MasterCard enters mobile-wallet space with mFoundry funding

12/1/2011 | All Things D · GigaOm

MasterCard has joined rivals Visa and American Express in the mobile-payment arena by investing in mFoundry, a startup that supplies mobile-payment applications to hundreds of banks and credit unions. The deal would convert those apps into mobile-wallet tools by giving mFoundry's clients the ability to support MasterCard's near-field communications PayPass system. MasterCard was described as the lead investor; other contributors included Intel Capital, Fidelity Information Services and Motorola Mobility.

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All Things D · GigaOm

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