MasterCard and Telefónica Name Mobile Joint Venture Wanda
MasterCard and Telefónica’s joint mobile financial solutions venture for 12 markets in Latin America is called Wanda. The company will provide mobile payment solutions to the 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.
Sergio Regueros is the lead executive for the joint venture. Regueros has been with Telefónica for seven years, where he has held a variety of senior management roles in Latin America and Spain. Most recently, he was regional director for Telefonica’s mobile business for northern Latin America (Mexico and Central America). Previously, 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 Bogota.
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 (SVP) of market models and 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 Itau, 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.