Telefónica Deutschland, better known as O2 Germany, today announced the upcoming launch of its new mobile payment solution for smartphone-to-smartphone direct money transfer as well as its new digital wallet. Telefónica is the first network operator in Germany to enable its customers to perform mobile-to-mobile transfers using the "mpass Geld senden" (send money) service. This allows to transfer money from one mpass account to another, virtually in real time. Compared to traditional bank transfers, the process is simple and convenient. There is no need to disclose the recipient's bank details. All a user need is recipient's mobile phone number.
The use of the transfer service is handled securely by the mpass app and requires the user to log in using their user name and password. The process of sending money is easy and free of charge. Simply select the field "Geld senden", enter the recipient number, amount and an explanation or message for the transfer, then complete the payment. The transfer is performed practically in real time, so both the sender and recipient can see the transaction after just a few seconds. The user can obtain a list of all transactions via the app.
The transfer service is available to customers who have signed up to use mpass in shops and have installed the mpass app. This is possible with mobile phones using the operating systems Android and iOS. Users must also perform a one-time registration process using the Postident procedure. The launch of the 'mpass Geld senden' service is planned for mid-February.
With O2 Wallet, Telefónica is offering a digital wallet that customers can use for contactless payment at shops accepting PayPass payments in Germany and around the world. A smartphone with NFC support and a corresponding NFC-capable SIM card are used for the digital wallet.
Paying with O2 Wallet is simple, convenient and secure. A PIN must be entered to use the digital wallet and protect against abuse. The NFC SIM card, on which all of the payment and security data is stored, provides additional security. The high and well-established security standards of the financial sector, which are being used for cashless payments, are also applied. The customers' bank details are also afforded special protection with the use of a 'trusted service manager'. This means that they remain solely with the credit institution and Telefónica has no access to them.
The launch of O2 Wallet is planned for mid-February in the form of a "friendly user test". Here, customers volunteer to participate and their experiences are fed back into the continued development of the electronic wallet. O2 customers with an NFC-capable smartphone - either the Samsung Galaxy ACE2 or S3 - and who have ordered the free NFC pack with an NFC-capable SIM card are eligible to take part. Once inserted, the user will automatically receive a text message with a download link, which allows them to install the Wallet. To link a card to the digital wallet, the tester then registers to pay using mpass in shops. The "mpass O2 Wallet Card" is now automatically added to the digital wallet - and the customer can start shopping.
Over the course of the year, Telefónica will be expanding its wallet service to include additional applications and functions such as other payment cards, vouchers and loyalty schemes. The first bank will shortly be joining the wallet scheme, allowing the integration of a digitalized credit card.
Cheers ~ Arne