MWC2014: MasterCard buys C-SAM, intros in-app payments

Fiona Chau
25 Feb 2014
00:00

MasterCard is stepping up its push into mobile payment market by acquiring NFC technology provider C-SAM and launching a new developer program to embed its payments service into mobile apps.

The global credit card brand announced yesterday at Mobile World Congress that it has agreed to buy C-SAM, a provider of mobile wallet and on-device software and services. MasterCard invested in C-SAM back in 2012.

C-SAM’s on-device application and back-end infrastructure will aid development efforts to enable consumers to use MasterPass both in-store and online across multiple communications technologies, including NFC, QR/barcodes and remote checkout.

Ed McLaughlin, chief emerging payments officer at MasterCard, said the acquisition “will help us launch a wider range of mobile and virtual solutions better and faster – bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants.”

C-SMA’s has processed mobile payment services for a number of customers in Asia, including DNP (Japan), Eftpos (Australia), and Starhub (Singapore). It is also the transaction provider behind Isis in US, the NFC-powered payment service of Verizon, AT&T and T-Mobile.

Financial terms of the deal were not disclosed, but it's expected to close by the end of first quarter.

At the same time, the company also announced MasterPass in-app payments, which lets consumers make purchases within a mobile app.

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