MasterCard Partners with T-Mobile on NFC Mobile Payments in Europe

MasterCard Partners with T-Mobile on NFC Mobile Payments in Europe

Deutsche Telekom AG (FRA:DTE) (PINK:DTEGY)(ETR:DTE)’s T-Mobile and credit card company Mastercard Inc (NYSE:MA) are getting ready to launch NFC Mobile payment systems in Europe. The companies plan to set up the program in Poland around Q3 with other countries, including Germany, soon following after. So far, the United States is not part of the deal.

Rolling out NFC Mobile is a key move for Deutsche Telekom, a large telecommunications company that has ninety-three million mobile subscribers in Europe and 129 across the world. It appears that NFC is poised to go global. Just last Friday, France Telecom announced their plans to roll out NFC-enabled SIM cards to all new subscribers.

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MasterCard and T-Mobile are taking the same path as their new service will also use SIM cards. Deutsche Telekom will work with Clickandbuy, one of its subsidiary company. This will enable them to obtain the e-money license they need to conduct their new business.

The launch in Poland should be more comprehensive whereas the launch in Germany will be a more gradual process.  First off, they will start a trial process with cards and mobile phone tags. This will give those who have phones without NFC capabilities a jumpstart. At the beginning of next year, the companies will introduce the mobile wallet service with a limited choice of bank services and other business partners. They will expand their markets to neighboring regions shortly afterward.

Mastercard explained that it’s a smart collaboration as they would bring the payment expertise while T-Mobile brings the customer base.

As mobile shopping becomes more common, so will mobile wallets. People would rather leave their wallets and other personal information(such as credit or debit cards safe at home).  And since most people take their smartphones everywhere they go, it only makes since they find a way to utilize their multi-tasking devices in transactions.