A partnership led by MasterCard Worldwide is trying to provide to mobile-phone users worldwide–and especially those in emerging markets–such formal financial services as funds transfers, bill payments, and purchases at brick and mortar and online merchants.

The MasterCard Mobile Money Partnership Program combines the efforts of MasterCard (payment processing), Comviva (mobile services beyond value-added services), Sybase Inc. (mobile information services) and Utiba Mobility Inc. (mobile wallet services) to help a market the partners describe as 2.5 billion consumers with phones who are underserved financially (see release).

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