MasterCard reportedly has launched MasterCard Mobile Payments Gateway (News – Alert), a mobile payments processing platform that lets financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network.

Company officials said that Itau Unibanco and Redecard, along with mobile network operator Vivo, will be the first to use the MasterCard Mobile Payments Gateway to deliver mobile payment solutions to the banks’ customers in Brazil.

According to company officials, the service will give consumers the ability to use their phone as a mobile wallet and link their existing credit, debit or prepaid MasterCard or Maestro card accounts to their mobile phone to fund mobile-initiated payments.

“The Mobile Payments Gateway will help to make mobile payments a way of life for mobile phone users around the world,” said Joshua Peirez, group executive of Innovative Platforms for MasterCard Worldwide, in a statement.

Peirez said that through the global, integrated payment network the company is efficiently connecting financial institutions, merchants and consumers together to mobilize MasterCard payment solutions in a way that truly reflects today’s on-the-go lifestyles.

“We are pleased to introduce a mobile payments solution that reinforces our innovative positioning in the market,” said Fernado Teles, managing director, Itau Unibanco Holding.

Teles said that for Itau, it is important to not only bring cutting-edge products but also ensure that it offers the customers the security and convenience they expect from a banking transaction.

“The MasterCard Mobile Payments Gateway is complementary with the existing Redecard solutions and we are honored to be part of this project,” said Roberto Mediros, president and CEO of Redecard.

Mediros said that this platform reinforces the company’s leadership in mobile payments solutions. This is a breakthrough for mobile payments around the globe. Democratization and innovative solutions have always been priorities for Redecard and the MasterCard Mobile Payments Gateway is precisely aligned, he said.

“Vivo, the largest mobile operator in Brazil with over 48 million customers, is a natural choice for this partnership, due to its installed user base and broad service outreach, in more than 3,400 cities nationwide,” according to Hugo Janeba, executive vice president of marketing and innovation, Vivo.

Janeba said that this is an important service the company is glad to offer to its customers, empowering their connectivity so they can make the most out of their mobile phones. The mobile payments market is an expanding opportunity in the local scenario and the company is sure this initiative will be a success, he said.

“While in the region there are some mobile payments solutions in the market that help unbanked mobile users transfer money or top-up prepaid accounts, these solutions have been limited in providing the breadth of payment transaction services for the underserved consumer to completely manage their finances,” said Richard Hartzell, president, Latin America and the Caribbean region, MasterCard Worldwide. “I am pleased that the Latin America and Caribbean region will be the first to offer the MasterCard Mobile Payments Gateway, which will benefit every constituent in the payments ecosystem–helping financial institutions and mobile network operators reduce their mobile operating expenses and costs to serve consumers while enabling merchants to cost-effectively expand payment acceptance using their mobile phone.”

Hartzell said that this will let consumers enjoy a more robust suite of mobile payment services that makes their lives easier. Following the launch in Brazil, MasterCard will introduce MasterCard Mobile payments solutions through the Mobile Payments Gateway in select markets around the world.