Leading multinational financial services company MasterCard teams up with Syniverse, a cloud-based mobility solutions company, to come up with a service that lets customers link their credit cards to their smartphones geographically. This is to prevent their cards from being blocked when they pay abroad.
The two companies, other than the main objective of teaming up, are also trying to add other services such as the choice to buy pre-paid data packages that clients can use as they arrive at their destination. This setup also does away with roaming fees that normally annoy credit card owners.
Hany Fam, one of the key executives of MasterCard, said that the collaboration will open up a new range of possibilities for their loyal clients. Through the speed and intelligence of the finance company’s network, the cards are allowed to work anywhere in the world. Syniverse, on the other hand, presently operates in 200 places.