MasterCard and Telefonica’s Joint Venture Unveils Brand Name
MIAMI & MADRID — MasterCard (NYSE: MA) and Telefónica’s joint venture, created to lead the development of mobile financial solutions in 12 markets in Latin America, unveiled today its new corporate and consumer brand, Wanda, and the team that will lead this initiative.
Wanda will provide mobile payment solutions to the over 87 million Movistar customers in the 12 markets where it will operate. These mobile payment services will be linked to a mobile wallet or prepaid account that will allow for money transfers, mobile airtime reload, bill payment and retail purchases, among other services. The mobile wallet and prepaid accounts will be available anytime, anywhere in the world.
Mobile Payment Solutions (MPS), with whom Wanda has a global agreement covering the 12 markets where the mobile payment services will be offered, will be responsible for developing and implementing the mobile wallet technology and its services.
Wanda, with its tagline Your mobile money (Tu dinero móvil), is a reflection of the company’s core values of providing proximity, safety, innovation, accessibility and dynamism in the solutions it will offer to consumers in the region.
“We are very pleased to announce the brand through which we will develop this mobile payments initiative,” said Richard Hartzell, President, MasterCard Latin America and Caribbean region. “Through this powerful brand and its team’s leadership and insight, I am convinced that Wanda is headed toward becoming a leading force behind mobile payments in the region, driving economic growth and promoting financial inclusion.”
“The creation of the brand is a key milestone for the MasterCard and Telefónica joint venture in Latin America,” said Joaquin Mata, Global Head of Financial Services for Telefónica Digital. “Wanda and its newly appointed team are in good shape to continue building the foundation of a strong company that will be focused on offering a complete set of innovative mobile payment solutions that will give access to financial services to the unbanked population in the region.” Wanda is a crucial element of Telefonica’s global financial services strategy, all of which is now managed through its new Digital business unit formed last year to seize opportunities in the digital world.
Sergio Regueros is the lead executive for the joint venture. Mr. Regueros has been with Telefónica for 7 years, where he has held a variety of senior management roles in Latin America and Spain. Most recently, he was regional director for Telefonica’s mobile business for northern Latin America (Mexico and Central America). Previously, Mr. Regueros served as president of Telefónica Móviles Colombia, a position he took over when Telefónica acquired BellSouth Colombia in 2004. Prior to this, he held various general management and business development positions at BellSouth International and Empresa de Telecomunicaciones de Bogota.
The company’s lead executive for finance, Wes Rivel, has spent 12 years at MasterCard Worldwide fulfilling a series of senior positions in business planning, finance, pricing and risk management. Most recently, he was senior vice president of Market Models & Business Strategy, Market Development, for MasterCard Latin America and the Caribbean.
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