The m-payment joint venture between Telefónica and MasterCard (MA) has a brand name: Wanda.
The offering is expected to provide mobile payment solutions to more than 87 million Movistar customers in the 12 markets where it will operate. The JV was created to develop mobile financial solutions across Latin America.
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According to the companies, mobile payment services will be linked to a mobile wallet or prepaid account that will allow for money transfers, mobile airtime reload, bill payment and retail purchases, among other services. Wanda is expected to help the development and implementation of mobile wallet technology and services.
With the tagline “Your mobile money” (Tu dinero móvil), Wanda is a crucial element of Telefónica’s global financial services strategy, all of which is now managed through its new Digital business unit formed last year to seize opportunities in the digital world.
The joint venture is headed by Sergio Regueros who has been with Telefónica for seven years having held a variety of senior management roles in Latin America and Spain.
The company’s Latin American operations will be headquartered in Miami. Today, the company has over 50 employees in the region.
