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Highlights / Key Facts:

Now, iPhone users have a fully secure, proven and easy-to-use mobile payments service available at their fingertips. Recently named Technology Pioneer 2010 by the World Economic Forum, Obopay is an innovative mobile payments service provider in the U.S. as well as international markets. Obopay has established partnerships with companies such as Nokia, MasterCard, AT&T and Verizon Wireless.

Obopay iPhone application features include:

• Send money to anyone with a US phone number

• Send money to your kids or anyone 13 years of age or older and track how they spend the money all from your iPhone

• View full transaction history from anywhere

• Receive money free of charge regardless of how many people send you money or the amount you receive

• Set up your account to automatically deposit the funds that you receive into your own bank account without having to manually intervene

• Request money from contacts

• Receive a Push Notification when you get a request for money

• Check the status of a request anytime, from anywhere

Some of the more popular uses of Obopay include:

• Parents sending money to children: Parents can instantly send money to their teens – or any family member – using Obopay on the iPhone.
  • Obopay is a unique application in the App Store that allows parents to set up controlled accounts for their children and see at a glance where the kids are spending the money, schedule recurring “allowance” payments into the account and send emergency money to family members. It also prevents the danger of children incurring overdraft penalties or interest charges or potentially damaging their parents’ credit.
  • Teens receive a prepaid card with their name embossed on the card and immediately can access the received money at any ATM or merchant location which accepts cards.

• Splitting the bill: One no longer needs to worry about friends not having exact cash at dinner when splitting the bill, because they can pay you back on the spot with Obopay.
• Small and medium-sized merchants: Small and medium-sized merchants such as gardeners, babysitters, contractors and online merchants now can be paid instantly through a secure environment creating efficiencies and greater convenience.
• Obopay leverages Apple’s iPhone OS platform and alerting capabilities by giving users comfort that their payment was successfully sent and received.
• Obopay offers a companion MasterCard prepaid card, thus enabling iPhone users to have up-to-the minute awareness of their available balance and recent transactions.
• It’s free to download Obopay to your mobile phone, sign up for the service, access your account information as well as receive money. Sending money costs as little as $0.25 per transaction.

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In this trial, participants will use PayPass(TM) Mobile Tag-equipped BlackBerry smartphones to make secure purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass.

For the first time, the mobile payment will integrate with the device, with a confirmation email of each transaction sent to the BlackBerry smartphone, including purchase details such as the amount, retailer and date of transaction.

How it Works

The mobile payments in this trial are made possible through a PayPass Mobile Tag, a self-adhesive device that may be attached to a BlackBerry smartphone to add MasterCard PayPass contactless payment capability. The Mobile Tag contains the same chip and antenna found in a regular PayPass card, with the addition of special material to reduce interference between the Mobile Tag and the phone to which it is attached.

Whether consumers are using a PayPass enabled mobile phone or credit card, they enjoy the same protections from fraud with PayPass as they would with conventional MasterCard payments. PayPass is supported by robust, multi-level security protections including the encryption of PayPass radio frequency transaction transmissions and the multiple security protections of the MasterCard payment system.

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Itau Unibanco and Redecard, along with mobile network operator Vivo, will be the first to use the MasterCard Mobile Payments Gateway to deliver mobile payment solutions to the banks’ customers in Brazil. The service will give consumers the ability to use their phone as a mobile wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their mobile phone to fund mobile-initiated payments.

The Mobile Payments Gateway is a turnkey mobile payment processing platform that allows issuers, acquirers, merchants and mobile network operators to quickly and cost-effectively provide customized mobile solutions in developing payments markets by tapping into the MasterCard Worldwide Network, the payments industry’s only fully globally integrated network. As a result, banked and unbanked mobile consumers gain access to a wide range of MasterCard Mobile payments solutions that provide greater payment convenience and security over cash–using their mobile phone to make purchases, send and receive money between family and friends, transfer funds between accounts, pay bills, deposit funds such as payroll or social benefits, top up mobile airtime, load value to prepaid accounts, get cash from ATMs, and keep track of their balances and activities with mobile alerts.

