MasterCard International has entered an agreement with Paris-based MobileWay to develop and market an authentication scheme that will verify cardholders to merchants and confirm transactions via the consumer's wireless handset.
The two companies say they will also collaborate on development projects to ensure interoperability between MasterCard's electronic payment systems and MobileWay's global data network hub. The alliance will build upon the efforts of the Global Mobile Commerce Interoperability Group (GMCIG), of which both companies are members.
Art Kranzley, senior vice president, global e-business, MasterCard International says mobile commerce needs to be supported by a secure and robust messaging network. "Working with MobileWay, MasterCard intends to deliver m-commerce solutions that will enable mobile operators to provide value added services while boosting cardholder and merchant confidence in the payments portion of m-commerce," he says.
The two companies will be showcasing their joint plans for m-commerce at the GSM World Congress in Cannes this week.