Brazil’s first mobile payment service is now available in Belo Horizonte, Guarulhos, Jundiai, Osasco, Mogi das Cruzes and Sorocaba, according to the two companies behind MFS (Mobile Financial Service), Telefonica and MasterCard.
Called Zuum, the service allows Vivo customers to transfer money, pay bills and access a prepaid account via their phones.
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“Zuum offers three clear benefits to the financial services market in Brazil: to help establish the concept of secure payments through mobile devices; to promote the financial inclusion of unbanked Brazilians; and to offer to the Brazilians an alternative payment service at the lowest cost possible,” the release said.
Consumers in the country can also choose to obtain and use a prepaid card connected to this account from MasterCard.
Read the full press release here.
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