Vodafone plc, a British multinational telecommunication company, with headquarters in London, has announced to launch NFC based mobile wallet service in partnership with Wirecard AG, Germany based financial services and technology company. Company will launch the flagship service in Spain in November 2013 and Germany will follow in mid December, The UK and The Netherlands will follow thereafter somewhere during Spring of 2014.
To enable this technology, Vodafone has used its mobile wallet app Smartpass. Vodafone customers with NFC enabled sim card will make contact-less payment at the PoS (Point of Sale). The payment wil be processed through Vodafone Smartpass credit balance. Wirecard will provide NFC tags for mobile phone which lack NFC technology. This NFC tag along with Smartpass app will enable customers to do the payment as described. This technology will enable customers to send payment instructions from their mobile phone regardless of the bank they use.
This service will be able to process payment at any Visa payment terminal. Vodafone is also in talks with many European banks to add this technology in their portfolio. Moreover company also plans to launch travel cards, gift cards, loyalty cards and vouchers apart from the core payment processing technology.
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