trilium banner March 2012
     

By Scott Thompson

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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Other stories you may find of interest:

News in brief - March 2011
A round-up by FST

Poles keen/Brits cool on contactless
Consumers in the Middle East and Poland are keener on new payment technologies than those in the UK/Ireland, Germany and Australia

EPC report shows mobile opportunity, while Ovum warns of security
The rapid development of mobile payments is illustrated by two new reports – one from the European Payments Council shows how mobiles can be used as a launch pad for SEPA; the other is from analyst firm Ovum, warning of the need to improve security

bankers accuity may 2012


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