Customers in the UK and four other European countries will be able to make mobile payments using their smartphones from the coming financial year
Vodafone and Visa has entered into a global partnership to enable customers to pay for goods and services using their mobile phones.
The companies will develop a Vodafone-branded proposition that will be offered to consumers across Vodafone’s 398 million customer base in more than 30 countries across five continents. It will be enabled by Visa’s payment network, product suite and brand.
The Vodafone mobile payment proposition will be based on the Visa prepaid account and offered to consumers in partnerships with Visa Issuers.
Users of the Vodafone stored value account will be able to make purchases at the point-of-sale using NFC enabled smartphones equipped with Visa’s mobile payment technology, payWave for mobile.
To make a transaction, they can wave their smartphone in front of a payment terminal and make purchases such as bus and train tickets, newspapers and magazines.
Consumers will also be able to make high-value purchases securely using a passcode.
The service will initially be launched in the UK, Germany, Spain, Turkey and the Netherlands in the coming financial year, with other countries within Vodafone’s global portfolio to follow.
In addition to the Vodafone-branded stored value account inside the mobile wallet, the two companies will work together to enable Visa Issuers for mobile payments globally.
The platform will be open to all partners of all relevant industries, including financial institutions, retailers, transport and utility companies to host their services within a new Vodafone mobile wallet.
Vodafone Group CEO Vittorio Colao said: “The Vodafone mobile wallet represents the next stage of the smartphone revolution.
“It offers our customers the speed, simplicity and convenience of managing their everyday transactions with a single wave or tap of their smartphone, using innovative and reliable services developed by Vodafone and Visa – technology and providers they can trust.
“Our mobile wallet will be open to any service provider and we are committed to enable all partners to provide our joint customers the richest service portfolio possible.”