MasterCard’s stock dropped 3.6% on the recent announcement Verizon and AT&T are partnering with Discover and Barclays to launch mobile contactless payment services, but the company says it has its own ventures in diversified payments.
According to Ajay Banga, President and CEO of MasterCard, the company currently has 20 pilot and commercial roll outs of contactless payment around the globe, including a mobile payment pilot in the UK with Barclays and Orange and another in Tokyo with Guarantee Bank.
MasterCard is also offering contactless mobile payment in the US with Citi in the form of PayPass stickers attached to the back of the user’s mobile phone.
Additional programs are underway in Korea, Brazil, Canada, India and Singapore, says Banga. In addition, the company also offers a money-send service in which customers can make purchases or transfer money person to person using a mobile phone or internet browser.
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