O2 Wallet to provide contactless payments to all mobile usersApril 26th, 2012 • 9 Comments
O2 are the latest firm trying to muscle in on the whole contactless mobile payments thing, where basically, you can use your phone like a debit card. It’s all terribly exciting. Of course, Barclays are already on it with there Pingit and Barclaycard PayTag services, so the telecom company are now launching O2 Wallet, which is open to all mobile users regardless of what network they’re on. Sneaky.
If you’re interested, you can download the app and register bank and credit cards details and then securely transfer between £1 and £500 daily to any UK mobile phone number. O2 reckon that this will make shopping online, lending, borrowing and whatnot, easier than ever before. Provided you don’t have a phone with a lousy battery life, which keeps dying every time you try and make a payment with it.
The wallet also includes the virtual O2 Money Visa account card so you can make purchases in shops through tap-and-go payments.
James Le Brocq, managing director at O2 Money, said he believed the app would “transform the way people manage their finances and spend money”. ”We recognise that security is absolutely key. O2 Wallet has been trialled internally for months and has undergone extensive ‘stress-testing’ with security experts.”
“In addition to pins and passwords, all personal details and financial data are held on remote central servers rather than on the mobile device itself. This, we believe, is the safest and most secure way to deliver mobile payment services.”
watch everyone give the android app 1/5 because it won’t work on rooted phones, and instead of taking it as security they assume google just want to piss people off for hacking their phones. Happened with pingit.
just checked comments. people are finding the sign up long / awkward and are annoyed at entering passwords so much.
On the plus side, you get discounts at certain places (tesco was mentioned), and this uses a top up wallet, rather than being linked directly to a bank account (pingit).
Could i use this to buy weed?
We accept anything – even the phone itself will do.
DiscountCrack: cheap drugs without the headaches.
Thanks Brandon, but know one gives a flying crock of poo here at Bitter Wallet. Did someone say they had some speed?
We’re so hip we had this system 10 years ago, we dropped it 3 years ago and replaced it with telepathy, which obviously suits our clients well because they’re so cool that they’re currently all using the iPhone 7.
I’ve got a discount crack.
I feel the revenue of o2 will be so small it wont be worth the time, and an experiment they will be happy to ax in 2 years when they don’t hit their projected numbers. I’d rather wait for mPowa (www.mpowa.com) to launch in the UK.