MasterCard announced on Tuesday a partnership with telecom operators Deutsche Telekom, Telefónica Deutschland and Vodafone, as well as payments company TREVICA, to establish a new mobile platform to accelerate mobile payments development in Germany.
“By bringing together the best in banking and mobile, we make mobile payments ubiquitous across all networks, just like messaging today,” Pawel Rychlinski, the division president for German and Switzerland at MasterCard, said. “Today we announce a game-changer in Germany and during 2014 we will extend to more European countries.”
Generally, banks and financial institutions have various contracts and setups with different payment services providers and carriers.
Telefónica, Vodafone and Deutsche Telekom service 80 percent of mobile customers in Germany, and the partnership will allow issuing banks to connect to a number of mobile operators through a single integration on the MasterCard-owned TREVICA platform.
“We want to enable banks to reach more of their customers with secure NFC,” Vodafone Group Director of Consumer Services Stefano Parisse said. “By reducing the cost for banks to integrate and by reducing their time to market, we are confident that we have a model for Germany that will work around Europe.”