Mozido, a provider of financial and marketing services to mobile phone users, today announced it has signed a global commercial agreement with MasterCard® (MA).
Mozido will integrate MasterCard payment and security products into Mozido’s global ecosystem of mobile payment, marketing, and commerce services accessible from any type of mobile phone. This creates a powerful global mobile payments environment that will enhance adoption for merchants and consumers.
Mozido is working to provide more affordable and secure mobile payment and commerce services, such as international remittance, person-to-person (P2P) payments, and person-to-merchant payments. Mozido services are especially focused on the 2.5 billion people in the world who have a mobile phone, but are without access to traditional banking services.
“Mozido’s mobile ecosystem brings easier, more attainable financial and mobile marketing services to merchants and customers. Their focus on the underserved is especially compelling,” said Ron Hynes, group executive, Global Prepaid, MasterCard. “Mozido’s strength in building versatile mobile financial and retail solutions that translate across borders makes the company a great partner for our prepaid card, payment, and security services.”
”Mozido is honored to have a global agreement to embrace the MasterCard network of merchants, consumers, and payments services within Mozido’s mobile ecosystem solutions,” said Michael Liberty, founder of Mozido. “This partnership will help to accelerate my vision to bring hope, opportunity, and financial fairness to the financially disenfranchised around the world, through mobile financial services. I believe that empowering unbanked people around the world will lead to tremendous economic development and is a pathway to prosperity for all involved.”
Under the partnership, Mozido currently supports MasterCard credit, debit, and prepaid cards as mobile wallet funding sources. Mozido will integrate and promote the MasterCard integrated products suite as a part of Mozido’s Mobile Transaction EcoSystem Architecture Framework (MoTEAFTM) so that all Mozido-built mobile payment and commerce solutions will includeMasterPass™, HomeSend, MoneySend™, rePower™, and MasterCard security and commerce services.
“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. “Our mission will be more quickly realized through MasterCard’s global network, brand, and payment and security services.”