Under the agreement, mFoundry will create a digital wallet service using the MasterPass APIs to provide its customers with a MasterPass-connected wallet as part of its mobile banking platform. mFoundry’s solution will deliver an integrated mobile banking and payment solution to the market. The service will be available to mFoundry’s customer banks in early 2014 with pilots expected to launch in 2013.
mFoundry was founded in 2004 as a provider of mobile banking and payments services to financial institutions such as Fidelity National Information Systems, First Data, NCR, the CO-OP Financial Services and PSCU Financial Services via its platform, which also includes a mobile wallet functionality.
In recent news, US banking and payments technology company FIS has signed a definitive agreement to acquire the remaining 78 percent interest in mFoundry.
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