Unified Communications Featured Article

O2 'Digital' Wallet Makes Payment as Easy as Messaging

April 30, 2012

The digital wallet, an e-cash service, is a method of storing various forms of electronic money. It works like a physical wallet and allows internet users to use their money for online shopping and other financial transactions.

 According to a press release, O2 Wallet, one particular ‘digital’ wallet currently available, can revolutionize the way payments are made. 02 Wallet lets consumers securely transfer money to any U.K. mobile phone number as easily as sending a text. So whether they’re at beach, bar, shopping mall, home or office, they can receive or send money of between £1 and £500 daily.

O2 Wallet offers both a physical and a virtual O2 Money Account Card, and these cards are based on a Visa prepaid account – ideal for customers wanting to manage their finances as they can only spend what they put in.  

The ‘virtual’ O2 Money Visa Account Card is perfect for Web shopping, and the physical O2 Money Visa Account Card can be used to make payment in stores or withdraw cash from ATMs.

“O2 Wallet delivers the benefits of mobile money to more U.K. consumers than any other product or service currently available,” said James Le Brocq, Managing Director at O2 Money. “With O2 Wallet, it’s easier to transfer money, track expenditure and pay swiftly and securely, all using your mobile. We believe it will transform the way people manage their finances and spend money.” 

This card has a comprehensive barcode and search engine function to compare the prices of millions of branded goods from more than 100 online retailers. It also tracks ‘transaction history’.

Consumers can see their expenditures with texts alerts, and stay informed about daily discounts and deals through a ‘My Offers’ icon.

Edited by Braden Becker

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