MasterCard has launched the MasterCard Mobile Payments Gateway (MMPG), a mobile payments processing platform that enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard global network. The MMPG is a turnkey mobile payment processing platform that allows issuers, acquirers, merchants and mobile network operators to quickly and cost-effectively provide customised mobile solutions in developing payments markets.
Itaú Unibanco and Redecard, along with mobile network operator Vivo, will be the first to use the MMPG to deliver mobile payment solutions to the banks’ customers in Brazil. The service will give consumers the ability to use their phone as a mobile wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their mobile phone to fund mobile-initiated payments.
“We are pleased to introduce a mobile payments solution that reinforces our innovative positioning in the market,” said Fernado Teles, managing director, Itaú Unibanco Holding. “For Itaú, it is important to not only bring cutting-edge products but also ensure that it offers our customers the security and convenience they expect from a banking transaction.”
“The MasterCard Mobile Payments Gateway is complementary with the existing Redecard solutions and we are honoured to be part of this project,” said Roberto Mediros, president and chief executive officer (CEO) of Redecard. “This platform reinforces our leadership in mobile payments solutions. This is a breakthrough for mobile payments around the globe. Democratisation and innovative solutions have always been priorities for Redecard and the MasterCard Mobile Payments Gateway is precisely aligned.”
Following the launch in Brazil, MasterCard will introduce MasterCard mobile payments solutions through the MMPG in select markets around the world.
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