Credit its users to rely on technology to

Credit cards has brought the major evolution in the peoples lives since the last decade.They have made the life of people much more easier by not making them not to carry cash in hands and it also became a major business for many banks. The Credit card business made alive by using big data. Since all the Credit cards work by warehousing the data. Mastercards aim is to give access of their customers information directly  to the corresponding  banks  and also the tools to manage the information which is possible by using BIg Data. Many organizations are working hard to understand  the opportunities and challenges corresponding with “big data” . This global data changed itsidentity into Business Intelligence that allows all the credit card  management services and its users to rely on technology to manage the data.MasterCard has accumulated a data warehouse that is greater than 800000gb in size and company experts expect that there will be an substantial increase of  more than 1.8 petabytes. The advancement of MasterCard’s information repository is intensed by a client/server network that, on average, manages 140 million credit card transactions in an hour on behalf of more than 25,000 financial institutions WALL08. In 2007, MasterCard’s worldwide network operated 18,700 million transactions totaling approximately $2300 billion.Even though visa card is big win in the business field master card had been winner in world wide and international usage because it estimates its network to respond  at a rate of 140 milliseconds per trasactions.how ever bot only the mastercard but there is an substantial increase in the usage of visa,American express and money transfer application,data repository plays an important role in building and using applications as well. Master card encourages it customers by introducing many reward programs for their users like travel benefits,travel credits,free hotel stays,gift cards for the loyal customers to increase the customer satisfaction.In order to provide all these benefits for the users mastercard has to join hands with airways,retail stores and hotel chains etc. Financial firms can depend on the history of credit card payments and activity  to contribute the data  for specific merchandising and commerce. For example, a financial firm  that issues credit cards may have a huge number  of travel payments on a specific airways. The firm  can use this data to make  a deal with the airways to provide special offers and incentives to card users.

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