O2 mobile wallet coming soon

Powered by SC Magazine
 

O2 says it is planning an NFC mobile payments app.

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.

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.

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

This article originally appeared at itpro.co.uk

Copyright © ITPro, Dennis Publishing


O2 mobile wallet coming soon
 
 
 
Top Stories
Matching databases to Linux distros
Reviewed: OS-repository DBMSs, MariaDB vs MySQL.
 
Coalition's NBN cost-benefit study finds in favour of MTM
FTTP costs too much, would take too long.
 
Who'd have picked a BlackBerry for the Internet of Things?
[Blog] BlackBerry has a more secure future in the physical world.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest articles on BIT Latest Articles from BIT
Looking for storage? Seagate has five new small business NAS devices
Aug 22, 2014
Seagate has announced a new portfolio of Networked Attached Storage (NAS) solutions specifically ...
Run a small business in western Sydney?
Aug 15, 2014
This event might be of interest if you're looking to meet other people with a similar interest ...
Buying a tablet? Microsoft's Surface Pro 3 goes on sale this month
Aug 8, 2014
Microsoft has announced its Surface Pro 3 will go on sale in Australia on 28 August from ...
Apple's top MacBook Pro with Retina is now cheaper
Aug 1, 2014
Apple has updated its MacBook Pro range with faster processors and new pricing, including ...
Pass on carbon tax savings, warns ACCC
Jul 24, 2014
The ACCC is warning businesses that supply "regulated goods" to pass on any cost savings ...
Latest Comments
Polls
Which is the most prevalent cyber attack method your organisation faces?




   |   View results
Phishing and social engineering
  71%
 
Advanced persistent threats
  3%
 
Unpatched or unsupported software vulnerabilities
  11%
 
Denial of service attacks
  6%
 
Insider threats
  10%
TOTAL VOTES: 765

Vote