Telefónica has announced its alliance with Visa through a bid to promote NFC payments across Europe.
Famously known as O2 by Brits, the mobile network operator reported that the partnership will conveniently allow customers to pay purchases through their O2 smartphone at Visa payWave stations in stores with the support of an NFC SIM card, thanks to the two parties’ agreement in developing mobile wallet services, NFC payments and merchant offers.
The contactless payment service will cater subscribers across Europe, and has already started in the U.K.
Telefónica Digital Financial Services director Joaquin Mata stated, “Visa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products. This market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities.”
“We are delighted to have been appointed as Telefónica’s preferred mobile payments partner in Europe. We’ve worked together for many years to deliver mobile payments and service showcases across some of the most innovative countries in Europe. This partnership will deliver mainstream, commercial mobile payments on an international level,” added Visa Europe EVP for Product and Marketing Solutions Mariano Dima.
The announcement was released a day after O2 also announced its carrier billing agreement with technology giants Facebook, Google, Microsoft and RIM.