The news of the deal comes days after it was revealed that Everything Everywhere is to launch a third consumer brand later this year that will sit alongside Orange and T-Mobile.
While the company has not given further details about the new brand, it has confirmed it will not be called “Everything Everywhere”. It is, however, likely to focus around super fast internet services following Ofcom’s move to grant Everything Everywhere a 4G licence ahead of its rivals.
Everything Everywhere and MasterCard will first launch a contactless NFC payment service for customers to use at more than 100,000 retailers in the UK. It is as yet unnamed, but would benefit from 4G compatibility.
The two companies also want to roll out loyalty initiatives, person to person money transfers and the ability for small businesses to accept payments via mobile devices further down the line.
MasterCard already partners Orange and has been the payment provider for its prepaid contactless card Orange Cash for more than a year, while Barclaycard has been the provider for Orange’s its NFC service QuickTap for more than three years.
Last month MasterCard also inked a deal with Deutsche Telekom, which operates T-Mobile operations elsewhere in Europe.