Telefónica Germany, Telekom and Vodafone have announced
they will "register their payment service 'mpass
' as its own company, and have signed a letter of understanding to this effect. The new company is due to begin operating as early as this year."
Dr. Peter Walz, Member of the Management Board and Director of Wholesale & Strategy at Vodafone Deutschland: 'For many years now we have offered an interoperable payment product across all networks with payments via the phone bill. This is now being continued in the shared mpass activities. Retailers want standardised solutions and that is what we are giving them with mpass.'
The new initiative will move mpass transactions from the online payments world to NFC-enabled offline POS world.