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EUROPEAN MOBILE NETWORK Telefonica announced today that it has joined forces with Visa in a bid to push NFC payments across Europe.
The mobile operator, better known as O2 to us Brits, said that the partnership will see the two organisations co-invest in the development of mobile wallet services, NFC payments and merchant offers. This means that O2 customers will be able to pay for goods using their O2 smartphone at Visa Paywave terminals in stores, no doubt with the aid of an NFC SIM card.
While O2 and Visa already have an agreement in place here in Blighty, the deal will see the mobile operator roll-out contactless payments throughout Europe.
"Visa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products," said Joaquin Mata, director of Financial Services at Telefónica Digital.
"This market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities."
Mariano Dima, EVP of Product and Marketing Solutions at Visa Europe, added, "We are delighted to have been appointed as Telefonica'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."
This development comes just a day after O2 announced a carrier billing agreement with the technology giants Facebook, Google, Microsoft and RIM. µ