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Verizon Business and Mastercard Partner to Bring 5G to the Global Payments IndustryWhat you need to know:
BASKING RIDGE, N.J. and PURCHASE, N.Y., July 13, 2021 (GLOBE NEWSWIRE) -- Verizon Business and Mastercard today announced a strategic partnership expected to drive transformational solutions for the global payments and commerce ecosystem. From contactless shopping and autonomous checkout technology to Cloud Point of Sale (POS) solutions, Mastercard and Verizon Business will collaborate to deliver scalable innovations that drive the industry forward and create new experiences for consumers and businesses alike. Verizon and Mastercard will work closely to unlock Internet of Things (IoT) sensor connectivity with near real-time edge computing to power the fintech, payments and banking industries, in addition to working to arm SMBs with hyper-automated and immersive commerce experiences. This includes:
“Business needs and consumer demands constantly fluctuate. Critical components of long-term success are the ability to remain agile and align with strategic financial and payments partners that have the tools and capabilities to drive industries forward,” said Sampath Sowmyanarayan, CRO, Verizon Business. “Coupling Verizon’s leading global IP network and transformative 5G technology with Mastercard’s deep industry expertise, leading services and solutions, and a strong commitment to innovate, is a partnership that aligns perfectly with what we are striving to achieve at Verizon and one that can create game-changing solutions.” At Mastercard’s New York City Tech Hub, located in the Flatiron District, Mastercard and Verizon will test and embed 5G to accelerate the pace of innovation and collaboration. Together, Mastercard and Verizon plan to explore 5G and Mobile Edge Computing technology and use cases, while also enhancing the overall experience for Mastercard employees. “Emerging technology such as 5G and Mobile Edge Computing will undoubtedly reshape how we interact with each other, making it all the more critical for these exchanges – particularly payments – to be trusted and anticipate further changes,” said Linda Kirkpatrick, president, North America at Mastercard. “Through this collaboration, Mastercard and Verizon’s platforms, which connect billions of consumers, businesses, banks and governments around the world, will be a force in driving transformational change.” Learn more about Verizon’s 5G technology. Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. About Mastercard VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at https://www.verizon.com/about/media-center. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/. Media contact: Biz Cozine |