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Tesco Bank and MasterCard Form Mobile Pay Partnership

Tim Maytom

Tesco-app.pngMasterCard has announced a strategic partnership with Tesco Bank that will aim to enhance the mobile and digital payments options available to customers at the retailer, as well as identifying and delivering new safe and secure digital payment solutions for customers, whether they are shopping in-store, online or via mobile devices.

"Tesco has recognised how important mobile and digital payments are for customers," said Mark Barnett, president of MasterCard UK & Ireland. "As today's shopper's shift between online, mobile and in-store transactions depending on the circumstances, this partnership will strengthen Tesco's payment offerings with new safe, secure and convenient solutions for customers."

Details on exactly what the partnership will entail are scarce, and it is not yet known whether consumers who have accounts with Tesco Bank will gain any additional features or functionality as a result of the partnership, which appears to focus more on Tesco's retail operations.

"We want to make shopping at Tesco as simple and easy as possible, whether that's in store, online or on your mobile device," said Mark Loch, digital wallet and group payments strategy director for Tesco Bank. "This agreement with MasterCard will allow us to utilise the expertise of both organisations to ensure paying at Tesco couldn't be easier."

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