Mobile wallet and transactions platform provider C-SAM and MasterCard (NYSE:MA) today announced a global strategic partnership, as well as a minority investment by MasterCard. Additional terms of the agreement were not disclosed.
Founded in 1998, Chicago-based C-SAM provides the end-to-end infrastructure required to operationalize a mobile wallet. This includes back-end management infrastructure, software development kits and on-device software that support secure proximity near field communications ( NFC), bar code, QR code and cloud-based transactions. The C-SAM platform also supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions.
By leveraging the MasterCard digital payment infrastructure including PayPass™ Wallet Services, C-SAM will be able to significantly enhance its current offering and increase the value provided to its customers and consumers.
“Our solutions and services fully complement MasterCard’s core competencies. The partnership enables us to more rapidly develop innovative mobile commerce products, and increase the breadth and depth of our services,” said Felix Marx, chief executive officer, C-SAM. “We look forward to working with MasterCard to offer attractive end-to-end mobile solutions for service providers around the globe.”“This partnership further strengthens our ongoing efforts to work with industry-leading companies to deploy our technologies and help drive innovation and adoption in the rapidly evolving digital payments space,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “C-SAM’s proven track record and expertise in developing mobile platforms, combined with our worldwide network and suite of industry-leading payments solutions, will help enable us to deliver new, innovative solutions to a wide range of global customers.” Today’s announcement builds upon an existing marketing and commercialization relationship formed earlier in 2012. The potential of the partnership was evident when Singapore-based StarHub launched its NFC-based SmartWallet mobile app in early August 2012. “C-SAM and MasterCard played a vital role in the development of our secure digital wallet service, enabling our customers to conveniently shop, pay for transport, redeem discount coupons and use digital credit or debit cards securely with a single tap of their NFC-enabled smartphone,” said Ms. Yeong Mun-Ling, vice president of business strategy, StarHub.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV