DeviceFidelity brings NFC-enabled iPhone pre-paid wallet to Europe

DeviceFidelity brings NFC-enabled iPhone pre-paid wallet to Europe

US vendor DeviceFidelity has teamed up with Vincento Payment Solutions and MasterCard to launch its NFC pre-paid mobile wallet app for the iPhone in Europe, beginning with the UK.

The moneto pre-paid mobile wallet, which launched in the US earlier this year, uses a combination of the MasterCard PayPass technology and DeviceFidelity's iCaisse4X case to enable tap & go payments on the iPhone.

Later this year, UK iPhone users - regardless of their wireless provider - will be able to order the service directly from a moneto site and link their bank account or credit card to fund a pre-paid account.

An app will allow users to access to their account on their phone and for real-time balance updates, merchant locator, wallet security and full NFC functionality.

Moneto also comes with a companion EMV pre-paid MasterCard card to give users the ability to access their cash at ATMs, make online purchases, or shop at merchants that do not accept contactless payments.

The service will later be rolled out to Android users and other European countries.

Matt Lanford, head, pre-paid, MasterCard Europe, says: "Today's launch is another milestone in the MasterCard strategy to partner with innovators across the industry to deliver simple payments using smart technology, no matter where and on what device consumers choose to shop."

Comments: (1)

A Finextra member
A Finextra member 11 September, 2012, 12:51Be the first to give this comment the thumbs up 0 likes

The most immediate questions that spring to my mind are as follows:

Why aren't Visa and Amex part of it? How many users would LOVE to put that "jacket" - which costs US$50-100 (!) - on their iPhones for the sake of NFC? How soon will iPhone 5 version be available? What about Android phones?

But then I am looking at that press release from the perspective of a company that brings to the market free ubiquitious phone-, OS- and operator-agnostic secure NFC wallet, so I am (heavily) biased towards "game-changing" (compared to just "innovative").