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Mobile Payments

MWC 2014: MasterCard to acquire C-SAM

Monday 24 February 2014 | 10:38 AM CET

At Mobile World Congress, MasterCard has unveiled that it has entered into an agreement to acquire C-SAM, a provider of secure mobile transactions technology offering a range of mobile-based applications for financial institutions, retailers and mobile network operators that incorporate near field communication (NFC), quick response (QR), online, remote, coupons.

The terms of the agreement were not disclosed. The closing of the acquisition is subject to regulatory approval and is expected in the first quarter of this year.

C-SAM has powered a number of commercial mobile payments services in India, Japan (DNP), Mexico, Singapore (Starhub), the US (ISIS) and Vietnam. The C-SAM platform also supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions. C-SAM’s on-device application and back-end infrastructure is set to aid development efforts to enable consumers to use MasterPass both in-store and online across multiple communications technologies, including NFC, QR/barcodes and remote checkout.

In recent news, MasterCard has unveiled a specification that leverages Host Card Emulation (HCE) for secure near field communication (NFC) payment transactions.

More: Link
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