In line with the industry trend of expanding digital payments
) is preparing to bring a White Label Mobile Wallet solution
jointly with C-SAM, a non-US based provider of turnkey solutions.
The new solution comes just a week after the company launched
PayPass Wallet Services.
The offering will facilitate a quicker, secured and flexible
mode of payment to mobile operators, bankers and payment providers
across the Asia-Pacific, Middle East and the African region.
The alliance will allow MasterCard to combine its pre-paid
platform, offers, PayPass Wallet and informational services with
C-SAM's Mobile Transaction Platform ("MTP"). The joint solution
will come with huge promotional offers to attract a large number of
customers who want virtual payment services available on their
The new platform will address the intricacies in operating
several mobile devices and its respective operating platforms and
simultaneously preserving the security and other third party
associations. With these services, the mobile operators and
financial institutions will be able to offer unparalleled services
to the customers.
With this initiative, MasterCard moves a step ahead of its peers
) - in offering digital payment services. Both AmEx and Visa are
primarily focusing on the US market while MasterCard is on the
lookout for expanding its footprint in the international
AmEx collaborated with Isis Mobile to provide Isis Mobile Wallet
to its customers in Utah and Texas later this year. Competing on
similar grounds, Visa entered into an agreement with Obopay
Disbursements to pay out electronic funds to a prepaid card.
MasterCard currently retains a Zacks #2 Rank, which translates
into a short-term Buy rating. We also retain our long term
'Neutral' recommendation on its shares.
AMER EXPRESS CO (AXP): Free Stock Analysis
MASTERCARD INC (MA): Free Stock Analysis Report
VISA INC-A (V): Free Stock Analysis Report
To read this article on Zacks.com click here.