Mobile Payments to Deliver ‘BOKU’ Bucks with MasterCard Prepaid and PayPass

Another day, another headline for mobile payments.

On Thursday, MasterCard and BOKU a global provider of online mobile payments – announced a partnership that will enhance the shopping experience for consumers. How so? By allowing them to make payments, receive discounts and targeted offers, and monitor spending – all from their mobile phones whenever MasterCard PayPass is accepted.

The Boku partnership, which highlights yet another move by MasterCard to claim another chunk of the mobile payments space, is being gregariously hyped by both partners.

“BOKU Accounts brings together the best parts of mobile payments and technology, leveraging NFC, smartphones and global payment networks for a better consumer experience, using the device in your pocket to improve every transaction you make, anywhere in the world,” said Ron Hirson, BOKU President. “Working with MasterCard gives our MNO partners confidence that their subscribers can make a payment anywhere MasterCard is accepted.”

Offered through a mobile subscriber’s mobile network operator BOKU Accounts with MasterCard Prepaid gives consumers a convenient way to pay while on the go. Account holders use a MasterCard Prepaid card or PayPass-enabled device to make purchases anywhere MasterCard is accepted with a simple swipe or tap.

“For more than a decade, MasterCard has pioneered technology that’s turned mobile phones into devices for making safe, easy payments across a global network,” said Mung Ki Woo, Group Executive, Mobile at MasterCard. “This partnership with BOKU gives MNO customers the power and convenience of MasterCard mobile prepaid with PayPass to make purchases in stores or on-line at millions of merchants worldwide with their mobile phones or companion cards.”