O2 rolls out P2P payment apps

O2 rolls out P2P payment apps

Wireless network operator O2 has launched Apple and Android applications that enable Irish customers to transfer funds to each other.

Developed by local vendor V3 Transaction Services, the free apps let users move money between O2 Money cards in real time irrespective of where either sender or recipient is located.

Customers can transfer up to EUR350 at a time at a cost of EUR1, with the recipient able to withdraw the money on the pre-paid Visa cards at ATMs or spend it in-store or online.

App users also get a dashboard feature providing balance checks and transaction history, while a Google map feature gives details on the nearest top-up store location and directions on how to get there.

O2 says over 15,000 have signed up for the service since it was launched in February, with three quarters of transactions using it carried out online.

Kieron Guilfoyle, CEO, 3V Transaction Services, says: "The development of the apps for both the Apple and Android platforms provides O2 Money customers not only with greater flexibility but crucially provides a very efficient money transfer system."

Visa has recently launched its own person-to-person payment service that lets consumers transfer funds in near real-time to other cards over the VisaNet network.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 30 March, 2011, 09:36Be the first to give this comment the thumbs up 0 likes

Kudos to O2. Unlike Visa, O2 has explained upfront how recepients can withdraw funds credited to their accounts.