MasterCard and Orange have teamed up together to deliver mobile payment service to the people of Spain. At the recently held Mobile World Congress, they signed a strategic agreement to come together and deliver innovative mobile payment solutions.
Pilar Aurrecoechea, general director, MasterCard Spain and Portugal, said the strong alliance between MasterCard and Orange will make shopping and payment processes easier for the people in Spain. He went on to add that MasterCard will continue to deliver its vision for a world beyond cash. In order to do so, it will continue to create payment processes that are simple albeit safe for both the common man and business.
Orange’s Spain innovation director, Alicia Calvo, added that the partnership would be a decisive and important step for Orange to continue to offer its clients and businesses the most innovative type of mobile payment solutions using several new electronic technologies. She added that this partnership would help them fulfill that promise.
With safe and reliable processes, MasterCard is a proven leader in the development of safe mobile payment applications and has been using Near Field Communication (NFC) technology for several years. It is the global leader in the development of innovative payment solutions. Over the last two years MasterCard has launched 25 mobile payment initiatives. MasterCard connects consumers, merchants, financial institutions, businesses and governments in more than 210 countries and its solutions have made managing finances easier. Routine everyday activities such as travelling, shopping, running a business with the help of MasterCard products are simpler and more secure for everyone.
Orange occupies a niche place as a global leader of NFC solutions. It has launched its services in the U.K., Poland and France and is the third major operator in Spain with more than 13 million customers. It also has both residential and enterprises offerings, that include IPTV, mobile and fixed broadband services.
According to some research studies, about 85 percent of the payment terminal will be able to accept contactless payments by 2016. It is estimated that about 74 billion dollars will be transferred through NFC technology in 2015.
Edited by Rachel Ramsey