Article

  Comment(0)

 
Share:    Email  

Telefonica moves into Argentina's mobile money market

Shane Romig

Thursday, May 24, 2012 - 11:59

Spain's Telefonica SA and MasterCard on Wednesday launched a mobile money service in Argentina with an eye on millions of wireless users who don't have a bank account.

Spain's Telefonica SA and MasterCard on Wednesday launched a mobile money service in Argentina with an eye on millions of wireless users who don't have a bank account.

Telefonica and Mastercard plan to eventually offer the service, dubbed Wanda, in a dozen Latin American countries through a 50-50 joint venture.

Wanda is based on a virtual prepaid debit account linked to a cell phone. Argentine users can transfer money between Wanda accounts, buy air time, make purchases at participating stores, and soon will be able to pay bills, Wanda general manager Ramiro Gomez said.

Click here to find out more!"We're mainly focusing on people outside the banking system," which is as many as 50% in Argentina, Gomez said at a press conference Wednesday.

Many Argentines shun banks due to the country's long history of banking crisis. For people living in the rural hinterland, bank branches are few and far between.

"We're offering a solution to someone who doesn't have a bank card," Gomez said. 

Read the full story by clicking the link below
http://www.totaltele.com/view.aspx?ID=473822
 
Tags: Mobile Banking, Mobile Money Transfer, Americas, MasterCard, Mobile Money, Telefonica, Argentina, Wanda

Sponsored Links
 

 

  Article

   Comments(0)

 
Login or register to post comments
[Show comment]

Stay Connected

 
Sign Up for the Latest in:
 
 
Mobile Money Transfer
Mobile Commerce
Micro Finance
Mobile Technology
EMEA
APAC
Mobile Payments
Mobile Banking
Mobile Marketing
Global
Americas
Company
(*)
 

MOST POPULAR

HEADLINES

1.Apple a decade behind Japan’s mobile payment curve
2.Monitise revenues rise but losses grow
3.Paytm allows digital wallet users to transfer money between them
4.China’s WeChat Introduces In-store Payments for Nine Retail Cha
5.The SUBWAY® Restaurant Chain Selects Softcard™ as Key Strategi
6.Why Apple Pay could succeed where others have had underwhelming r
7.Growing Demand for Mobile Banking Hurts Small Institutions
8.McDonald’s Uses QR codes and Mobile Marketing for NFL Campaign
9.United Way, the World’s Largest Charity, Now Accepting Bitcoin
10.Zamtel to launch mobile money

FEATURED COMPANIES

MOST POPULAR

BLOGS


 
 

Mobile Financial News from around the web

 
 
 

Inside the DonRiver Network