DT, MasterCard Team UpDT, MasterCard Team Up

BERLIN -- MasterCard (NYSE:MA) and Deutsche Telekom today announced a European partnership to enable consumers to use their mobile phones as a convenient and secure way to pay.

At a press conference in Berlin today, Deutsche Telekom and MasterCard highlighted the importance of their partnership and the introduction of mobile payments - one of the fastest growing consumer services in the last five years. The partnership aims to make mobile payments a reality for Deutsche Telekom’s93 million mobile customers across Europe.

The first consumer roll-out will take place in Poland later this year. Also this year German consumers will be introduced to mobile payments, initially in a trial with mobile phone tags and cards, continuing into the first half of next year with a mobile wallet service which will also be open to other issuing banks and partners. Deutsche Telekom will issue the MasterCard products via its subsidiary company ClickandBuy, the owner of an e-money licence. Products will also be launched in other European markets.

Deutsche Telekom AG (NYSE: DT)