The service, offered via MasterCard MoneySend, will give new and existing MasterCard issuing customers the ability to provide an innovative mobile payments service to their MasterCard cardholders on all credit, debit and prepaid MasterCard-branded products.
The announcement of this service comes at a time when consumers are increasingly seeking to use their mobile phones to streamline and simplify their day-to-day activities, including banking and payment transactions. TowerGroup estimates that in the United States, adoption of consumer mobile banking has quintupled in the past 12 months from 1.1 million active users in 2007 to 5.7 million active users today. As mobile consumers become increasingly comfortable with converging technologies on their mobile devices, the opportunity to develop mobile payments systems will continue to grow. The new Mobile MasterCard MoneySend Person-to-Person service will give participants the freedom and flexibility to directly, easily and securely send and receive funds through any registered cardholder's mobile phone. The service will make mobile money transfer seamless for millions of consumers. Participants will use mobile numbers to send and receive funds, keeping their payment account numbers private.According to Obopay President, U.S.-based Operations, Gregory Holmes, "Obopay is proud to establish this partnership with MasterCard, and we look forward to developing a service that will build on MasterCard's history of delivering mobile services to their cardholders". "With more consumers clamoring for services that fit their mobile lifestyles, we're confident that MasterCard cardholders will welcome the option of quickly and easily sending money to other cardholders via mobile phone."
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