The MasterCard Mobile Money Partnership Program extends the services of today’s mobile money offerings including mobile top-up, bill payments and P2P payments to provide access and availability to electronic payments. In addition, the Program’s platform allows mobile money providers to leverage existing investments in closed-loop platforms, or in case of new deployments, choose the platform of preference. Working with eServGlobal and Oltio and existing partners Comviva, Gemalto, Sybase 365, Telepin and Utiba, MasterCard is helping accelerate and expand the development of financial services offerings in emerging markets via the use of mobile technology.
eServGlobal develops and implements mobile payment, network services and messaging products for operators in mobile, fixed and IMS network environments.
The Mobile Money Partnership Program provides consumers with MasterCard services including prepaid companion cards; virtual MasterCard accounts for consumers to make eCommerce payments with their mobile money account anywhere MasterCard is accepted online; P2P payments between subscribers of two different participating mobile money services; and face-to-face or remote payments using mobile phones for goods and services at participating merchants that do not have traditional POS acceptance.
In recent news, MasterCard and Kenya-based financial institution Equity Bank have partnered with mPOS services provider Ezetap to make mobile POS technology available in Kenya.
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