Verizon, Mastercard Partner To Integrate 5G To Payments Industry

Verizon Communications Inc VZ and Mastercard Inc MA collaborated to deliver scalable innovations from contactless shopping and autonomous checkout technology to Cloud Point of Sale (POS) solutions.
Verizon and Mastercard aim to unlock Internet of Things (IoT) sensor connectivity with near real-time edge computing to power the fintech, payments, banking industries and arm small and medium businesses (SMBs) with hyper-automated and immersive commerce experiences.
Mastercard and Verizon will test and embed 5G at Mastercard's New York City Tech Hub in the Flatiron District.
Coupling Verizon's leading global IP network and transformative 5G technology with Mastercard's deep industry expertise, services, and solutions can create game-changing solutions, Verizon CRO Sampath Sowmyanarayan said.
Emerging technology like 5G and Mobile Edge Computing will make it more critical for the exchanges, particularly payments, to be trusted and anticipate further changes, Mastercard President Linda Kirkpatrick said.
Mastercard and Verizon intend to explore 5G and Mobile Edge Computing technology and use cases while also enhancing the overall experience for Mastercard employees.
Price action: MA shares traded higher by 2.43% at $384.69 on the last check Tuesday.