Sybase 365, a subsidiary of Sybase, Inc, global provider of mobile messaging and mobile commerce services, has announced it has been selected to be a preferred mobile money technology provider in MasterCard’s Mobile Money Partnership Programme.
The programme is a global initiative to help the more than 2.5 billion financially underserved consumers worldwide gain access to mainstream financial services through their mobile phones. As a leading mobile commerce platform provider for mobile banking, mobile payments and mobile money, Sybase 365 technology and expertise enhances mobile money services for all consumers including the unbanked and under- banked in developing markets.
The objective of Sybase 365 and MasterCard is to provide banks and mobile operators with an open payment solution to enable and enhance the consumers’ mobile commerce experience.
“Today, only a small fraction of the population in emerging markets has bank accounts. We designed the MasterCard Mobile Money Partnership Program to ensure that consumers in these markets have access to safe and convenient forms of financial services via their mobile phones,” said Mung Ki Woo, Group Executive, Mobile, MasterCard Worldwide.
“Partnering with leading solution providers such as Sybase 365 extends and accelerates our presence in the mobile money space.”
MasterCard and Sybase 365 will work towards developing and connecting their respective systems and software to provide an integrated mobile money services platform based on MasterCard prepaid companion cards and Sybase 365 Mobile Money solution. This platform will allow consumers to transfer funds, pay bills, and purchase goods and services via their mobile phones at millions of brick and mortar and online merchants worldwide that accept MasterCard cards.
“By providing solutions to emerging markets through a flexible partnership program, MasterCard is unlocking opportunities for innovation throughout the entire ecosystem,” said Matthew Talbot, Senior Vice President of m-commerce, Sybase 365. “As a lead preferred partner with MasterCard, we will demonstrate our expertise in bringing operators and financial institutions together to create mobile financial services solutions that reach millions around the world.”