Deutsche Telekom Unveils their ‘Mobile Wallet’

During the Mobile World Congress, Deutsche Telekom confirmed that before the end of 2011 it will launch a Near Field Communications (NFC) service called ‘Mobile Wallet.’ The new technology will enable wireless payments from mobile devices for store purchasing and transport tickets. The NFC services will allow Deutsche Telekom to develop new business models and generate additional revenue. The company wants to introduce the program in Europe during 2011, starting with Germany and Poland, and expanding to the Netherlands and the US in 2012.

deutsche telecom for axiatelDeutsche Telekom explains that customers will only need to hold their cell phones up to an appropriate device that can read the payment for the goods they wish to purchase. To ensure the security of NFC services, Deutsche Telekom will introduce payment services based on international security standards. These standards provide the user will the right level of security on the device while the SIM card will also use mobile transmission technology. Other functions will also be introduced such as the ability to lock applications and data if the mobile is stolen or lost.

“Mobile payment systems have enormous future potential,” Kiessling added. “Not just mobile operators worldwide are working on solutions, but also Internet companies, banks and transportation companies. Customers, however, will not accept isolated solutions. They want to be able to pay as easily as they would in terms of cash or credit card. And with the “Mobile Wallet” we can offer our customers convenient and secure mobile payment.”

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