From the Wires
mFoundry and MasterCard to Deliver Digital Wallets Services to Banks
By: Business Wire
Feb. 25, 2013 02:10 AM
At Mobile World Congress, mFoundry and MasterCard (NYSE: MA), announced today an agreement to make MasterPass™-connected wallets available to mFoundry’s nearly 900 bank customers. By integrating the MasterPass by MasterCard service with mFoundry’s mobile banking solutions, millions of consumers could be able to use any payment card or enabled device to discover enhanced shopping experiences that are as simple as a click, tap or touch – online, in-store or anywhere.
MasterPass is the evolution of PayPass Wallet Services which was announced in Spring of 2012 and has been in a production trial with select merchants and issuers. mFoundry will create a digital wallet service using the MasterPass APIs to provide its customers with a MasterPass-connected wallet as part of its mobile banking platform. mFoundry’s solution will deliver a truly integrated mobile banking and payment solution to the market. The service will be available to mFoundry’s customer banks in early 2014 with pilots expected to launch in 2013.
“Consumers will now shop and pay in whatever way best fits their needs and lifestyles, from every device they have. MasterPass gives them the ability to make a payment from wherever they are, with one simple experience,” said Ed Olebe, Group Head, MasterPass Services, MasterCard. “Integrating with mFoundry’s solution embeds the power of MasterPass into an industry-leading mobile banking platform and enhances both the payment and banking experience for consumers.”
“Together, mFoundry and MasterPass deliver an outstanding customer experience by integrating mobile banking and mobile payments into one, seamless solution,” said mFoundry CEO Drew Sievers. “By bringing together both, financial institutions can transform their mobile banking experience and achieve the broader goal of turning mobile into their most valuable channel.”
Find a complete list of MasterCard’s news announcements from Mobile World Congress in our Digital Press Kit and follow us @MasterCardNews #MWCashless #MAMobileSymp to join the conversation.
About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
mFoundry is North America’s largest provider of mobile banking and mobile commerce. The leading software-as-a-service (SaaS), cloud-based mobile banking offering, mFoundry works with almost than 900 banks and credit unions nationwide, including Bank of America, PNC Bank, Zions Bank and more than one-third of the top 50 financial institutions in the U.S. mFoundry was behind the nation’s largest, and most successful mobile payments program: Starbucks Card Mobile. mFoundry is headquartered in Larkspur, California, with offices in downtown San Francisco. For more information, visit http://www.mfoundry.com.
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