O2 mobile wallet coming soon

O2 says it is planning an NFC mobile payments app.

Phone

O2 plans to introduce a so-called mobile wallet, using near field communications (NFC) to make payments.

The communications operator is planning to apply for an e-money licence from the Financial Services Authority (FSA) so it can start offering the NFC technology.

It is believed O2 will bring out its mobile wallet app in the second half of 2011.

Advertisement - Article continues below

An O2 spokesperson said the company would give full details nearer the time, but revealed it planned to offer a range of services as part of this, including mobile payments, person-to-person money transfer and airtime top ups.

They said O2 will be making a number of moves to prepare for the launch.

"Firstly we are recruiting a number of financial services experts to the O2 Money team," the spokesperson said.

"Secondly we will be partnering with specialised payments and processing partners. And thirdly we will be submitting an application for an e-money license which will allow us to hold funds on our customers' behalves and facilitate payments."

The news comes shortly after Everything Everywhere the Orange and T-Mobile partnership announced its own NFC-enabled SIM cards in a deal with Barclaycard.

The Google Nexus S features an integrated NFC chip, making it one of the only smartphones to feature such technology.

Advertisement
Advertisement - Article continues below

Apple's next iPhone is widely expected to feature NFC technology as well.

Featured Resources

The case for a marketing content hub

Transform your digital marketing to deliver customer expectations

Download now

Fast, flexible and compliant e-signatures for global businesses

Be at the forefront of digital transformation with electronic signatures

Download now

Why CEOS should care about the move to SAP S/4HANA

And how they can accelerate business value

Download now

IT faces new security challenges in the wake of COVID-19

Beat the crisis by learning how to secure your network

Download now
Advertisement

Most Popular

Visit/security/ransomware/355891/nasa-it-contractor-ransomware-hack
ransomware

Ransomware collective claims to have hacked NASA IT contractor

3 Jun 2020
Visit/security/exploits/355866/critical-vmware-cloud-director-exploit-lets-hackers-seize-corporate
exploits

VMware Cloud Director exploit lets hackers seize corporate servers

2 Jun 2020
Visit/data-insights/data-science/355678/how-data-science-is-transforming-business
Sponsored

How data science is transforming business

29 May 2020