22 September 2017
visit www.avoka.com

O2 seeks UK license for mobile money play

03 February 2011  |  12885 views  |  0 o2 card

O2 is set to join the growing band of telcos bidding to grab a slice of the mobile payments market when it applies to the UK's FSA for an e-money license later this year.

The Telefónica subsidiary set up a personal finance unit in 2009 and partnered high street bank NatWest to launch Visa pre-paid cards. It has also participated in contactless mobile payments trials for London's Oyster card.

However, the firm is now seeking to gain a licence from the FSA that will enable it to offer financial services and facilitate payments without a banking partner.

James Le Brocq, head, financial services, at O2 told tech site Silicon.com that an e-wallet app will be launched later this year, offering person-to-person monery transfers, mobile commerce and top-up options.

Le Brocq says contactless payments will also be added at some point but, with the necessary terminals still thin on the ground, this is not yet a priority, although he predicts "the Olympics is going to be a significant milestone in the world of contactless".

The news comes days after rival network operator Everything Everywhere revealed plans to team with BarclayCard to launch the UK's first commercial contactless mobile phone payments system this summer.

In the US wireless firms AT&T, Verizon and T-Mobile are banding together on their own contactless mobile payments joint venture called Isis.

O2 mobile wallet to land in second half of 2011 - Silicon.com

KeywordsE-COMMERCE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

French telcos form e-payment JV

French telcos form e-payment JV

03 February 2011  |  11332 views  |  0 comments
LG makes NFC play

LG makes NFC play

01 February 2011  |  8050 views  |  0 comments
Barclaycard and Everything Everywhere to launch contactless m-payments

Barclaycard and Everything Everywhere to launch contactless m-payments

27 January 2011  |  15360 views  |  7 comments
US telcos hire GE Capital's Abbott to lead contactless m-payments venture

US telcos hire GE Capital's Abbott to lead contactless m-payments venture

16 November 2010  |  10786 views  |  0 comments
US telcos team on contactless m-payments venture - Bloomberg

US telcos team on contactless m-payments venture - Bloomberg

02 August 2010  |  11726 views  |  0 comments
Mobile phone giant O2 moves into personal finance

Mobile phone giant O2 moves into personal finance

15 July 2009  |  12258 views  |  0 comments
Transport for London to trial mobile Oyster scheme

Transport for London to trial mobile Oyster scheme

27 November 2007  |  10451 views  |  0 comments
UK telcos launch mobile payments system

UK telcos launch mobile payments system

03 September 2007  |  12738 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.temenos.comvisit www.vasco.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12476 views comments | 26 tweets | 42 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10949 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9525 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8150 views comments | 18 tweets | 26 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8112 views comments | 5 tweets | 4 linkedin

Featured job

circa £250K total package
London

Find your next job