Vodafone has teamed up with Visa to launch a mobile payments service for its customers.
The service will be launched in the UK, Germany, Netherlands, Spain and Turkey during Vodafone's 2012/13 financial year. Customers will be able to make purchases at point of sale using NFC-enabled smartphones with Visa's payWave technology. While customers can make cheap purchases by waving their smartphone in front of a terminal, high value purchases must be cleared by a password.
The operator said it was in talks with a range of businesses, including retailers, banks, transport and utility companies, event organisers, app developers and advertisers, to host a range of services within a new Vodafone mobile wallet.
Vodafone group CEO Vittorio Colao [pictured] said: 'The Vodafone mobile wallet represents the next stage of the smartphone revolution. It offers our customers the speed, simplicity and convenience of managing their everyday transactions with a single wave or tap of their smartphone, using innovative and reliable services developed by Vodafone and Visa – technology and providers they can trust. Our mobile wallet will be open to any service provider and we are committed to enable all partners to provide our joint customers the richest service portfolio possible.'
Visa Europe CEO Peter Ayliffe said: 'Our partnership with Vodafone represents a huge stride forward for mobile payments. Visa’s future of payments initiative is more than just a promise: these services are real, tangible and coming to the mainstream consumer market in the very near future.'
Editor: Graeme Neill