MasterCard Forms Joint Venture With Smart Hub

Published June 10, 2010, 9:19 a.m. EDT

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Updated June 11, 2010, 2:13 p.m. EDT

1 Min Read

MasterCard Inc. announced Wednesday that it has formed a joint venture with Smart Hub Inc. to develop a global mobile payment system.

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Smart Hub, a unit of Smart Communications Inc. of Makati, Philippines, provides the mobile payments platform for the venture, and MasterCard provides access to its network. The companies have been working together on an implementation in Brazil announced last year. In that deployment they are working with Itau Unibanco, Redecard, and the mobile network operator Vivo.

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