Deutsche Telekom launches NFC-based mobile payment service

Wednesday 7 May 2014 11:08 CET | News

Germany-based telecommunication services provider Deutsche Telekom has launched an NFC-based mobile payment solution dubbed MyWallet, to enable customers to make purchases with their smartphones in Germany.

MyWallet turns smartphones into digital wallets. In addition to the app and a MyWallet-capable Android smartphone from Deutsche Telekom, customers need an NFC-enabled SIM card to use the digital wallet.

MyWallet also includes the MyWallet Card, which is a mobile MasterCard payment card. Users can pay at approximately 35,000 PayPass merchants throughout Germany and around 1.6 million merchants worldwide. Participating chains in Germany include Starbucks, Aral, Douglas, Kaufhof, Thalia, Vapiano and the Telekom Shops. Wirecard AG, a German provider of electronic payment and risk management services, is the technical service provider for the MyWallet card, and it has implemented the payment card’s technical processes within the framework of this collaboration with the card issuer, Telekom subsidiary ClickandBuy.

Deutsche Telekom provides fixed network, mobile communications, internet and IPTV products and services for consumers and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in around 50 countries and has approximately 229,000 employees worldwide.

In recent news, global provider of mobile payment services mopay has entered a carrier billing partnership with Deutsche Telekom.

For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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Keywords: Deutsche Telekom, NFC, mobile, payment, purchases, smartphones, MyWallet, card, wallets, Wirecard, ClickandBuy
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce