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Monday, September 17, 2012 — 12:56:58 (CDT)
First NFC iPhone with prepaid wallet to launch in Europe
Lisbon, Portugal, Sept. 11, 2012 -- DeviceFidelity and Vincento Payment Solutions Ltd, in partnership with MasterCard today announces the commercial launch for the European version of moneto, the direct to consumer NFC prepaid mobile wallet app for the iPhone. Showcasing the solution at the 2012 MasterCard Europe Prepaid Conference, the companies announced that the UK will be the first European market where they will launch moneto for iPhone consumers.
"After the successful US launch of the moneto mobile wallet earlier this year, DeviceFidelity has partnered with Vincento and MasterCard to bring this innovative popular payment solution to the UK" says Philippe Martineau, VP of Business Development for DeviceFidelity Europe. "The UK is one of the fastest growing prepaid and contactless payments markets, and ranks among the top markets for NFC and contactless POS enablement."
The moneto prepaid mobile wallet uses a combination of the MasterCard® PayPass™ technology and DeviceFidelity's iCaisse4X case to enable tap & go™ payments on the iPhone at nearly 500 thousand merchant locations in 41 countries. Powered by the technology behind Kalixa®, Vincento's flagship prepaid MasterCard card, moneto is a truly comprehensive mobile commerce solution that provides the convenience, control, and flexibility of mobile prepaid payments in a secure and mobile environment.
The moneto mobile wallet service differs from any other mobile NFC program as it will be available to most smartphone users irrespective of wireless carrier. Later this year, iPhone consumers will be able to order the service directly from http://www.moneto.me/. Users will be able to link their bank account or credit card to fund their moneto prepaid accounts. Subsequently, the service will also be available to Android consumers in UK and then to additional European countries.
"Momentum around NFC payments is gathering pace. Following the enormous success of Kalixa, our prepaid MasterCard card, it was a natural to explore how we could develop an NFC offering. In DeviceFidelity and MasterCard we have partnered with truly innovative companies that share a common vision to make payments simple, secure and ubiquitous. moneto is a significant step in achieving that goal," says Kamran Hedjri, Managing Director at Vincento. "From issuing to processing to acquiring, we are proud our payment platform is powering this pioneering product."
Matt Lanford, Head of Prepaid at MasterCard Europe says: "Today's launch is another milestone in the MasterCard strategy to partner with innovators across the industry to deliver simple payments using smart technology, no matter where and on what device consumers choose to shop. I am very pleased that MasterCard is the partner of choice of players developing the next generation of payments for a world beyond cash."
The moneto prepaid MasterCard will be the first prepaid program to offer a mobile payment solution that includes an app for the iPhone allowing users access to their account on a mobile device and enjoy features such real-time balance updates, merchant locator, wallet security and full NFC functionality. moneto also comes with a companion EMV prepaid MasterCard card to give users the ability to access their cash at ATMs, make online purchases, or shop at merchants that do not accept contactless payments.
About moneto UK
moneto is a prepaid mobile wallet application that enables your favourite phones to make mobile payments with a cool technology called Near Field Communications, sometimes abbreviated to NFC. With moneto you can pay for purchases at contactless enabled merchant locations globally. moneto is based on In2Pay® technology developed by DeviceFidelity, Inc. For more information visit us at http://www.moneto.me/ , follow us on Twitter @moneto_me or at facebook.com/monetome
About Vincento Payment Solutions Ltd
Founded in 2006, Vincento Payment Solutions Ltd is a one-stop-shop provider of payment services, processing €2.5 billion yearly for more than 300 merchants.
Vincento became the only pan European prepaid MasterCard issuer in 2010. In 2011, Vincento obtained a Visa European acquiring license which allows it to launch a complete card acquiring offering to the market in addition to its existing issuing and processing services. Vincento powers the award-winning Kalixa prepaid card, launched in 2010, which is available in 32 European countries.
Vincento is authorised and regulated by the Financial Services Authority in the UK.
For more information please visit: http://www.vincento.co.uk/ .
DeviceFidelity, Inc. develops plug-and-play technologies that empower a variety of institutions to deploy their services and applications on millions of mobile phones worldwide. Its patented In2Pay® microSD and In2Pay iCaisse solution transform popular mobile phones into an interactive contactless transaction device. Committed to bringing contactless innovation to the mobile phone, the company launched moneto, the world's first multi-platform mobile wallet in the US. DeviceFidelity is a private corporation with headquarters in Richardson (Texas) and offices in San Mateo (California), London (UK) and Aix-en-Provence (France). For more information visit http://www.devicefidelity.com/ , follow us on Twitter @devicefidelity and at facebook.com/DeviceFidelity.
About MasterCard Worldwide
MasterCard (NYSE: MA), http://www.mastercard.com/ , is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone.@MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
Source: Company press release.
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