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Financial and marketing services company Mozido Inc. says it will use MasterCard Inc. payment and security products to expand its services.
Austin, Texas-based Mozido provides mobile payments, loyalty and offers programs to merchants, and has a white-label mobile app.
This move means that Mozido products will include MasterPass, MasterCard’s digital wallet; money-transfer service HomeSend; ATM-based person-to-person service MoneySend; and rePower, a prepaid card reload service.
Mozido currently supports MasterCard credit, debit and prepaid cards as funding sources.
Mozido’s services are targeted to the global pool of 2.5 billion unbanked individuals who have a mobile phone, but lack access to traditional banking services, the company says.
“This partnership will help to accelerate my vision to bring hope, opportunity, and financial fairness to the financially disenfranchised around the world, through mobile financial services,” said Michael Liberty, Mozido founder, in a press release.
Mozido earlier this year added more payments options for its white-labeled mobile apps through an agreement with merchant processor SecureNet Payment Systems. And, late last year, the company announced a person-to-person payment service that will allow users to pay others nearby using Bluetooth Low Energy.
