Cardholders operating their accounts via handset

[img_assist|nid=8343|title=|desc=|link=none|align=left|width=100|height=79] A mobile payments service will be provided to credit card holders under the partnership of MasterCard and California-based Obopay. MasterCard will offer P2P money transfer system, MoneySend, to issuing banks which should deliver a mobile payments service to cardholders on all credit, debit and prepaid MasterCard-branded products.

With the new system cardholders which underwent the registration procedure can securely send and receive funds through any mobile phone. Payment accounts of users stay unexposed, as when sending and receiving funds, the account holders use their mobile phone numbers.

"The power and breadth of the MasterCard network combined with the account relationships of MasterCard issuers and Obopay's mobile payment technology enable us to offer valuable new services for consumers throughout the US, allowing consumers to easily transfer funds to their friends and families," notes Art Kranzley, chief emerging technology officer, MasterCard Worldwide.

International payments are another plan of the company which has already taken some steps in this direction. Last year MasterCard announced it was going to collaborate with GSM wireless network operators to pilot a remittance system using mobile payments technology.

The project implies conjoint work of the MasterCard MoneySend system and the mobile phone operators of the GSM Association. Its objective is to serve people without access to traditional bank accounts and other banking infrastructure.