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MasterCard and Deutsche Telekom Team on Secure Mobile Payments

MasterCard and Deutsche Telekom on Monday announced a partnership in Europe designed to enable Deutsche Telekom’s 93 million mobile customers across Europe to use their mobile phones as an easy and secure way to pay.

Mobile Payments“This is a huge step on our way to increase mobile payments. With MasterCard we have a well-known and experienced partner generating growth in this important market segment,” said Thomas Kiessling, Chief Product and Innovation Officer for Deutsche Telekom at a press conference in Berlin on Monday. “We want to build a comprehensive ecosystem around mobile payment, helping Telekom to realize its strategy of being the first choice for customers regarding connected life and work.”

The first consumer roll-out is expected to take place in Poland later this year. Also this year German consumers will be introduced to mobile payments, initially in a trial with mobile phone tags and cards, continuing into the first half of next year with a mobile wallet service that will also be open to other issuing banks and partners.

“The payment space continues to be ripe for innovation, particularly at a time when we’re seeing an accelerating movement away from cash - driven by technology,” said Ann Cairns, President, International Markets for MasterCard. “MasterCard’s heritage is rooted in the creation of open technology, designed for everyone wanting to benefit from a more convenient and secure shopping experience. The mobile wallet service is open to other issuing banks and partners, helping support our customers in adapting to new consumer behaviors and changing market dynamics. Through today’s announcement we are showcasing a real meeting of the minds and that’s where true partnerships come from.”

According to MasterCard, the fact that the mobile wallet will be realized in the environment of the SIM card of the smartphones brings considerable benefits to the consumer: not only is the payment transaction secure, but the consumer has continuous and complete transparency and control because each transaction is confirmed via a text message.

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