Billeo and 4T develop new e-wallet services

Swedish joint venture company, 4T, which incorporates all Swedish mobile network operators, Telia, Tele2, Telenor and 3 is using PayEx and Accumulate to develop its mobile wallet services and technology. PayEx and Accumulate will collaborate together on the project with PayEx developing the account holding and infrastructure services and Accumulate developing the mobile wallet application solution, based on its mobile security platform ME. The 4T mobile wallet will act as an alternative to cash and card payments and cover all payment situations such as POS including NFC, online, person-to-person, man-to-machine (i.e. vending machines, parking metres etc).

All four operators will connect with the same mobile wallet service, which will offer each operator the same payment options and have its own independent feel and look. The service is planned for launch before this summer. Once launched, it will be available to 97% of Swedish mobile subscribers and will be compatible with the majority of mobile handsets constructed since 2006.

Over in the States, e-commerce site Billeo is enabling card issuers to add their payment option to its Active Context platform through its new Active eWallet API. By adding their card option (credit, debit, prepaid or gift), issuers can connect to the 1.5 million plus consumers who use the Billeo’s free iPad and browser apps to shop and pay bills online. Once added, the card appears as an option on the site’s apps for consumers to include in their personal e-Wallet.

Billeo’s CEO, Murali Subbarao, summed up the service as follows: “Use and retention are two of the biggest concerns for card issuers — especially those in the prepaid market. Our platform puts an issuer’s card top-of-mind for online shoppers, consumers shopping from their iPads and people paying bills online.”

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