MasterCard has announced it has entered into an agreement to acquire C-SAM, Inc. a provider of mobile wallet and on-device software and services. In acquiring C-SAM, this will enable MasterCard to speed up the development and deployment of mobile wallets and payment solutions, including the rollout of MasterPass.
The C-SAM platform supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions. Adding C-SAM’s in developing mobile platforms will support MasterCard’s work with financial institutions to bring new, innovative and secure solutions to market.
“Consumers today are living digital lifestyles, shopping in new ways using a range of new products and devices. Bringing C-SAM’s mobile expertise into MasterCard will help us launch a wider range of mobile and virtual solutions better and faster – bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants.” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard.
“The acquisition of C-SAM is a significant milestone in our company’s history. While we have enjoyed a strong, longstanding relationship with MasterCard, the team is excited to be formally joining such an innovative and industry-leading organization to deliver end-to-end device-based solutions for service providers around the globe.” said Felix Marx, Chief Executive Officer, C-SAM.
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