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mPay and MasterCard establish a closer co-operation on the mobile payments market

A new deal in mobile payments – mPay and MasterCard® launch mobile payments as a part of the payment card balance. In mid-July, mPay together with MasterCard are launching mobile payments for millions of MasterCard payments cards’ users in Poland. This innovative solution on a European scale allows the user to get direct access to his/her funds when making payments with the use of a mobile phone, without the need to make an earlier transfer of funds to the electronic purse’s account.

The possibility of connecting the payment card directly to the mPay system represents another phase of the initiative taken by MasterCard to make mobile payments more popular in Poland. The aim of the initiative implemented with the participation of mPay is to develop a common standard of payments made with the use of a mobile phone in a manner which is safe and convenient for users.

The innovative nature of the service to be launched in mid-July consists in providing the holder of a MasterCard payment card with an option to credit the mPay account directly via his/her mobile phone while making the transactions. In order to use that option, the mPay user simply activates the card in the system on a one-off basis and obtains the possibility of making mobile payments directly on the account of funds supplied directly via MasterCard payment card. The transactions made with the use of the payment card are secured by the CVC2 code given by the user when making the transaction. It is a substantial improvement of the model used to date which required that the electronic purse be credited earlier by a bank transfer, which will translate both into a higher speed of payments and convenience of users enjoying mobile payments.

According to Krzysztof Drzyzga, Innovative Product Development Manager of MasterCard, abandoning of the model of pre-paid electronic purse for transactions made with the use of the MasterCard payment card represents another improvement for persons using mobile payments via mobile phone. Promoting similar applications of payment cards is of a great significance for popularization of cashless payments in Poland. Co-operation with mPay is going to allow for joint promoting new applications of payment cards in remote payments, e.g. parking fee, public transport tickets or Internet transactions.

”It is another important step for popularization of that form of payments among Polish users. It is no longer required to make a transfer when activating the account in order to allocate funds for payment via mPay, but simply to activate the card in the system and then the MasterCard becomes the source of our mobile payments. More importantly, it is made in a safe manner and in compliance with all procedures applicable to card transactions, required by the payment organisations. The user enters only the number of his/her card and its expiry date in the mPay system. Transactions are confirmed while being made with the CVC2 code on the card’s back which is known only to the card holder. It is an innovative solution on a European scale which may revolutionise the Polish market of mobile payments,” said Piotr Warsicki, President of Management Board of mPay S.A.

mPay S.A. has developed an innovative technology making financial transactions via mobile possible. The company operates as a billing agent providing telcos and banks with a flexible mobile payment platform. mPay was recognized as one of the ten most innovative service providers in the world at the 2008 GSMA Congress in Barcelona. It was the first company in Poland to obtain an approval of the National Bank of Poland for settling payments using mobile telephones.
mPay is a subsidiary of the ATM Capital Group.
For more information, visit www.mpay.pl.

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