MasterCard buys into mobile banking – Mobile World Live

MasterCard buys into mobile banking

01 DEC 2011

MasterCard is leading an investment round in mFoundry, the mobile banking firm behind the popular Starbucks payment app. This is the credit card giant’s first investment in the m-payments market and follows similar investment by rivals Visa and Amex.  mFoundry is set to release details shortly of its latest financial round which involves MasterCard alongside Intel Capital, Fidelity Information Services and Motorola Mobility, says AllThingsD. The mobile banking firm will also cooperate with MasterCard on developing new services. In addition to the Starbucks app, mFoundry works on less high-profile mobile banking apps including for Citi and Bank of America. The link-up with MasterCard will involve taking those apps and adding NFC capability to them.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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