Verizon and Mastercard together for 5G payments

Handshake initialed between Verizon Business e Mastercard in order to support the transaction towards the 5G of the global video industry payments, especially contactless ones. The focus is in particular on the Tap on Phone technology developed by the credit card giant that exploits the interaction between the NFC chips present in the devices and the POS in stores.

5G and payments: Verizon and Mastercard together

The two realities will collaborate on this front within the New York City Tech Hub of Mastercard. The common goal is to develop solutions capable of leveraging the potential of 5G in order to make the management of transactions even more simple, immediate and convenient, for all parties involved, who pays and who collects. These are the words of Sampath Sowmyanarayan, CRO of Verizon Business.

Business needs and customer demands are constantly changing. A key to long-term success is the ability to stay agile and align with financial strategies as well as partners who have the tools and capabilities to innovate the industry. By combining Verison’s intellectual property and 5G technology with Mastercard’s deep knowledge, services and solutions, the partnership is perfectly aligned with what we are striving to achieve at Verizon as creators of solutions that can change things.

Technologies to supply are also in the pipeline personalized shopping experiences, indifferently aimed at the purchase of physical and digital goods. We close with a comment from Linda Kirkpatrick, President of Mastercard for North America.

Undoubtedly, emerging technologies such as 5G and Mobile Edge Computing will redefine how we interact with others, making sure that the most important, including payments, can be done with confidence. Through this collaboration, the Mastercard and Verizon platform that connects billions of customers, businesses, banks and governments around the world will enable change.

Categories:   Digital Economy