In a continued initiative to keep up with the evolving mobile payment industry, Mastercard plans to expand its support of mobile network operators (MNOs) with the goal of becoming a complete digital player. With convenience and security at the core of consumer needs, the new package focuses optimizing core business, diversifying revenues, and harnessing trends and insights.
Part of Mastercard’s effort for enabling faster and seamless payments they have implemented solutions for prepaid phone top-ups in the Ukraine through Vodafone; enabled use of prepaid Mastercards for money transfer services in the Caribbean with the Digicel Group; announced a partnership between Military Bank and Viettel Telecom in Vietnam for a prepaid companion card for P2P transfers, utilities, and airlines bills; and in Taiwan, Chunghwa Telecom has launched a digital “Hami Wallet” accepted on all Mastercard contactless terminals.
“Research has shown that consumers want real-time access to convenient and unique experiences through the technology already in their hands,” said Kiki Del Valle, senior vice president, commerce for every device at Mastercard. “Through these services, Mastercard and our MNO partners are enabling innovative, secure and easy ways for consumers and businesses to pay, engage, build and grow – no matter where they are in the world.”