Mastercard Pushes Brazilian Processors to Split Banco Master Losses

Mastercard is asking some of Brazil’s largest payment processors to pay half the cost of its losses from the failure of Banco Master , Bloomberg reported Friday (May 22). Banco Master’s FinTech Will Financeira issued cards that used Mastercard’s network, and Will’s collapse left Mastercard on the hook to reimburse merchant acquirers that processed about 5 billion reais (about $997 million) of cardholder payments, according to the report. Mastercard has paid about half that amount and is proposin