August 27, 2009

• MasterCard MoneySend

  Who doesn’t have a MasterCard in their wallet?

  MasterCard is now hoping it can achieve that kind of iconic status on the mobile phone. In June, the company launched a mobile payment platform enabling customers to transfer money to another person, and all they need to know is the recipient’s mobile phone number.

  Currently, customers use the service through a prepaid card issued by The Bancorp Bank and then link it to their mobile phone number to send or receive money. But as more issuers enroll into the program, says MasterCard, mobile phone users will be able to take just about any account and link it to MoneySend.
  
  MasterCard is working with Obopay, a Redwood City, California-based startup, that is also powering the Nokia Money service.

  One of the significant announcements from Apple this year was that it would allow developers to charge users for goods and services purchased through their apps. The move could turn out to be an important boost for mobile payments, because it will get people used to the idea of paying for things within special-purpose apps. For instance, the Taxi Magic iPhone app allows users to call a taxi through the app and then pay for the ride using their phone.

  • 12:27 am
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