MasterCard and Deutsche Telekom today announced a European partnership to enable consumers to use their mobile phones as a convenient and secure way to pay. At a press conference in Berlin today, Deutsche Telekom and MasterCard highlighted the importance of their partnership and the introduction of mobile payments - one of the fastest growing consumer services in the last five years. The partnership aims to make mobile payments a reality for Deutsche Telekom's 93 million mobile customers across Europe. The first consumer roll-out will take place in Poland later this year. Also this year German consumers will be introduced to mobile payments.
However, and this is quite interesting, the trial will initially starts with mobile phone tags and cards, continuing into the first half of next year with a mobile wallet service which will, according to the German press release, using a SIM based NFC solution, rather than a device based solution.
Furthermore Deutsche Telekom's solution is said to be also open to other issuing banks and partners. Deutsche Telekom will issue the MasterCard products via its subsidiary company ClickandBuy, the owner of an e-money license and products will also be launched in other European markets.
The fact that the mobile wallet will be realized in the environment of the SIM card of the smartphones brings considerable benefits to the consumer: not only is the payment transaction secure, but the consumer has continuous and complete transparency and control because each transaction is confirmed via a text message.
Cheers ~ Arne