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Tuesday, August 28, 2012

MasterCard to create pre-paid mobile payment solution for Everything Everywhere

Payment processing business MasterCard has announced a five-year partnership that’ll see it working on mobile and digital payment solutions for Everything Everywhere’s UK customers.

The two companies are already planning a co-branded pre-paid solution that’ll allow customers to make payments using Near Field Communications technology via mobile devices. Details of the mechanism haven’t been revealed, although an adhesive NFC-enabled MasterCard sticker appears to be a strong possibility.

MasterCard and Everything Everywhere say they’ll also expand into other areas including person-to-person money transfers, loyalty rewards and digital payment services that work across high-street and online shops. In addition, a mobile-based payment acceptance solution for businesses is planned.

Marion King, President of MasterCard UK & Ireland, said “We’re delighted to be working with Everything Everywhere, the UK’s leading mobile operator. MasterCard’s vision is of a world beyond cash, where consumers and small businesses alike can benefit from simple payments using smart technology. The partnership we are announcing today builds on our strong heritage in the mobile payments space and ensures that MasterCard remains the partner of choice for leading businesses in the UK. As the use of cash continues to decline, we will be able to provide Everything Everywhere’s 27 million customers with an attractive range of new payment services backed by the processing power and security of MasterCard.”

MasterCard and Everything Everywhere have already been working together for the last three years. They launched the Orange Quick Tap NFC service with Barclaycard and a pre-paid Orange-branded card in 2011.

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Author: The Fonecast
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