Vodafone and Visa have announced a partnership to enable consumers to pay for goods and services using their mobile phones.
Available to Vodafone’s 398-million customer base across the globe, the mobile wallet service will feature a Vodafone stored value account – based on the Visa prepaid account – that uses Visa payWave technology to perform mobile contactless transactions at the point of sale.
In addition to payments, the mobile wallet will also hold customers’ loyalty accounts and store coupons, according to the partners.
The service will initially be launched in Germany, the Netherlands, Spain, Turkey, and the UK during the coming financial year. Other countries within Vodafone’s global portfolio will follow.
According to Visa, the platform will be open to all partners of all relevant industries – e.g. financial institutions, retailers, transport and utility companies – to host their services within the new Vodafone mobile wallet.