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Telefonica Forms Alliance with Visa Europe for Mobile Money Services
Published on:
Telefónica Digital and Visa Europe have agreed a partnership to co-invest in the development of products and services in areas such as mobile wallet, contactless payments (NFC), acquirer services for mobile point of sale, and merchant offers.
The agreement builds on Telefónica and Visa Europe's existing relationship in markets such as the UK and Ireland, formalising it at a Europe-wide level and establishing Visa Europe as Telefónica's preferred partner for the issuance of branded payments cards and the development of related mobile payment services.
Within Europe, Telefónica has already launched a mobile wallet service to customers in the UK and is working to launch mobile wallets across its other operating businesses.
'Visa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products,' said Joaquin Mata, Director of Financial Services at Telefónica Digital. 'This market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities.'
In addition to Visa Europe, Telefónica has recently formed partnerships with Sybase and Giesecke and Devrient.
Tags: [telefonica] [visa] [nfc]
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