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Thursday, May 19, 2011

O2 UK prepares its mobile wallet for launch later this year

O2O2 has announced the financial services companies it’ll be working with when it launches a ‘mobile wallet’ service later this year. It first confirmed its plans in February.

The mobile wallet will be launched under the O2 Money brand and will include m-commerce, airtime top ups, contactless NFC payments and peer-to-peer money transfers. O2 is also relaunching its prepaid Visa debit card as an NFC contactless card.

Electronic payment provider Wave Crest will run the banking platform, payment technology company FIS will provide transaction processing and Visa Europe will be the payment network. Banking software business Intelligent Environments is developing the mobile application.

James Le Brocq, Managing Director of Financial Services at O2, said “These partnerships take us another step closer to the launch of commercial mobile wallet services. We are working with the best partners in their respective fields to bring a high quality service to market under the O2 Money banner. We look forward to unveiling additional partners in the coming months.”

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Author: The Fonecast
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