country, the Contactless CVM limit varies accordingly.
MasterCard pay pass digital wallet is a new technology for payment mechanism, though it has many advantages and few disadvantages. Master card pay pass is convenient way of payment mechanism with few numbers of clicks, where pay pass is already pre-loaded with all the credentials so the no others can view credentials.