MasterCard Intros Mobile Payment Platform

June 17th, 2009

Marin Perez at InformationWeek reports that MasterCard has rolled out in the United States a payment service that enables users to do person-to-person transfers with their cell phones or smartphones. The service, called MoneySend, is a technology collaboration with Obopay, and it lets customers send and receive funds through text messages, mobile browsers, dedicated mobile applications, and a desktop PC. The company said this service is a flexible solution that has multiple real-life applications. One example is that parents could use it to send money to college kids, and it could potentially be used for virtual goods in social networks as well.