New mobile payments solution
Telecommunications firm Telefonica and MasterCard are entering into a joint venture which sees the launch of a new mobile payments solution in Brazil. The new prepaid service, which has no brand name as of yet, is aimed at low income individuals, prepaid mobile subscribers and people who do not have bank accounts.
It will enable users to recharge credits on their mobile phone as well as transferring money to other users of the m-payment service. In addition, customers will receive a card allowing them to shop and withdraw cash at ATMs.
Telefonica and MasterCard hope to launch the new product in April 2013 in five cities, ahead of a planned national roll-out. Antonio Carlos Valente, CEO of the Telefónica Group in Brazil said: “This product fits the company’s commitment to offer solutions that improve people’s lives, reducing distances and making communications faster and more digital.”
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