MasterCard is investing in US m-banking outfit, mFoundry.
It is leading a funding round which also involves Intel Capital, Fidelity Information Services and Motorola Mobility. The deal includes MasterCard offering its PayPass NFC technology to the 500 plus banks mFoundry currently works with.
“By working with MasterCard, we will be able to evolve and expand our financial services platforms to reach more consumers through new and existing clients,” says Drew Sievers, CEO and co-founder of mFoundry. “MasterCard shares our philosophy on how to enable its clients with mobile payments and we are thrilled to be working hand-in-hand with them to bring their PayPass solution to our clients.”
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