Featured Story
Intel and telcos left in virtual RAN limbo by rise of AI RAN
A multitude of general-purpose and specialist silicon options now confronts the world's 5G community, while Intel's future in telecom remains uncertain.
Visa becomes Telefónica's 'preferred mobile payments partner' in Europe
July 6, 2012
MADRID -- Telefónica Digital and Visa Europe today announce that they have agreed a wide ranging strategic partnership to drive new business opportunities within mobile commerce across Telefónica’s European footprint. The agreement will see both companies co-invest in the development of innovative products and services in areas such as mobile wallet, contactless payments (NFC), acquirer services for mobile point of sale, and merchant offers.
The agreement builds on Telefónica and Visa Europe’s existing relationship in markets such as the UK and Ireland, formalising it at a Europe-wide level and establishing Visa Europe as Telefónica’s preferred partner for the issuance of branded payments cards and the development of related mobile payment services.
Mobile commerce is a key focus area of Telefónica’s new Digital unit which was formed to drive business opportunities within the digital space. Within Europe, Telefónica has launched a mobile wallet service to customers in the UK and is working to launch mobile wallets across its other operating businesses.
The relationship with Visa Europe will support the continued development of these services, while also helping to identify and drive new business opportunities in areas such as merchant offers, mobile point of sale, and contactless/NFC payments. It combines Visa’s scale and expertise in payments with Telefónica’s European mobile footprint, strong consumer brands and existing experience in mobile payments. The partnership will also provide Telefónica with access to expertise within the network of Visa’s partner companies.
Telefónica SA (NYSE: TEF)
You May Also Like