The MasterCard company was founded in 1966 in the United States, expanding to Mexico, Europe and Japan in 1968. Further expansion saw the company establish a presence in China and other countries.
Today, MasterCard is a major processor of payments between issuing banks and credit unions and the consumers who use its cards. The company deals with electronic payments and also offers financial consulting services to individuals and businesses.
When the company was founded in 1966, its name was Interbank/Master Charge. It was founded to compete with the Visa corporation. Today, these two companies are some of the largest credit card companies in the world.