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O2 ditches mobile wallet

Matthew Finnegan | Jan. 13, 2014
O2 has told its customers in UK that it will end support for its digital wallet just 18 months after launch.

He added that it is likely that Telefonica will return with new mobile wallet and m-commerce offerings this year based on its partnership with Monitise, but will come up against even more opposition from a range of competitors.

"Over the next 12 months we can expect a host of new mobile payments and m-commerce services from an array of vendors as smartphone penetration grows and as financial services companies and retailers use the mobile channel to offer more personalised services," he said.

"Usage levels are certain to increase but we should also expect that a large proportion of these offerings will 'crash and burn' as companies compete for the valuable real estate that is your smartphone's screen."


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