MasterCard selects Sybase for mobile money services

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Sybase 365 says it has been selected to be a preferred mobile money technology provider in MasterCard’s Mobile Money Partnership Program. The program is a global initiative to help the more than 2.5 billion financially underserved consumers worldwide gain access to mainstream financial services through their mobile phones.

The objective of Sybase 365 and MasterCard is to provide banks and mobile operators with an ‘open’ payment solution to enable and enhance the consumers’ mobile commerce experience.

‘Today, only a small fraction of the population in emerging markets has a bank account. We designed the MasterCard Mobile Money Partnership Program to ensure that consumers in these markets have access to safe and convenient forms of financial services via their mobile phones,’ said Mung Ki Woo, group executive, mobile, MasterCard Worldwide. ‘Partnering with leading solution providers such as Sybase 365 extends and accelerates our presence in the mobile money space.’

MasterCard and Sybase 365 will work towards developing and connecting their respective systems and software to provide an integrated mobile money services platform based on MasterCard’s prepaid services and Sybase 365 Mobile Money solution. This platform will allow consumers to transfer funds, pay bills, and purchase goods and services via their mobile phones at millions of physical and online merchants worldwide.