Telefónica Digital and Visa Europe have agreed a wide ranging strategic partnership to drive new business opportunities with both companies to co-invest in the development of products and services in areas such as mobile wallet, contactless payments (NFC), acquirer services for mobile point of sale, and merchant offers.
Visa will also take up the role of Telefónica’s preferred partner for the issuance of branded payments cards and the development of related mobile payment services.
“Visa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products,” said Joaquin Mata, director of financial services at Telefónica Digital. “This market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities.”
With Amazon and Google launching smart home initiatives, have the telcos missed out on their chance to cash in on this market?
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