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July 03, 2012
The global market for mobile payment is increasing and the ubiquitous mobile, beyond calling and messaging, is becoming a promising channel through which to make payments.
According to a press release, Deutsche Telekom and MasterCard (News - Alert) showed the importance of their partnership and the introduction of mobile payments, one of the fastest growing consumer services in the last five years. This alliance aims to make mobile payments a reality for Deutsche Telekom’s 93 million mobile customers across Europe.
“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,” said Ann Cairns, president of International Markets for MasterCard Worldwide. “MasterCard’s heritage is rooted in the creation of open technology, designed for everyone wanting to benefit from a more convenient and secure shopping experience.”
The companies will offer the first consumer rollout in Poland later this year, and eventually introduced in European market. Also this year, German consumers will be introduced to mobile payments, initially in a trial with mobile phone tags and cards, continuing into the first half of next year with a mobile wallet service which will also be open to other issuing banks and partners.
Deutsche Telekom will issue the MasterCard products via its subsidiary company ClickandBuy.
“This is a huge step on our way to increase mobile payments,” said Thomas Kiessling, chief product and innovation officer for Deutsche Telekom. “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.”
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Edited by Braden Becker