MWC: MasterCard Acquires C-SAM

MasterCard has acquired mobile wallet company C-SAM for an undisclosed sum.

The acquisition is intended to help speed the development and global deployment of MasterCards mobile wallet and payment solutions. The two companies have a history together, having signed a global strategic partnership back in December 2012, along with a minority investment from MasterCard.

“Consumers today are living digital lifestyles, shopping in new ways using a range of new products and devices,” said Ed McLaughlin, chief emerging payments officer at MasterCard. “Bringing C-SAM’s mobile expertise into MasterCard will help us launch a wider range of mobile and virtual solutions better and faster – bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants.”

The news was announced at Mobile World Congress, along with an update to MasterCards mobile payments service MasterPass – which was first introduced at MWC last year – that adds support for in-app payments.

Users who have their payment details stored with MasterPass will be able to make purchases in partnered apps – a list which at launch includes Forbes, Starbucks Australia and Shaw Theatres Singapore – using their login.