Mobile Financial Services with Sybase Mobile Wallet

RMN Digital | February 14, 2012 | Applications, Consumer, Corporate, Enterprise, Europe, Finance, Lifestyle, Masses, Mobiles, Regions | No Comments

Sybase 365, a subsidiary of Sybase, Inc., which is a provider of mobile messaging and mobile commerce services, has announced a global, strategic partnership with Telefonica Digital to provide mobile wallet services. The announcement was made today, Feb. 14.

Sybase 365 will help develop Telefonica’s mWallet, which will be the gateway for its customers to a wide range of mobile financial services. The mWallet, provided by Sybase 365, will be a virtual wallet which will offer a convenient and secure way of accessing a range of services from a stored value account through to payments and peer-to-peer transfers.

It will be capable of storing prepaid, debit, credit and loyalty cards, thereby simplifying online purchases. And as NFC technology becomes more widespread, it will be possible to make payments directly from the wallet via compatible handsets and point of sale terminals.

[ Also Read: Can a Mobile Device Double as Phone and TV? ]

The partnership with Sybase 365 is the latest development as Telefonica builds its global capabilities in the mobile financial services space.

“With the ongoing convergence of technology and agreement amongst key players in the ecosystem, mobile commerce services are a fast developing global phenomenon,” said Matthew Talbot, senior VP of mCommerce, Sybase 365.

Telefonica expects to see the first commercial wallet services launching in Latin America and in Europe during the first half of 2012.

Sybase has also issued its second annual Mobile Commerce Guide 2012: Strategies for Financial Institutions, Mobile Operators and Enterprises to Implement mCommerce services in Developed and Emerging Markets.