MasterCard introduced the MasterCard Mobile Payments Gateway, a mobile payments processing platform that enables financial institutions and mobile operators to deliver “end-to-end mobile payments solutions through the MasterCard Worldwide Network.”
And the first partners that will use the new service is already on board – Brazil’s Itau Unibanco and Redecard, along with mobile operator Vivo. Using the service, interested consumers will be able to use their phone as a mobile wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their mobile phone to fund mobile-initiated payments.
MasterCard is working with the company called Smart Hub and has created an open mobile payment processing platform through the MasterCard Payments Gateway to facilitate the launch of MasterCard Mobile payment solutions in developing markets.
Finally, following the launch in Brazil, MasterCard said it will introduce MasterCard Mobile payments solutions through the Mobile Payments Gateway in select markets around the world.