MasterCard mimics direct carrier billing model with new Veon pact
MasterCard has announced a new business relationship with Veon, a communications provider, that will bring Masterpass to the new Veon platform.
Veon provides voice, fixed broadband, data and digital service to approximately 235 million customers in 12 markets. As part of its new platform, the Amsterdam-based company plans to offer subscribers the ability to manage accounts, top up data, and buy content, products and services through Veon partner companies.
With the integration of Masterpass, Veon platform users can benefit from fast, secure one-click payments to buy mobile airtime or make e-commerce purchases. Masterpass stores all payment information, including card details from MasterCard and other payment networks, in one convenient place, according to a press release.
To complete a transaction, Veon users simply tap the Masterpass button within the platform.
"Buying things on the internet must be easy and seamless, otherwise money gets left on the table," A.J. Hanna, Veon chief mobile financial services officer, said in a statement. "That is why this partnership with MasterCard is so important. Veon users will be able to discover, shop, and consume on Veon with one click through Masterpass."