Telefonica (Vivo), MasterCard to launch first mobile money service in Brazil

21 May 2013

Online journal MobilePaymentsToday reports that Telefonica (Vivo), the fixed and mobile operator owned by Telefonica of Spain, has established a Brazilian joint venture with MasterCard Worldwide to launch Brazil’s first mobile payment service. Dubbed ‘Zuum’, the new service will launch in five cities in the state of Sao Paulo and in Belo Horizonte, Minas Gerais. It will be available to Vivo’s mobile subscribers who will be able to access a pre-paid account on their phone to transfer money, buy credits for Vivo’s pay-as-you-go mobile phones and pay bills. The service is expected to begin this month and to have national coverage by 2014.

Brazil, Telefonica Brasil (Vivo)