Vodafone and Visa Introduce the 'Mobile Wallet'

By Bizclik Editor

Unable to pull out cash from that crashed Commonwealth Bank ATM for that flat white purchase? No worries.

In an effort to keep up with mCommerce in Australia, Vodafone has introduced the ‘mobile wallet,’ which will give shoppers the ability to pay for products or services with their smartphone.

In a partnership with Visa using Near-Field Communication (NFC), the service will utilise the credit card giant’s payWave mobile payment technology, which docks the payment from the user’s prepaid account. The service is said to be similar to the London Underground’s Oyster pay-as-you-go card.

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Any purchase under AU$22 requires a simple wave or tap of the phone; otherwise a pin code is required “so no one can run off with your phone and charge a Ferrari to your account,” a Gizmodo contributor joked.

 "Our mobile wallet will be open to any service provider and we are committed to enable all partners to provide our joint customers the richest service portfolio possible,” Vodafone chief executive Vittorio Colao told Computerworld. The service has "the potential to transform the way people pay and get paid the world over.”

The service is set to launch globally this autumn.

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