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February 27, 2012updated 04 Apr 2017 4:14pm

Vodafone, Visa in global m-payment strategy

Vodafone and Visa have unveiled plans for a global partnership that will provide Vodafones 398-million client base with mobile wallet services. Starting in 2013, the new m-payment platform will provide the service in Germany, the Netherlands, Spain, Turkey, and the UK It is expected that some of the 30 countries where Vodafone has a presence would follow suit.

By Verdict Staff

Vodafone and Visa have unveiled plans for a global partnership that will provide Vodafone’s 398-million client base with mobile wallet services.

Starting in 2013, the new m-payment platform will provide the service in Germany, the Netherlands, Spain, Turkey, and the UK.

It is expected that some of the 30 countries where Vodafone has a presence would follow suit.

In a statement the companies stated that this Vodafone-branded proposition would be backed with a Visa prepaid account and offered to consumers in partnership with Visa issuers.

Partners of all relevant industries such as financial institutions, retailers, transport and utility companies

The services would enable Vodafone’s consumers to pay for goods and services using their mobile phones in an attempt to offer an alternative to cash and cards.

The companies affirm that the platform would be open to any service provider from all industries such as financial institutions, retailers, transport and utility companies.

The platform would allow making purchases with smartphones at the-point-of sale using NFC and Visa’s payWave. 

The service will be compatible with GSM’s association standards the global mobile industry body, both companies acknowledged.

Visa’s announcement has the potential to fill a significant hole in the current payments ecosystem, said Ovum analyst Catherine Haslam.

She argued that this type of relationship will replace complicated and long negotiations between operators and financial institutions – a prerequisite for operators to offer such services.

“In effect Visa is doing what it’s been threatening to do for several years and expanding its traditional intermediary role in payments to mobile. The fact that it is also supporting non-Visa payments shows that the payments giant recognises that ubiquity is the key to success in mobile money systems,” said Haslam.

 

 

 

 

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