Core Insights - Mastercard is advancing partnerships to enhance merchant access to mobile wallets globally, aligning with Visa's efforts as consumer behavior shifts towards smartphones [1] - The collaboration with TerraPay allows mobile wallet users to access over 150 million Mastercard acceptance points for NFC payments [2] - Mastercard's partnership with Telefonica aims to launch a mobile wallet in Brazil, targeting an addressable market of up to 87 million consumers [4] Industry Trends - NFC technology is becoming crucial for smartphone payments, with Apple easing access to it, which is expected to increase the number of mobile wallets in the market [3] - The trend of contactless payments is growing, with 70% of in-person Mastercard transactions now being contactless, indicating a shift from e-commerce to physical retail [7] - More than half of banks are adopting a "mobile first" strategy for their payment initiatives, reflecting the industry's embrace of mobile wallets [7] Strategic Collaborations - Mastercard's partnership with Alipay aims to facilitate cashless payments for international travelers in China [5] - Collaborations with ecosystem players like TerraPay are essential for scaling mobile wallet adoption and simplifying implementation processes [6] - Both Visa and Mastercard are actively building mobile wallet scale through various partnerships, with internal research tracking the popularity of these wallets [8]