Visa and MasterCard have grown into payment card icons, with banks around the world issuing cards with their internationally recognised brands. The latest phase in their development began with their initial public offerings (IPOs), which transformed them from bank-owned associations into public companies, and now they face the challenges of a payments landscape that has witnessed rapid growth in e-commerce, mobile payments and emerging markets.
Their brands may be synonymous with cards, but Visa and MasterCard have adapted to the new payments environment, along with the changes to their governance and ownership.
