During its first-quarter earnings call, MasterCard Inc. President/CEO Ajay Banga said that mobile is a fast-moving space for his company and that the financial giant hopes to create new revenue streams via the medium.

With Google, MasterCard and Citi reportedly teaming up to go head-to-head with the U.S. carriers’ Isis joint venture with Discover Card and Barclaycard, a war in the near field communication space is on the horizon.

The battle between Research In Motion and wireless carriers over mobile-payment data is a precursor to a larger war over who owns consumers making transactions using mobile devices.

The near field communication ecosystem is finally coming together, setting the stage for the massive worldwide deployment of contactless mobile payments in 2012.

MasterCard and Telefonica have launched a joint venture to lead the development of mobile financial services in 12 countries in Latin America where the carrier’s Movistar brand operates.

Mobile payments will approach $1 trillion by 2015 in the United States if retailers receive lower payment-processing fees based on a more efficient system, according to The Luciano Group.

MasterCard is letting customers search for and find the nearest ATM via an application for Android-enabled devices.

Emerging alternate payments options such as mobile contactless payments need to be better, faster and cheaper than card-based methods for retailers while also giving consumers greater control in the process.

MasterCard has introduced an iPhone application in an effort to revolutionize the mobile commerce experience for cardholders.

MasterCard Worldwide has launched the MasterCard MoneySend service for Apple’s iPhone and iPad users to enable peer-to-peer mobile payments.