Telef'onica rolls out mobile wallet

European mobile operator, Telef'onica Digital has partnered with Sybase 365 to build a mobile wallet service; which will be a gateway to its mobile financial services, Global Telecoms Business reports.

Matthew Talbot, senior VP of m-commerce at Sybase 365, says: “With the ongoing convergence of technology and agreement among key players in the ecosystem, mobile commerce services are a fast developing global phenomenon.”

The m-wallet provided by Sybase 365 will be a virtual wallet that will enable users to access financial services from a stored value account through to payments and peer-to-peer transfers, Telecom Paper says.

Via near field communications (NFC) technology, the service is expected to enable customers to make payments directly from the m-wallet via compatible handsets and point-of-sale terminals.

Telefonica expects to complete the first rollout of its NFC m-wallet service in Latin America and Europe during the first half of 2012, NFC News states.