Visa, MasterCard sign European mobile payment partnerships

Last week both Visa and MasterCard announced European mobile payments partnerships.  On Monday, MasterCard announced that it has entered into a mobile payments partnership with Deutsche Telekom, while Visa announced on Friday that it had joined forces with Telefonica Digital to offer a similar service.


The agreement between Visa (San Francisco, Calif., USA) and Telefonica Digital (Madrid) will see both companies co-invest in the development of products and services in areas such as mobile wallet, contactless payments (NFC), acquirer services for mobile point of sale, and merchant offers. The agreement builds on Telefónica and Visa Europe's existing relationship in markets such as the UK and Ireland, formalizing it at a Europe-wide level and establishing Visa Europe as Telefónica's preferred partner for the issuance of branded payments cards and the development of related mobile payment services, says both companies.


 “Visa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products,” said Joaquin Mata, director of Financial Services at Telefónica Digital. “This market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities.”


According to the companies, Telefónica is committed to striking wide-ranging, open partnerships with a range of companies in order to develop mobile commerce services. In addition to Visa Europe, it has recently formed partnerships with Sybase and Giesecke and Devrient.


The agreement between MasterCard (Purchase, N.Y., USA) and Deutsche Telekom (Bonn, Germany) involves Deutsche Telekom delivering smart payments to its 93 million mobile customers across Europe.


The initial deployments will begin in Poland and Germany and will include the introduction of a mobile wallet service in 2013.  The platform will be open to other issuing banks and partners, according to the Wall Street Journal, and MasterCard products will be issued through Deutsche Telekom’s subsidiary ClickandBuy.


According to MasterCard’s Mobile Payments Readiness Index, which was released in May, both Poland and Germany were in the lower half of countries considered “ready” to adopt mobile payments. The scores were based on six different components: environment, infrastructure, regulation, consumer readiness, financial services and mobile commerce clusters.


According to MasterCard, Germany has a strong environment, regulatory structure, and widely distributed and affordable financial services; but the country falls short when it comes to levels of investment in telecom, as well as consumer readiness.


Although Poland is ranked in the bottom ten in terms of readiness, the index suggests that the problem has more to do with education rather than economics or penetration.  According to the Index, partnerships between telcos and banks in Poland are already beginning to take shape.


 

ArticleTools

Featured Reports

Content Delivery Networks (CDN) 2015
Content Delivery Networks (CDN) represent large distributed system of servers deployed in multiple data centers across the Internet. CDNs provide solutions for efficiently and effectively managing content of all types. Solutions include core services such as aggregation, management, and distribution of content as well as a variety of value-added functionality.

 

Cable Carrier Wi-Fi: MSO Take MNO Market Share
How does a cable provider gain a bigger piece of the telecom market pie chart? With a clever Wi-Fi strategy, cable providers are in a unique position to dominate the residential and business telecommunications markets. This is the portent of things to come in the very near future: an MSO as MNO play.

 

Structured and Unstructured (Big) Data in Telecom Analytics
This report provides the reader with a broad understanding of telecom data (structured and unstructured/big data) and related analytics. The report identifies market drivers and opportunities as well as forecasts for certain key growth areas such as deep packet inspection.

 

Affordable Market Reports on Big Data, IoT, CDN & More!
Access the exclusive new series of market research reports brought to you through the partnership of Mind Commerce research and TelecomEngine.com.
Browse the latest titles

 

 

Featured Events & Partners

The Telecom Exchange (TEX)
Wednesday, June 24, 2015

Cipriani Wall Street, New York City

Designed to navigate enterprise and carrier network operators through all carrier hotels and colocation houses available in the US and globally.

Visit event website...