How they describe themselves: MasterCard (NYSE: MA) is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
How they describe their product/innovation: The Dual Value Health Card combines the MasterCard payment network with InComm’s closed-loop payment system. The Dual Value Health Card can be swiped at the point of sale (POS) and routed to an open-loop or closed-loop processor, allowing the cardholder to offer payment on eligible items while simultaneously receiving targeted incentives, all in real time and right at the POS.
Product Distribution Strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, & licensed