O2 begins mobile wallet launch

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O2 has contracted with Wave Crest, FIS, Intelligent Environments and Visa Europe to deliver the payments and processing systems for the launch of a full-scale commercial mobile wallet service in the ‘second half of 2011’.

Epayments outfit Wave Crest will provide and operate the core banking platform upon which the new prepaid card and mobile wallet services will run. Wave Crest will also manage the security and online customer experience.

FIS has been contracted to manage transaction processing and customer service, while Intelligent Environments has been appointed to develop the wallet application. Payments will be transacted over the Visa Europe network.

Capabilities planned for the wallet include m-commerce, airtime top ups, contactless / NFC payments and peer-to-peer payments. “These partnerships take us another step closer to the launch of commercial mobile wallet services,” says James Le Brocq, managing director, financial services 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.”

The Telef