US-based financial services corporation MasterCard International reportedly plans to launch the MasterCard Mobile Money Partnership Program worldwide “to give consumers who lack access to traditional financial services the ability to purchase goods and services using mobile phones” and allowing them to “transfer funds and pay bills.” Partners include Indian mobile services provider Comviva, mobile messaging services company Sybase 365 and Singapore-based mobile financial company Utiba. Services offered include prepaid cards, virtual card accounts, person-to-person (P2P) payments and face-to-face or remote payments for good and services [1]. A launch date has not been disclosed.
MasterCard serves approximately 25,000 customers in 210 countries and territories.
By Brendan Millan, Research Associate
Sources and Resources:
[1] The Philippine Star: “MasterCard Starts Phone Banking”, http://www.philstar.com/Article.aspx?articleId=784166&publicationSubCategoryId=74
MicroCapital.org Article, March 9, 2012, “Telefonica’s ‘mWallet’ to Enable Mobile Payments in South America, Europe”, https://www.microcapital.org/microcapital-brief-telefonicas-mwallet-to-enable-mobile-payments-in-south-america-europe/
MicroCapital.org Article, January 24, 2012, “‘Mobile Money: Connected America’ to be Held in Mexico City, March 26 – March 29 2012”, https://www.microcapital.org/microfinance-event-mobile-money-connected-americas-to-be-held-in-mexico-city-march-26-march-29-2012/
MicroCapital.org Article, April 3, 2009, “IDB and Fundacion Telefonica Present Report on Mobile Communications and Access to Financial Services in Latin America and the Carribbean”, https://www.microcapital.org/microcapital-story-idb-and-fundacion-telefonica-present-report-on-mobile-communications-and-access-to-financial-services-in-latin-america-and-the-caribbean/
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