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Sweden's big four operators launch WyWallet m-wallet service

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Swedish mobile operators Telia, Tele2, Telenor and 3 Sweden launched a WyWallet mobile wallet service.The four operators said the service uses technology supplied by local developer Accumulate and is initially available as a mobile app on Android, iPhone and Java devices, with support for Windows Phone scheduled to be available this autumn.

WyWallet, according to Finextra, supports P2P money transfers, payment for SMS-based services such as public transport, ticketing and voting, together with online shopping and prepaid top-ups.

WyWallet also supports POS payments using Near Field Communications, but testing of this feature will begin next week with a commercial launch planned for 2013. New WyWallet services are planned for this autumn, reports Telecom Paper.

The new service, which was first announced earlier this year under the codename 4T, is set to compete with a rival P2P mobile payments startup which has the backing of the Stockholm-based financial services group Nordea and five other banks. This service, branded Swish, is scheduled to launch before year-end.

Commenting on the WyWallet launch, Adam Hasslert, marketing manager at 4T, told Computer Sweden that WyWallet should be an easy option for consumers regardless of the other players vying for attention.

"We see a lot of [M-wallet] pilots right now, but nobody has had a great success so far. We'll see what happens with the banks' initiative in the autumn, but we believe we can be the easier option--it is simple to get started with WyWallet."

For more:

- see this Finextra article
- see this Telecom Paper article (sub. req.)
- see this Computer Sweden (translated via Google Translate)

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