TELEFÓNICA AND MASTERCARD’S JOINT VENTURE UNVEILS BRAND NAME
Miami and Madrid, February 23rd, 2012 – Telefónica and MasterCard’s (NYSE:MA) joint venture, created to lead the development of mobile financial solutions 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 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 the 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 Telefónica’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 Telefónica’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 Bogotá.
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 Itaú, 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 Telefónica’s global director of Financial Services. In that role he built and managed Telefónica’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 Durán 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, as I’m 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 Telefónica and MasterCard 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 existing electronic payment systems, through an open model, to ensure interoperability between the unbanked and banked segments.
Telefónica is one of the largest telecommunications companies in the world in terms of market capitalization and number of customers. From this outstanding position in the industry, and with its mobile, fixed and broadband businesses as the key drivers of its growth, Telefonica has focused its strategy on becoming a leading company in the digital world.
The company has a significant presence in 25 countries and a customer base that amounts more than 300 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy.
Telefónica is a 100% listed company, with more than 1.5 million direct shareholders. Its share capital currently comprises 4.563.996.485 ordinary shares traded on the Spanish Stock Market (Madrid, Barcelona, Bilbao and Valencia) and on those in London, New York, Lima, and Buenos Aires.
About Telefónica Digital
Telefónica 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.
As a leading global payments company, MasterCard prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year, has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
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