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Mozido, MasterCard Partner on Mobile Financial Services

Mozido says the partnership will help it in its goal of offering mobile financial services to the unbanked.

Mobile financial services provider Mozido announced today it has partnered with MasterCard in a move that will see MasterCard payment and security products integrated into Mozido’s global ecosystem of mobile payment, marketing, and commerce services.

Mozido provides payments and other financial services and is focused on serving the 2.5 billion unbanked people in the world who have a mobile phone but are without access to traditional banking services. The company said this partnership will help it offer more financial services to the unbanked around the world.

“Our partnership with MasterCard advances our mission to establish a Mobile Global Exchange (MGX) capability of mobile payments that work seamlessly and securely wherever customers are,” said David Luther, EVP and chief business officer of Mozido, in a written statement. “Our mission will be more quickly realized through MasterCard’s global network, brand, and payment and security services.”

Under the partnership, Mozido will support MasterCard credit, debit, and prepaid cards as mobile wallet funding sources. Mozido said it will integrate and promote MasterCard products such as MasterPass, MoneySend, and MasterCard security and commerce services.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
11/30/2014 | 10:04:58 PM
Re: Unbanked
We've seen partnerships open up financial services to the unbanked and underbanked in other parts of the world. It's about time that it happened here in the U.S. We have a really large underbanked population that could use these types of offerings.
Becca L
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Becca L,
User Rank: Author
11/29/2014 | 4:49:49 PM
Unbanked
Great story, Bryan. It's always interesting to watch partnerships like these. Thanks to mobile and these types of collaboration the unbanked are now receiving access to some amazing products and services that would have been impossible for them to leverage only a few years ago.
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