mFoundry and Mastercard have reached agreement to avail MasterPass-connected wallets to nearly 900 bank customers of mFoundry.
The deal could allow millions of consumers to use any payment card or enabled device to have enhanced yet simple shopping experience. Through the integration of mFoundry's mobile banking solutions with the MasterCard service, customers could shop by just clicking or tapping anywhere, whether online or in-store.
mFoundry plans to build a digital wallet service using MasterPass, which is the evolution of PayPass Wallet Services announced in 2012 Spring, to provide consumers with wallet connected to MasterPass as part of its mobile banking program, delivering an integrated mobile banking and payment solution to the world market.
Ed Olebe, MasterPass Group Head at MasterCard, said in a statement that consumers are now provided with the ability to make a payment in whatever way they want from anywhere.
On the other hand, Drew Sievers, chief executive officer of mFoundry, stated that both companies can achieve sustainable growth in mobile banking by merging mobile banking solutions with mobile payments.
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