MasterCard Makes Its First Mobile Payments Investment in mFoundryPosted by admin on November 30, 2011
11/30/2011 – AllThingsD, Tricia Duryee
MasterCard has made a strategic investment in seven-year-old mobile banking start-up mFoundry.
The investment marks MasterCard’s first in the mobile payments space, and follows similar moves by both Visa and American Express.
Neither company is releasing terms of the round, but mFoundry said MasterCard was the lead investor. Intel Capital, Fidelity Information Services and Motorola Mobility also participated. Previous investors include PayPal, Bank of America and Ignition Partners.
Consumers will most likely recognize mFoundry for developing the Starbucks mobile application, which displays a bar code that can be scanned at the register to make payments from a prepaid account…