MasterCard teams with Pitroda-led C-SAM to offer mobile wallet solution

18th May 2012
MasterCard teams with Pitroda-led C-SAM to offer mobile wallet solution

New Delhi, May 18, 2012– Global payments and technology company, MasterCard has joined with the Sam Pitroda-led, US mobile transactions technology player C-SAM, to offer a mobile wallet solution based on the latter's Mobile Transaction Platform (MTP) and seamless integration with MasterCard’s pre-paid platform and PayPass WalletServices. This integrated offering will provide anattractive, scalable and flexible mobile wallet solution to mobile operators,retail banks and payment providers in Asia Pacific, Middle East and Africa looking to launch a wide range of mobile contactless payment services blendedwith offers, coupons and rich value added services to their customers. The joint solution will solve complexities of managing multiple mobile devices& operating systems, secure elements, and connections to multiple third partysystems. Mobile operators and financial institutions will be able to offer abest in breed user experience to their customers while staying focused onrelevant, customizable and profitable mobileservices.
Says Raj Dhamodharan, MasterCard's Regional Head of Mobile and Ecommerce for Asia Pacific,Middle East & Africa: “Our partnership with C-SAM offers telcosin the region a NFC solution that comes pre-packaged with prepaid instanceissuance, TSM integration and coupon redemption at the point of sale and offersa path to a truly multichannel payment wallet through PayPass Wallet Services”
Adds Felix Marx, CEO, C-SAM:“We are very proud to be working with MasterCard to offer this innovative solution. The synergistic combination of MasterCard’s deep expertise in payments systems with C-SAM’s extensive experience in mobilewallet technology and deployments has resulted in a powerful and flexiblesolution that we believe effectively addresses the needs of major playersacross the mobile ecosystem for an integrated mobile services offering.”
Illinois (US) based C-SAM, Inc. is a pioneer in secure mobile transactions technology offering arange of mobile phone based applications for financial as well as non-financialservices. C-SAM is based out of the USA, with operations in Singapore, Japanand India. The Company licenses technology and provides turnkey services tocarriers, banks, merchants, settlement networks, healthcare providers, andlarge infrastructure providers. C-SAM has launched commercial services in theUS, Japan, China, India, Singapore, and Mexico. The founder-Chairman is Indian telecom technology guru Sam Pitroda.