MasterCard and Telefonica announced on Tuesday, 22/11, the creation of a joint venture to offer mobile financial services to 65 million customers of Vivo in Brazil.
The proposal is to make cell phones are a means of conducting transactions such aspayments, funds transfer and online shopping. The new company will takeindependent action, and each party will hold a 50% stake.
According to the two companies, the service will further strengthen the acceptance ofmobile payments in activities that traditionally only work with cash transactions, such as taxis, delivery services and sales door to door. Arrival in Brazil expands the partnership between the companies in Latin America. In the region, the service is offered by Movistar flag, which represents Telefónica.