Deutsche Telekom launches mobile wallet

German operator group Deutsche Telekom has launched a mobile wallet service in its domestic market. The operator also plans to extend the offering to further markets; to Slovakia in mid-May and in Hungary later this year.

The MyWallet service stores customer data on an NFC enabled SIM card.  It also uses the MyWallet app, which is available to download for free from Google’s Play Store. According to Deutsche Telekom, there are already 35,000 merchants in Germany and more than 1.6 million merchants worldwide that will support the MyWallet card payments.

However at launch the wallet is compatible with 18 Sony and Samsung Android smartphones. According to the operator, this is equivalent to over two million Deutsche Telekom subscribers in Germany.  Subscribers with compatible handsets can receive an NFC SIM card from Deutsche Telekom free of charge.

The operator has also launched a MyWallet plastic payment card, allowing subscribers to store funds on a prepaid MasterCard. Subscribers without compatible handsets can use an NFC sticker to attach to the back of their devices in order to use their smartphone as a MyWallet card. MyWallet subscriber will all be given a plastic card to enable them to pay for products and services using their funds at locations that do not yet have NFC terminals.

The operator has identified former German capital Bonn as its flagship city to showcase the technology. It said that there are nearly 1,000 terminals at shops and restaurants on the city and the operator plans to run promotions in Bonn for subscribers in the coming months.

In January, the operator’s US business T-Mobile USA launched a mobile money service that claims to do away with charges levied on US bank customers for accessing their funds. Mobile Money by T-Mobile offers subscribers a mobile app designed to be used with a T-Mobile Visa Prepaid Card. It does not charge for activation, monthly maintenance, in-network ATM withdrawals or replacing lost or stolen cards.  It also enables subscribers to deposit paychecks and cheques from capable smartphone cameras, buy products and pay bills.

Earlier that month, UK operator O2 announced to customers that it is closing down its O2 Wallet mobile commerce application, 18 months after it launched. The firm told customers in an email that, since the launch, “lots has changed for us, the market and our customers. So we’ve decided to close the O2 Wallet to give us time to look into new and better ways to help people manage their money on the move.”

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