MasterCard and Telefonica’s Joint Venture Unveils Brand Name
Miami and Madrid, February 23, 2012 – 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.
Marco Sá, the joint venture’s lead executive for technology and operations, has over 15 years of experience in management positions in financial institutions such as Banco Itau, Chase Manhattan Bank and Citibank, where he was responsible for the technical implementation of products and services, and the integration of technology platforms and operations.
The joint venture’s lead executive for sales and marketing is Pablo Montesano, who previously served as Telefonica’s global director of Financial Services. In that role he built and managed Telefonica’s financial services teams across Europe and Latin America, where he led a number of initiatives including co-branded card programs, Movistar’s and O2′s prepaid mobile wallet, NFC payments and mobile insurance.
Rodolfo Duran is the joint venture’s lead executive for strategy. He was previously a Principal for MasterCard Advisors Latin America, MasterCard Worldwide’s consulting arm focused on the payments industry, where he built customized solutions that addressed complex challenges throughout the payments lifecycle, helping financial institutions maximize the value of their payments businesses.
“I’m proud to be a part of this joint venture, and am ready to embark on this new challenge with great enthusiasm and commitment. Backed by a strong brand and with a talented leadership in place, Wanda has an opportunity to have a strong and positive impact on the economic development of the region,” said Regueros.
The company’s Latin American operations will be headquartered in Miami, Florida. Today, the company has over 50 employees in the region.
Wanda is a joint venture created by MasterCard and Telefónica to develop mobile financial solutions in the 12 countries in Latin America where Telefónica operates through the Movistar® brand. Wanda focuses on integrating the mobile phone’s advantages of convenience, ease and accessibility with the security, reliability and unsurpassed acceptance of electronic payment systems, through an open model, to ensure interoperability between the unbanked and banked segments.
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mobile Payment Solutions (MPS) is a joint venture between MasterCard and Smart Hub Inc. that provides mobile payments processing and gateway services. MPS enables interoperability through the MasterCard Worldwide Network, providing comprehensive solutions that facilitate payments between mobile network operators, financial institutions and third party systems. Follow us on Twitter @MasterCardNews, join the conversation on The Heart of Commerce Blog and subscribe for the latest news.
Telefónica is one of the largest telecommunications companies in the world in terms of market capitalisation. Its activities are centered mainly on the fixed and mobile telephony businesses with broadband as the key tool for the development of both. The company has a significant presence in 25 countries and a customer base that amounts close to 300 million accesses around the world. Telefonica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy.
Telefonica Digital is a global business division of Telefónica created to seize the opportunities within the digital world and deliver new growth for Telefónica through research & development, venture capital, global partnerships and digital services such as M2M, eHealth and financial services.
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