The e-wallet is closer than you think.
O2’s Aideen Chambers says that revolutions like near field communications on mobile devices will transform payments forever.
The O2 Money card marks the expansion of O2 into the financial services area within Ireland. We see this as a really exciting area to bring our expertise, our two pedigrees of customer service and product innovation together. If you look at the synergies that are already happening between mobile and money, such as the developments with e-wallets, near field communications (NFC) and those capabilities, we see this as an opportunity for O2 to play a significant role in this area. We’re bringing customers with us, starting with the O2 Money Card and getting customers used to using O2 for their financial services and money management as the first step for us in that journey.
With regards to NFC, we know the technology already works, as we’ve seen that within the NFC trials our Telefónica group undertook in Europe. O2 UK is doing a lot of work on this, as well. The great thing is that in Ireland we don’t need to start from scratch. Locally, the challenge for us is consumer adoption and taking the customers with us on that journey, which is why it’s really important that we start with the Money Card and get customers used to using that, as well as trusting us with their money management.
Aideen Chambers, head of financial services in O2 Ireland, talks about
the O2 Money Card and NFC
If you look at some of the innovations we already have, such as with the Money Card, there are smartphone apps which let you transfer money card to card instantly. This shows what the mobile industry can bring to something as traditional as financial services.
Another challenge for us in the Irish context is making sure that you get the retail side of the industry to see these benefits and to accept the area of contactless and, later on, NFC payments.
