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23/05/2011

By Scott Thompson

Wave Crest, FIS, Intelligent Environments and Visa Europe will power O2’s mobile wallet service, launching later this year The companies will deliver the payments and processing systems upon which O2’s next phase of financial services products will be based.

Capabilities planned for the wallet include m-commerce, airtime top ups, contactless/ NFC payments and peer-to-peer payments. Wave Crest will provide and operate the core banking platform upon which the new prepaid card and mobile wallet services will run. FIS will provide transaction processing and UK-based customer service. Intelligent Environments has been appointed to develop the wallet application which will be compatible with a wide range of mobile devices. Finally, Visa Europe will be the payment network for the wallet and new prepaid products, building on the relationship between the two companies which began with the launch of O2 Money in 2009.

“These partnerships take us another step closer to the launch of commercial mobile wallet services,” says James Le Brocq, managing director, financial scrvices at O2. “We are working with the best partners in their respective fields to bring a high quality service to market under the O2 Money banner. We look forward to unveiling additional partners in the coming months.”

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