MasterCard has teamed up with Deutsche Telekom, Telefónica Deutschland and Vodafone to create a new mobile platform and develop mobile payments in Germany.
The agreement was announced on 25 February at the Mobile World Congress in Barcelona.
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Stefano Parisse, group director consumer services at Vodafone explained: "We want to enable banks to reach more of their customers with secure NFC.
"By reducing the cost for banks to integrate and by reducing their time to market, we are confident that we have a model for Germany that will work around Europe".
Peter Vesco, senior vice president business unit payment at Deutsche Telekom added: "We are continuously going forward on our way of making mobile payments become a usual payment method for everyone.
"This cooperation is a further step in this direction".
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By GlobalDataThe three mobile operators represent 80% of German mobile customers and this implies that banks and financial institutions will have the chance to accelerate the ability of providing mass-market mobile payment services to consumers.
Issuing banks will have the chance to connect to Trevica, a MasterCard owned company and access to a number of mobile operators with one single integration to the Trevica platform.
Michael Kurz, vice president digital partnerships at Telefónica Deutschland commented: "Mobile payment has already entered the German market.
"This new partnership will further speed up the use and acceptance of mobile payment and will bring more efficiency and transparency amongst the various players in the market".
Pawel Rychlinski, division president Germany and Switzerland at MasterCard concluded: "By bringing together the best in banking and mobile, we make mobile payments ubiquitous across all networks, just like messaging today".
"Today we announce a game-changer in Germany and during 2014 we will extend to more European countries."
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