Telefonica to launch mobile wallet services

Sybase 365, a subsidiary of Sybase, Inc., a provider of mobile messaging and mobile commerce services, on Tuesday announced a global, strategic partnership with Telefonica Digital to provide mobile wallet services. Sybase 365 will help develop Telefonica's mWallet, which will be the gateway for its customers to a range of mobile financial services.


The mWallet, provided by Sybase 365 (Dublin, Calif., USA), will be a virtual wallet which will offer a way of accessing a range of services from a stored value account through to payments and peer-to-peer transfers. It will be capable of storing prepaid, debit, credit and loyalty cards, which can be used for online purchasing. And as NFC technology becomes more widespread it will be possible to make payments directly from the wallet via compatible handsets and point of sale terminals.


"The mobile wallet lies at the heart of our financial services strategy," said Joaquin Mata, Head of Financial Services at Telefonica Digital (Madrid, Spain).


The partnership with Sybase 365 is the latest development as Telefonica builds its global capabilities in the mobile financial services space.


"With the ongoing convergence of technology and agreement amongst key players in the ecosystem, mobile commerce services are a fast developing global phenomenon," said Matthew Talbot, Senior Vice President of mCommerce, Sybase 365.


Telefonica expects to see the first commercial wallet services launching in Latin America and in Europe during the first half of 2012.

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