O2 shuts down mobile wallet
09 January 2014 | 13179 views | 9
UK wireless operator O2 is to discontinue its mobile wallet eighteen months after it was officially launched.
The O2 wallet functionality included P2P payments, barcode searches for online price comparison shopping, daily discounts from major retailers (including Debenhams, Comet, Sainsbury's Direct, and Tesco Direct), debit card and cash onboarding, and a Visa pre-paid card for online and high street shopping.
In a statement on the O2 Money Website, the mobile operator says: "When we launched the O2 Wallet 18 months ago we were one of the first mobile wallets around. Since then lots has changed for us, the market and our customers. So, we've decided to close the O2 Wallet to give us time to look into new and better ways to help people manage their money on the move, both in the UK and abroad."
The telco has not released any figures regarding customer numbers or transaction volumes for the Wallet during its eighteen-month lifetime.
Users will need to empty their wallets by 31 March when the account will be officially suspended.