This newly forged relationship will leverage each company’s respective strengths in order to offer mobile operators, mobile subscribers, merchants and financial institutions a flexible and easy-to-use solution for mobile financial services.
First Data is continuing to identify technology providers who will support our efforts to deliver a new generation of mobile phone-enabled payment services to financial institution and merchant clients, said Sara Bonn, chief product and innovation officer at First Data Financial Institution Services. The adoption by wireless operators and financial institutions of the Spotlight Financial Platform was a critical factor in our selection of mFoundry as a mobile partner. As a leader in e-commerce and payments solutions, mobility is a critical part of First Data’s product roadmap.
As part of the agreement, First Data plans to offer mFoundry’s Spotlight mBanking solution, which intends to provide the technology necessary to bring a wide array of financial services to US and international markets.
In addition, First Data will work with mFoundry to offer its stored value and credit products in conjunction with the Spotlight solution, with the goal of delivering flexible, easy and convenient features – such as balance inquiries and transaction history – to consumers.
Both companies have also agreed to pursue opportunities as they arise, to support near field communication solutions that will be rolled out by mobile operators, merchants and financial institutions.
