This week, DeviceFidelity and Vincento Payment Solutions Ltd, in partnership with MasterCard have unveiled the prepaid MasterCard® PayPass iPhone wallet at the 2012 MasterCard Europe Prepaid Conference, held in Lisbon, Portugal. This is the commercial launch for the European version of moneto, the direct to consumer NFC prepaid mobile wallet app for the iPhone. The UK will be the first European market where the partners will launch moneto for iPhone consumers.
“After the successful US launch of the moneto mobile wallet earlier this year, DeviceFidelity has partnered with Vincento and MasterCard to bring this innovative popular payment solution to the UK” says Philippe Martineau, VP of Business Development for DeviceFidelity Europe. “The UK is one of the fastest growing prepaid and contactless payments markets, and ranks among the top markets for NFC and contactless POS enablement.”
The moneto prepaid mobile wallet uses a combination of the MasterCard® PayPassTM technology and DeviceFidelity’s iCaisse4X case to enable tap & goTM payments on the iPhone at nearly 500 thousand merchant locations in 41 countries. Powered by the technology behind Kalixa®, Vincento’s flagship prepaid MasterCard card, moneto is a truly comprehensive mobile commerce solution that provides the convenience, control, and flexibility of mobile prepaid payments in a secure and mobile environment.
The moneto mobile wallet service differs from any other mobile NFC program as it will be available to most smartphone users irrespective of wireless carrier. Later this year, iPhone consumers will be able to order the service directly from www.moneto.co.uk . Users will be able to link their bank account or credit card to fund their moneto prepaid accounts. Subsequently, the service will also be available to Android consumers in UK and then to additional European countries.
“Momentum around NFC payments is gathering pace. Following the enormous success of Kalixa, our prepaid MasterCard card, it was a natural to explore how we could develop an NFC offering. In DeviceFidelity and MasterCard we have partnered with truly innovative companies that share a common vision to make payments simple, secure and ubiquitous. moneto is a significant step in achieving that goal,” said Kamran Hedjri, Managing Director at Vincento. “From issuing to processing to acquiring, we are proud our payment platform is powering this pioneering product.”
The moneto prepaid MasterCard will be the first prepaid program to offer a mobile payment solution that includes an app for the iPhone allowing users access to their account on a mobile device and enjoy features such real-time balance updates, merchant locator, wallet security and full NFC functionality. moneto also comes with a companion EMV prepaid MasterCard card to give users the ability to access their cash at ATMs, make online purchases, or shop at merchants that do not accept contactless payments.
Matt Lanford, Head of Prepaid at MasterCard Europe concludes: “Today’s launch is another milestone in the MasterCard strategy to partner with innovators across the industry to deliver simple payments using smart technology, no matter where and on what device consumers choose to shop. I am very pleased that MasterCard is the partner of choice of players developing the next generation of payments for a world beyond cash.”