Deutsche Telekom has announced the launch of the MyWallet app and MyWallet Card to let customers in Germany make purchases with their smartphones. All customers who sign up for mobile payments with the MyWallet Card now will get an introductory bonus of up to EUR 40. MyWallet can be downloaded as a free app from the Google Play Store. Thomas Kiessling, Chief Product & Innovation at Deutsche Telekom, said that it planned to launch mobile payment products internationally later in 2014, including Slovakia in mid-May and Hungary later in the year. In addition to the app and a MyWallet-capable Android smartphone from Deutsche Telekom, customers need an NFC-enabled SIM card to use the digital wallet. Deutsche Telekom customers who already use a suitable smartphone can order the NFC SIM card free of charge.
The first MyWallet service is a payment card. The MyWallet Card is a prepaid MasterCard. Users can pay at more than 35,000 PayPass merchants throughout Germany and more than 1.6 million merchants worldwide. Partner chains in Germany include Starbucks, Aral, Douglas, Kaufhof, Thalia, Vapiano and the Telekom Shops. The card is issued by ClickandBuy International, a Deutsche Telekom subsidiary. Additional MyWallet products will be launched in summer 2014. These will include a partnership with Tank und Rest to enable MyWallet and other contactless payment systems at 400 motorway rest stops across Germany. From June, customers will be able to store digital coupons from supermarket chains Hit and Edeka using MyWallet.
Bonn has been selected as the flagship city for supplying mobile payment terminals, with around 1,000 acceptance points in restaurants, shops and filling stations. Wirecard, German provider of electronic payment and risk management services, is the technical service provider for the MyWallet scheme.
Source: Telecom Paper.