Vodafone, Visa Team for M-Payments

NEWBURY, U.K. -- Vodafone and Visa today announced a worldwide partnership to enable consumers to pay for goods and services using their mobile phones instead of coins and banknotes.

The companies will work together to develop a Vodafone-branded proposition that will be offered to consumers across Vodafone’s 398-million customer base in more than 30 countries across five continents, enabled by Visa’s outstanding payment network, product suite and brand. The partnership - the largest of its kind between a global payment network and mobile operator - combines the companies’ global reach and expertise to bring Visa payment functionality to consumers around the world.

The new Vodafone mobile payment proposition announced with Visa will be based on the Visa prepaid account and offered to consumers in partnership with Visa Issuers. The service will initially be launched in Germany, the Netherlands, Spain, Turkey, and the UK, starting in the coming financial year. Other countries within Vodafone's global portfolio will follow.

In addition to the Vodafone-branded stored value account inside the mobile wallet, Vodafone and Visa will work together to enable Visa Issuers for mobile payments globally. The platform will be open to all partners of all relevant industries, including financial institutions, retailers, transport and utility companies to host their services within an innovative new Vodafone mobile wallet.

Vodafone Group plc (NYSE: VOD)