MasterCard Partners with Mobile Wallet Infrastructure Provider
Dec. 13, 2012
MasterCard yesterday revealed it has struck a strategic partnership and taken a minority stake in C-SAM, a Chicago-based company that provides infrastructure for mobile wallets. Under the agreement, C-SAM, whose platforms support NFC, QR code and cloud-based transactions, will leverage MasterCard’s digital payment infrastructure to enhance its offering for mobile wallet providers.
“The partnership enables us to more rapidly develop innovative mobile commerce products, and increase the breadth and depth of our services,” said Felix Marx, CEO of C-SAM. “We look forward to working with MasterCard to offer attractive end-to-end mobile solutions for service providers around the globe.”
Financial terms of MasterCard’s investment in the mobile technology company were not disclosed.