UK MNO to Launch NFC Mobile Payments in the Second Half of 2011

by Mercator Advisory Group 0

UK mobile network operator O2 just announced that it has finalized the partners in its expected launch of the O2 mobile wallet service in the second half of this year. M-commerce, airtime top ups, contactless / NFC payments, and P2P payments are expected to be available for the service, said O2.

Wave Crest, FIS Intelligent Environments and Visa Europe have all been appointed to deliver the payments and processing systems upon which O2’s next phase of financial services products will be based.

O2 has committed to launching a mobile wallet service during the second half of 2011 which will start the process of taking the contents of the physical wallet and putting them on a mobile phone…Although the service will launch solely under the O2 Money brand, O2 will be working with a number of leading technical and financial services specialists to ensure the best possible customer experience.

Wave Crest, FIS™, Intelligent Environments and Visa Europe have all been appointed to deliver the payments and processing systems upon which O2’s next phase of financial services products will be based.

Visa Europe will be the payment network for the wallet and new prepaid products building on the successful relationship between the two companies which began with the launch of O2 Money in 2009.

2011 is expected to be Year One of NFC proximity mobile payments when numerous MNOs and FIs around the world are expected to roll out payment services on NFC-enabled phones. But large scale adoption among consumers and merchants is at least a full year away.

Mercator has comprehensive and in-depth coverage of NFC and mobile payments. Recent work includes:
Authentication at the Edge: NFC, Smartphones, and a New Model for Payments Confidence, Global Sweep: NFC Technology to Redefine Smartphone Services

The ISIS Mobile Payments JV: NFC’s Breakout Opportunity May Be Balkan Gardens
Read the original press release here.