Only just launched in April 2012, the service is going to be abandoned on March 31, 2014.
O2, a mobile network operator in the United Kingdom, has announced its intentions to shut down its mobile wallet service as of the end of March, this year, after only two years of operation.
The service offered a number of different features to its users through their smartphones and tablets.
Among the services available through this mobile wallet was smartphone and tablet based shopping, money transfer and offer services. Moreover, it also included a Visa contactless card and the tracking of transactions. It was originally intended to be one of the services that would be broadening to include the use of NFC technology among its supported tech.
The O2 mobile wallet was among the very first to enter into this part of the smartphone payments space.
A statement released by the carrier said that when they started the service in 2012 they were one of the first around. However, it also added that “Since then lots has changed for us, the market and our customers. So, we’ve decided to close the O2 Wallet to give us time to look into new and better ways to help people manage their money on the move, both in the UK and abroad.”
They did express that the journey itself has been exciting one for the company and it thanked those who took part in it. They also added that “it’s not over yet” and that they will be making other announcements regarding new innovations that would be occurring into the future.
They did want to make it clear that after the end of March, this year, consumers who had previously using the O2 mobile wallet service would no longer be able to do so, nor would they have access to the O2 Money Account Card. This also includes being able to send or receive the service’s Money Messages and being able to use the card or wallet for shopping. Moreover, train tickets will not be purchased through the app and cell phone top ups will also not be available.
PayPal announces retail expansion of its mobile wallet service
PayPal has announced that it is expanding its mobile wallet service to five new U.S. retail partners. This will increase the number of stores that accept mobile payments using the PayPal mobile wallet to 18,000 nationwide. PayPal has shown an intense interest in mobile commerce over the past year, hoping to engage a new generation of consumers that prefer to make purchases using their mobile device rather than traditional forms of payment. PayPal is one of the few companies that is ideally suited for the emerging mobile commerce arena because of its longstanding focus on digital commerce.
Company signs new deals with several retailers
PayPal has signed new agreements with RadioShack, Dollar General, Famous Footwear, Mapco Express, and Spartan Stores, as well as two other retailers that have not yet been identified. These stores will feature support for PayPal’s mobile commerce processing technology, which will allow consumers to purchase products using their smart phone with funds that are associated with their PayPal account.
Mobile wallet from PayPal avoids NFC technology
PayPal launched its mobile wallet in early 2012 to a limited market. The company has been testing the mobile commerce waters ever since, making modest advances in its hold on the market and showing caution in terms of consumer security. Notably, PayPal’s mobile wallet does not support NFC technology, which has become a common foundation for the mobile commerce sector. This is because PayPal was unconvinced of the security features that were associated with the technology, opting instead to institute its own technology and software to ensure the protection of its customers.
Success of mobile wallet may put PayPal on par with Google and Isis
The company has been championing its alternative to NFC technology for several months, suggesting that it provides consumers with a more secure way to participate in mobile commerce. By expanding its retail partnerships, PayPal is looking to make its wallet more available to a wider audience. If the company’s service continues to provide successful, PayPal may soon emerge as a major competitor with others in the mobile commerce sector, such as Google and Isis.