MasterCard is working with Smart Hub, Inc. (SMART HUB, a subsidiary of Philippine-based Smart Communications, Inc.) to leverage its mobile payments technology to develop the MasterCard Mobile Payments Gateway. Requirements for development of a mobile payments infrastructure vary from market to market. By integrating SMART HUB’s capabilities, MasterCard has created an open mobile payment processing platform through the MasterCard Payments Gateway to facilitate the launch of MasterCard Mobile payment solutions in developing markets.

MasterCard is helping to transform financial services with mobile innovation to fulfill a global market need. Consultative Group to Assist the Poor (CGAP), an independent policy and research center housed at the World Bank, and the GSMA Association report that there are more than 4 billion people worldwide who have a mobile phone, but far fewer mobile phone users have a bank account- with the number to grow from 1 to 1.7 billion by 2012(1). The Mobile Payments Gateway enables them to benefit from secure and convenient mobile payment services that were previously unavailable to them. At the same time, participants in the mobile payments value chain can realize the significant potential for mobile growth outside of the markets they traditionally serve–providing opportunities for financial institutions to introduce payment and financial services to unbanked consumers and mobile network operators to offer value-added services for mobile payments.

“The Mobile Payments Gateway will help to make mobile payments a way of life for mobile phone users around the world,” said Joshua Peirez, group executive of Innovative Platforms for MasterCard Worldwide. “Through our global, integrated payment network we are efficiently connecting financial institutions, merchants and consumers together to mobilize MasterCard payment solutions in a way that truly reflects today’s on-the-go lifestyles.”

“We are pleased to introduce a mobile payments solution that reinforces our innovative positioning in the market,” said Fernado Teles, managing director, Itau Unibanco Holding. “For Itau, it is important to not only bring cutting-edge products but also ensure that it offers our customers the security and convenience they expect from a banking transaction.”

“The MasterCard Mobile Payments Gateway is complementary with the existing Redecard solutions and we are honored to be part of this project,” says Roberto Mediros, President and CEO of Redecard. “This platform reinforces our leadership in mobile payments solutions. This is a breakthrough for mobile payments around the globe. Democratization and innovative solutions have always been priorities for Redecard and the MasterCard Mobile Payments Gateway is precisely aligned.”

“Vivo, the largest mobile operator in Brazil with over 48 million customers, is a natural choice for this partnership, due to its installed user base and broad service outreach, in more than 3,400 cities nationwide,” according to Hugo Janeba, Vivo’s Executive Vice President of Marketing and Innovation. “This is an important service we are glad to offer to our customers, empowering their connectivity so they can make the most out of their mobile phones. The mobile payments market is an expanding opportunity in the local scenario and we are sure this initiative will be a success.”

“While in the region there are some mobile payments solutions in the market that help unbanked mobile users transfer money or top-up prepaid accounts, these solutions have been limited in providing the breadth of payment transaction services for the underserved consumer to completely manage their finances,” said Richard Hartzell, president, Latin America and the Caribbean region, MasterCard Worldwide. “I am pleased that the Latin America and Caribbean region will be the first to offer the MasterCard Mobile Payments Gateway, which will benefit every constituent in the payments ecosystem–helping financial institutions and mobile network operators reduce their mobile operating expenses and costs to serve consumers while enabling merchants to cost-effectively expand payment acceptance using their mobile phone. This will allow consumers to enjoy a more robust suite of mobile payment services that makes their lives easier.”

Following the launch in Brazil, MasterCard will introduce MasterCard Mobile payments solutions through the Mobile Payments Gateway in select markets around the world.

“Successful growth of mobile payments around the world requires participation, communication and collaboration among all members of the mobile payments value chain,” says Napoleon L. Nazareno, President and CEO of Philippine Long Distance Telephone Company and Smart Communications, Inc. “We are excited to build upon a successful history with MasterCard to advance mobile payments innovation in the industry by delivering compelling solutions that combine the global MasterCard brand and world-class payment network with our extensive digital telecommunications capabilities and world-first wireless data services.”

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