MasterCard strikes mobile payment deal in U.K.
MasterCard and Everything Everywhere have entered a five-year partnership to accelerate the development of the systems that enable consumers to pay for goods and services using their mobile devices in lieu of a credit card.
Everything Everywhere is the combination of T-Mobile and Orange in the U.K. The company said it has 27 million customers in the British Isles. MasterCard and Orange for the last three years have been working together to enable payments based on near field communications (NFC) technology. The two last year introduced a co-branded prepaid card.
The new strategic partnership aims to further promote the adoption of secure mobile payments by combining technology and financial assets to create new services that will make paying for goods and services easier for people and small businesses.
One of the first products to launch through the partnership will be a co-branded prepaid solution for mobile devices that allows customers to make payments using NFC. This will enable Everything Everywhere customers to make contactless payments at more than 100,000 retailers in the U.K.
The partners plan to expand the scope of mobile device commerce into other areas, including person-to-person money transfers, loyalty rewards and digital payment services that will enable consumers to have the same shopping experience, whether they're paying in-store, online or using their mobile device.
In addition, the two companies will develop services that allow small business customers to accept payments using mobile devices. The two said more details on that will be announced later this year.
Gerry McQuade, chief marketing officer at Everything Everywhere, said: “Working with MasterCard is an important step in making mobile contactless payments more widely available for our 27 million customers. By moving our existing co-branded card offers onto mobile devices, we are closer to a world where our customers will be able to use their phone to pay for travel to work, pay for small purchases and take advantage of loyalty rewards from their favorite retail outlets.”