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
ATO investigates 25 tech giants in tax hunt
Prepared to take tax evaders to court.
 
Immigration, Customs restructure IT leadership
Customs CIO promoted into transformation role.
 
NBN Co begins FTTB rollout
Will bring service to 6000 apartments.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest articles on BIT Latest Articles from BIT
Franchisees, here's something you should know about
Jan 23, 2015
You need to know the Code if you are a franchisee or franchisor as the penalties are significant.
Xero users rejoice! Quoting has finally arrived
Jan 23, 2015
It has taken years, but Xero has at last added integrated quoting to its online accounting software.
You can now get a no-contract wi-fi tablet from Telstra
Jan 17, 2015
Telstra has began selling wi-fi tablets out of contract without paying extra for cellular ...
Get your business ready for 2015: mobile payments
Jan 2, 2015
These handy apps from MYOB, Xero and others can reduce your administrative load and improve ...
Xero prepares for key feature coming in 2015
Dec 19, 2014
Xero users will be able to track how their business is comparing to other Xero users.
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  36%
 
Your insurance company
  5%
 
A technology company (Google, Facebook et al)
  9%
 
Your telco, ISP or utility
  8%
 
A retailer (Coles, Woolworths et al)
  4%
 
A Federal Government agency (ATO, Centrelink etc)
  18%
 
An Australian law enforcement agency (AFP, ASIO et al)
  14%
 
A State Government agency (Health dept, etc)
  7%
TOTAL VOTES: 2919

Vote
Do you support the abolition of the Office of the Information Commissioner?

   |   View results
I support shutting down the OAIC.
  27%
 
I DON'T support shutting the OAIC.
  73%
TOTAL VOTES: 906

Vote