MasterCard and Everything Everywhere ink 5-year m-payments deal
28 August 2012 | 7728 views | 0
MasterCard has struck a five year deal with Everything Everywhere to build a mobile and digital payments system for the telco giant's 27 million UK customers.
The partners will initially develop a co-branded pre-paid NFC mobile payments system, enabling Orange and T-Mobile customers to make contactless payments at more than 100,000 UK retailers.
This will be followed by other features, including person-to-person money transfers, loyalty rewards and "digital payment services that will enable consumers to have the same simple shopping experience whether they're paying in-store, online or using their mobile device".
The partners will also work on services that allow small business customers to accept payments using mobile devices, although details have yet to be provided.
Marion King, president, MasterCard UK & Ireland, says: "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."
Gerry McQuade, chief marketing officer, Everything Everywhere, adds: "By moving our existing co-branded card offers onto mobile devices, we are closer to a world where our customers will be able to use their phone to pay for travel to work, pay for small purchases and take advantage of loyalty rewards from their favourite retail outlets."