MasterCard
Definition
Worldwide credit card corporation that works with financial institutions to issue credit cards. The credit cards distributed by the company are done so under the MasterCard brand, which is one of the three major credit cards accepted at vendors across the world. The credit provided to card holders is controlled by the financial institution that issues the card and not MasterCard. MasterCard converted from a privately held company to a public company on May 25, 2006.
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