Subscriber’s of the UK’s O2 Mobile Service provider can now used their phones as a wallet. The wallet uses a linked bank account or prepaid Visa and can transfer up to £500 to another mobile. This service does not yet actually use the NFC chip technology in cellphones. Instead it is a mobile payment app just for O2.
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Ovum analyst Eden Zoller had to say about the app:
“O2 Mobile Wallet is a flagship, feature packed service that has clearly been designed to face the increasing threat of mobile payment services from [third party] players such as Google Wallet and PayPal, and of course other operators,” Zoller said in a statement. “It is promising consumers an awful lot and all eyes will be on the service, which will need to deliver air-tight security and a seamless user experience across the multiple applications contained in the wallet.”