At Mobile World Congress, MasterCard announced the acquisition of C-Sam. C-Sam’s current customers include Isis and Starhub, a carrier in Singapore. C-Sam will provide an “operating system” for MasterPass, a white label wallet platform that can be marketed to retail banks, mobile operators, and payment providers globally. Mobile wallets are becoming increasingly important to merchants. Last year in the U.S., almost $60 billion was spent by consumers using their mobile devices.

Additionally, according to the 2013 Lexis-Nexis Merchant Study of 1,139 US merchants, 19% of merchants’ total revenue was derived from the mobile channel. The C-Sam platform includes SDKs, and supports NFC, bar codes, and cloud-based transactions, and includes banking, loyalty, in-app and other offers. C-Sam provides an in-store and online back-end and front end platform for MasterCard to build upon. PayPal bought Braintree; Visa bought Fundamo; now MasterCard buys C-Sam. Smart acquisitions of proven players are quite often the best way for payment networks to “innovate from without.”

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About Mary Monahan

Mary Monahan is Executive Vice President and Research Director of Mobile for Javelin Strategy & Research.

Mary brings 10 years of successful direct financial services industry experience to her clients.  Before joining Javelin, she was a Vice President at Wells Fargo Bank where she supervised a $650 million portfolio of commercial, consumer, and real estate loans; and co-directed lending for 35 retail branches, five business-lending centers and one real estate loan center. She specializes in the psychology of why people spend money and the implication for mobile initiatives.

Ms. Monahan’s prior experience includes:

  • Vice President, Commercial Banking Group, Wells Fargo Bank, Los Angeles County, CA.Marketed and managed tailored financing services to growth companies.
  • Assistant Vice President and Manager, Business Lending Center, Wells Fargo Bank, Southern CA. Tripled portfolio; penetrated new strategic asset area for bank.
  • Loan Supervisor, Retail Banking Group, Wells Fargo Bank, San Jose Region, CA. Co-supervised a $652 million portfolio of commercial, consumer, and real estate loans; Co-directed lending for 35 retail branches, five business-lending centers and one real estate loan center; Managed loan officer training and mentoring.

Ms. Monahan holds a B.A. in Economics/English from San Diego State University and an MBA, with a concentration in Finance, 2000, from the Graduate School of Management, University of California at Davis. Ms. Monahan was awarded the University of California Scholar’s Grant and the Faulkner Fund Grant. She resides in the San Francisco Bay Area.

 

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