MasterCard is embarking on a five-year partnership with mobile service provider Everything Everywhere to enable customers and small businesses to make contactless payment at over 100,000 retailers in the UK.
Initially in the form of a pre-paid system for mobile devices, the companies plan to expand into other areas including person to person money transfers, and the development of services that allow small businesses, such as plumbers and electricians, to accept contact-less payments.
“MasterCard’s vision is of a world beyond cash, where consumers and small businesses alike can benefit from simple payments using smart technology,” says MasterCard president Marion King.
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