This week MasterCard announced a new developer initiative, which will place MasterCard payment technology in mobile and online apps. "We are excited about tapping into the ingenuity of software developers around the globe to help create the next generation of game-changing payment applications," said Josh Peirez, Chief Innovation Officer, MasterCard Worldwide. "We feel this will unleash innovation within our industry especially in the burgeoning areas of e-commerce and mobile payments."