Telefónica to launch mobile wallet service by mid-year

Telefónica Digital wil launch mobile wallet services in Europe and Latin America in partnership with Sybase 365. Telefónica said that it will unveil its NFC-compatible "m-wallet" service during the first half of this year, and is working with the banking industry to enable customers to store their current account details on their m-wallet.

"The mobile wallet lies at the heart of our financial services strategy and it is crucial that we deliver a strong, simple and secure user experience to our customers," Joaquin Mata, head of financial services at Telefónica Digital, said in a statement.

Mata said that Sybase 365 will help Telefónica Digital develop a range of services from stored value accounts to peer-to-peer transfers, and NFC as the technology becomes more widespread. Sybase joins a number of companies involved with this project, including Giesecke & Devrient which is providing the platform for NFC services.

However, a Telefónica spokesman told Total Telecom that the UK is excluded from this initiative: "In the case of the UK., it's important to note that Sybase is not our partner," adding that O2 UK remains committed to the m-payments JV, codenamed Project Oscar, it has with Vodafone and Everything Everywhere. 

For more:
- see this release
- see this Mobile Payments Today article
- see this Total Telecom article

Related Articles:
Telefónica preps NFC for European launch within months
NFC starts to take off in Europe, but challenges remain
Visa pushes UK operators to join London Olympics NFC payment scheme
FT Orange cool to Google Wallet, calls for m-commerce openness
Everything Everywhere, O2, Vodafone forge JV to fast-track m-commerce
Deutsche Telekom, Telefónica O2, Vodafone create German m-payment JV

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