The same payment options and look and feel regardless of network provider.
Telia, Tele2, Telenor and 3 have teamed up to form a JV called 4T to manage the service.
All account holding and infrastructure services will be developed and operated for 4T by PayEx.
Meanwhile the mobile wallet app and the security component are based on Accumulate’s platform, ME.
The 4T mobile payment service will be an alternative for cash and card payments and will cover all payment situations on any network or handset.
Of course, these kinds of projects have been established before. Examples include Payforit in the UK and Gallerie in France.
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However, they were WAP-based systems that were arguably ahead of their time, and had obvious flaws.
In the current climate, with m-commerce in the mainstream and smartphones transforming the UE for making payments, the need for harmonisation is probably more pressing.
The joint mobile wallet service is planned for launch before this summer. The service will at launch be available for 97 percent of Swedish mobile subscribers and covers almost any mobile handset delivered from 2006 onwards.
It will support online and person-to-person payments as well as man-to-machine transactions such as vending machines, parking meters, charging of electrical cars.
And the system can handle NFC when it becomes available too.
”This is a major breakthrough for mobile payments and an important milestone and approval of our technology. The Swedish operators have the opportunity and the will to be part of setting a new and open standard for mobile payments that combine security, ease of use and flexibility in a cost effective way”, said Stefan Hultberg, CEO of Accumulate.
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