MasterCard is ranked third highest level of cash in the Data Processing and Outsourced Services Industry behind Visa and MoneyGram International with $2.88 billion.
SunTrust will convert the company's debit card programs to MasterCard. After the conversion to MasterCard-branded debit cards, SunTrust will issue five million MasterCard debit cards usable everywhere MasterCard debit cards are accepted. SunTrust also plans to expand its current commercial card offering to include MasterCard branded credit cards.
MasterCard Inc. declared a quarterly cash dividend of 15 cents per share to holders of shares of its Class A and Class B common stock. The cash dividend will be paid on February 10, 2010 to holders of record of such common stock as of January 8, 2010.
MA acquired Orbiscom for upwards of $100 million. Orbiscom creates electronic payment projects for financial institutions. The move will help MA follow up its 2008-released payment method Mastercard InControl.
Orbiscom is a Dublin-based software firm that provides electronic payment software for major financial institutions. The move will cost MA upwards of $100 million, but will help them follow up with the success of their 2008-launched payment method -- Mastercard InControl.
MasterCard earned $322 million in the third quarter. Net revenue also increased 24 percent to $1.34 billion from $1.08 billion. The increases were caused by pricing strategies and agressively cutting expenses.
MasterCard reported a 63% rise in 3rd quarter profits to 314 million USD, beating analysts' estimates.