January 14, 2015/MasterCard

MasterCard and Movistar announced the launch of “Tu Dinero Movil“ (Your Mobile Money), the first mobile money service in Peru. This solution was developed by both companies to enable financial inclusion for the more than 16 million Movistar users across country.

Customers will be able to access an electronic account that will link their telephone number to their “Your Mobile Money” card. This account will allow services such as sending and receiving money from a cell phone, making card purchases anywhere MasterCard is accepted and replenishing the balances of owned or third-party mobile phones.

MasterCard Peru General Manager, Juan Antonio Cabanas said of the partnership: “This project complements the various efforts based on mobile technology focused on financial inclusion that are starting to be promoted in the country.”

To learn more about the partnership, please read the full press release.