mFoundry and MasterCard to deliver digital wallets services to banks

Mastercard

Partnering mFoundry to expand solution

At Mobile World CongressmFoundry and MasterCard have announced an agreement to make MasterPass-connected wallets available to mFoundry’s nearly 900 bank customers. By integrating the MasterPass by MasterCard service with mFoundry’s mobile banking solutions, millions of consumers could be able to use any payment card or enabled device to discover enhanced shopping experiences online, in-store or anywhere.

MasterPass is the evolution of PayPass Wallet Services which was announced in Spring of 2012 and has been in a production trial with select merchants and issuers. mFoundry will create a digital wallet service using the MasterPass APIs to provide its customers with a MasterPass-connected wallet as part of its mobile banking platform. mFoundry’s solution will deliver an integrated mobile banking and payment solution to the market. The service will be available to mFoundry’s customer banks in early 2014 with pilots expected to launch in 2013.

“Consumers will now shop and pay in whatever way best fits their needs and lifestyles, from every device they have. MasterPass gives them the ability to make a payment from wherever they are, with one simple experience,” said Ed Olebe, Group Head, MasterPass Services, MasterCard. “Integrating with mFoundry’s solution embeds the power of MasterPass into an industry-leading mobile banking platform and enhances both the payment and banking experience for consumers.”

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