MasterCard gets serious about its next billion customers goal

MasterCard has continued to outlined its vision on how to reach the next billion consumers through mobile innovation and partnerships  at a press conference at the Mobile World Congress in Barcelona led by its global head of mobile Mung Ki Woo,  MasterCard and leading mobile partners Comviva, Intel, iZettle, Santander and Turkcell unveiled a vision for the future of mobile payments. 

Their shared vision is that the future of reaching the next billion consumers through the mobile channel will be fuelled by collaboration and innovation in a collective effort by all the players in the ecosystem including technology providers, mobile network operators and financial institution (their words). MasterCard also used the world’s largest mobile event to celebrate a number of new mobile partnerships and initiatives from around the globe, including:

  • The unveiling of Wanda, a joint venture between Telefónica and MasterCard a new corporate and consumer brand designed to provide mobile payment solutions to over 87 million Movistar customers in its Latin American markets. These mobile payment services will be linked to a mobile wallet or prepaid account that will allow for money transfers, mobile airtime reload, bill payment and retail purchases, among other services. The mobile wallet and prepaid accounts will be available anytime, anywhere in the world.
  • A partnership with BOKU, Inc.that will enhance the shopping experience for consumers, allowing them to make payments, receive discounts and targeted offers, and monitor spending – all via their mobile phones anywhere MasterCard is accepted. Offered through a mobile subscriber’s mobile network operator (MNO), BOKU Accounts with MasterCard Prepaid gives consumers a convenient way to pay while on the go.
  • The new MasterCard Mobile Money Partnership Program, launched with its initial partners Comviva, Sybase 365 and Utiba, designed to help more than 2.5 billion financially-underserved consumers worldwide gain access to formal financial services through their mobile phones.

Concluding the press gathering, Mung Ki Wu noted, “Mobile World Congress 2012 provided MasterCard with a unique opportunity to stand shoulder to shoulder with some of the leading players in the mobile industry and outline our shared vision for the future.  Mobile presents a significant opportunity to bring commerce and banking into the hands of consumers around the world. Through an innovative approach to mobile commerce, MasterCard and its partners are helping unlock the full potential of mobile commerce and bring billions of consumers into a world beyond cash”.

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Categories: Contactless Technology, Mobile Payments

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