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MasterCard VimpelCom team up to provide mobile money globally

Global payment processor MasterCard and VimpelCom have entered into a strategic partnership agreement to offer latest payment services to both banked and underserved customers.

Under the terms of the agreement, the US-based payment technology company will provide mobile money services to VimpelCom’s 212 million customers in 18 nations, across the globe.

VimpelCom group chief commercial and strategy officer Mikhail Gerchuk said, "This collaboration will also help us to strengthen our customers’ experience by offering value add services including, but not limited to person to person payments, bill payments and mobile commerce."

Both companies have identified markets for the launch of mobile money services, a prepaid program in Italy for Wind Italy’s customers, in partnership with CartaLIS.

Italy will be the first country where the program will be launched in 2013, while rest of the countries and market deployments will leverage the complete range of both companies’ complementary services suites, at a later stage.

MasterCard is a global payments processing network provider that connects consumers, financial institutions, merchants, governments and businesses in over 210 countries and territories.