O2 Money to undergo revamp in time for eWallet launch

Having realised that its current m-commerce offering is falling behind the times, O2 is going to give its O2 Money venture a face-lift to coincide with the launch of O2 UK's eWallet service later this year.

The operator confirmed to Marketing Week that it issued briefing details to several advertising agencies so that a new O2 Money marketing campaign can start in the second half of this year.

"We have to move with the changing consumer landscape and the rise of smartphone penetration," said Will Kemble-Clarkson, O2 Money's brand manager. "O2 Money is completely changing and will be much bigger."

Kemble-Clarkson added that the overhaul of O2 Money would provide consumers with a better shopping experience by allowing them to switch easily between browsing and purchasing.

O2 UK has already applied to the UK financial regulator for a banking licence that will enable O2 UK subscribers to use money stored in their eWallets to pay for items or transfer funds to other people. It also claimed in February that 800,000 of its customers were already using O2 UK's financial services to pay for travel and handset insurance.

However, O2 Money will need to watch out that other partnerships or operators don't disrupt its plans. Last week the Mobile Money Network, a joint venture between the Carphone Warehouse owner Best Buy Europe and mobile payment group Monitise, launched its "simply tap" application. The app is designed to enable consumers to make purchases using their handsets regardless of their network provider or bank. MMN said it was in discussion with 17 of the UK's largest retailers about adopting the service.

For more:
- see this Marketing Week article
- see this Guardian article

Related Articles:
Mobile and contactless payments hit UK milestones
O2 boosts financial services division
M-Commerce: Everything Everywhere behind advertiser, retailer initiative
Bouygues, Orange and SFR launch joint payment service

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