MasterCard And Deutsche Telekom To Roll Out Mobile Payment In Europe

Posted on Jul 2 2012 - 1:52pm by Editorial Staff

MasterCard and Deutsche Telekom today announced a European partnership to enable consumers to use their mobile phones as a convenient and secure way to pay. The partnership aims to make mobile payments a reality for Deutsche Telekom’s 93 million mobile customers across Europe with first roll-out to take place in Poland later this year. Deutsche Telekom will issue the MasterCard products via its subsidiary company ClickandBuy, the owner of an e-money licence. Products will also be launched in other European markets.

Ann Cairns, President, International Markets for MasterCard Worldwide said, “The payment space continues to be ripe for innovation, particularly at a time when we’re seeing an accelerating movement away from cash – driven by technology. The mobile wallet service is open to other issuing banks and partners, helping support our customers in adapting to new consumer behaviors and changing market dynamics. Through today’s announcement we are showcasing a real meeting of the minds and that’s where true partnerships come from.”

Commenting on the partnership, Mr Thomas Kiessling, Chief Product and Innovation Officer for Deutsche Telekom said, “This is a huge step on our way to increase mobile payments. With MasterCard we have a well-known and experienced partner generating growth in this important market segment. We want to build a comprehensive ecosystem around mobile payment, helping Telekom to realize its strategy of being the first choice for customers regarding connected life and work.”

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.