There is a lot being said about the sharing economy at the moment, and conveniently last month Mastercard released a whitepaper The Sharing Economy: Understanding the Opportunities for Growth. I was reading it last night on the train back from London and in this post will share my notes. There are countless definitions of the sharing economy. Mastercard indicate that the natural instinct to share with one another combined with new technology that enables that sharing to happen in unprecedented ways will ensure that the sharing economy is here to stay. "..a socio-economic ecosystem that empowers people to share underutilised assets directly with others."
Samsung is collaborating with Mastercard on a biometric scanning payment card with a built-in fingerprint reader, Samsung has announced. The technology appears to be similar to Mastercard's biometric payment cards unveiled in 2017 that let you authenticate purchases with without ever touching a keypad. However, Samsung said the cards "will adopt a new security chipset from Samsung's System LSI Business that integrates several key discrete chips," rather than using Mastercard's current tech. The aim is to increase security while reducing physical contact points, as your fingerprint is scanned directly from your own card and not an external point-of-sale (POS) device. However, the card is compatible with Mastercard's authentication tech, as it can be used at any Mastercard chip or POS terminal. By way of comparison, the Apple Card is designed mostly to be used on a smartphone, but Apple does issue a physical titanium card with your name laser etched onto it.
A Visa spokesperson responded: "Visa enables millions of merchants throughout the UK to access the benefits of digital payments, giving them the ability to reach billions of potential customers both in their local communities and across the globe. Visa has delivered to UK consumers some of the most secure and innovative payments solutions available anywhere in the world."
Mastercard announced its extended commitment to the Olympique Lyonnais (OL) women's team by becoming Official Shirt Sponsor for domestic games in the season starting September 2020. The company will also be using their Priceless platform to create memorable moments for fans in a time where typical fandom activities, like attending live games, are less likely. The pandemic has had a ripple effect across the world of sports and entertainment--with the financial impacts affecting women's sports teams more heavily than their male counterparts. Mastercard has doubled down on its commitment to the women's OL team to ensure fans and players have opportunities to connect to their passion of football during these more difficult times. "We're pleased to extend our partnership with Olympique Lyonnais – it's a natural fit for us to work with these amazing athletes and highlight their accomplishments on and off the field to inspire the many generations to come," says Raja Rajamannar, Chief Marketing and Communications Officer, Mastercard.