Mobile wallet and transactions platform provider C-SAM and MasterCard announced a global strategic partnership, as well as a minority investment by MasterCard. Additional terms of the agreement were not disclosed.
Founded in 1998, Chicago-based C-SAM provides the end-to-end infrastructure required to operationalize a mobile wallet. This includes back-end management infrastructure, software development kits and on-device software that support secure NFC, bar code, QR code and cloud-based transactions. The C-SAM platform also supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions.
By leveraging the MasterCard digital payment infrastructure including PayPass Wallet Services, C-SAM will be able to significantly enhance its current offering and increase the value provided to its customers and consumers.
‘Our solutions and services fully complement MasterCard’s core competencies. The partnership enables us to more rapidly develop innovative mobile commerce products, and increase the breadth and depth of our services,’ explains Felix Marx, CEO, C-SAM. ‘We look forward to working with MasterCard to offer attractive end-to-end mobile solutions for service providers around the globe.’
The announcement builds upon an existing marketing and commercialization relationship formed earlier in 2012. The potential of the partnership was evident when Singapore-based StarHub launched its NFC-based SmartWallet mobile app in early August 2012.
‘C-SAM and MasterCard played a vital role in the development of our secure digital wallet service, enabling our customers to conveniently shop, pay for transport, redeem discount coupons and use digital credit or debit cards securely with a single tap of their NFC-enabled smartphone,’ comments Ms. Yeong Mun-Ling, vice president of business strategy, StarHub.