Prepaid Mobile Wallet Coming to the UK

by Mercator Advisory Group 0

Kalixa Group, DeviceFidelity, and MasterCard have announced they will launch an NFC-equipped iPhone application that serves as a prepaid wallet for United Kingdom consumers. The strategic partnership between the companies calls for Kalixa Pay, Kalixa’s lead prepaid wallet, to power the wallet, and MasterCard’s PayPass technology and DeviceFidelity’s iCaisse technology to enable NFC payments.

Consumers can access account information, check their account balance in real-time, as well as locate merchants and ATMs and make wallet-to-wallet transactions. Kalixa also provides users with an EMV-enabled MasterCard prepaid card.

Ed Chandler, CEO of Kalixa Group commented on the product’s launch:

“The UK is one of the fastest growing prepaid markets in the world and is a leader in terms of NFC and contactless acceptance at the point of sale. By enabling iPhone users to make smart, simple and secure NFC transactions we are taking an enormous step towards making mobile money an everyday reality for consumers.”

The Kalixa prepaid card charges £1.75 (US$2.69) for ATM cash withdrawals, and 1.95% of the value loaded into the prepaid account with a minimum load amount of £10 ($15.35). The wallet soon will be compatible with Android phones and the iPhone 5.

The term “wallet” is used rather loosely given the service is compatible with only one card. But with prepaid and mobile wallets gaining traction with consumers, Kalixa Group providing a combination of the two distinguishes its offerings with other prepaid providers.

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