Mobile Wallet
The strategic partnership with Sybase 365, a subsidiary of mobile commerce service provider Sybase Inc, will develop Telefonica’s first commercial mobile wallet (view press release). The service is due to be rolled out in Europe and Latin America this year. Customers will be able to use the m-wallet to access a range of mobile financial services such as stored value accounts, payments and peer-to-peer transfers. Customers will also be able to store prepaid, debit, credit and loyalty cards in the wallet. Once NFC POS terminals are more established the m-wallet will enable payments directly from the mobile phone.
This partnership with Sybase 365 follows a deal late last year with Giesecke and Devrient to provide the platform for Telefonica’s impending NFC services. Partnerships with other advanced technology companies have also been confirmed as Telefonica seeks to “assemble the best possible technology partners to power our mobile financial products.”
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