MasterCard and Deutsche Telekom Unite in European Partnership on Mobile Payments

MasterCard (NYSE:MA) and Deutsche Telekom today announced a European partnership to enable consumers to use their mobile phones as a convenient and secure way to pay, according to a statement.rnrnAt 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.rnrnCommenting on the partnership, Mr Thomas Kiessling, Chief Product and Innovation Officer for Deutsche Telekom said, “This is a huge step on our way to increase mobile payments. With MasterCard we have a well-known and experienced partner generating growth in this important market segment. We want to build a comprehensive ecosystem around mobile payment, helping Telekom to realize its strategy of being the first choice for customers regarding connected life and work.”rnrnThe first consumer roll-out will take place in Poland later this year. Also this year German consumers will be introduced to mobile payments, initially in a trial with mobile phone tags and cards, continuing into the first half of next year with a mobile wallet service which will also be 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 licence. Products will also be launched in other European markets.rnrnCommenting, Ann Cairns, President, International Markets for MasterCard Worldwide said, “The payment space continues to be ripe for innovation, particularly at a time when we’re seeing an accelerating movement away from cash – driven by technology. MasterCard’s heritage is rooted in the creation of open technology, designed for everyone wanting to benefit from a more convenient and secure shopping experience. The mobile wallet service is open to other issuing banks and partners, helping support our customers in adapting to new consumer behaviors and changing market dynamics. Through today’s announcement we are showcasing a real meeting of the minds and that’s where true partnerships come from.”rnrnThe 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.rnrnAbout MasterCard WorldwidernrnMasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.rnrnAbout Deutsche TelekomrnrnDeutsche Telekom is one of the world’s leading integrated telecommunications companies with over 129 million mobile customers, almost 34 million fixed-network lines and 17 million broadband lines (as of march 31, 2012). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in around 50 countries and has over 235,000 employees worldwide. The Group generated revenues of EUR 58.7 billion in the 2011 financial year – more than half of it outside Germany (as of December 31, 2011).