MasterCard and Telefónica Create a JV to Offer Mobile Financial Solutions

MasterCard MA and Telefónica announced today a joint venture to lead the development of mobile financial solutions in 12 countries in Latin America where Telefónica is present with the Movistar® brand. This is a first-of-a-kind initiative where a payments and telecommunications company partner to create a new company focused on integrating the convenience and accessibility provided by mobile phones with a set of financial solutions that will work with existing electronic payment systems.