M-wallet: WyWallet Available in Sweden

• The Swedish JV 4TSverige including Telia, Tele2, Telenor and 3, has just launched their mobile wallet, WyWallet, covering 97% of the country’s mobile phone users.

• Among the already proposed services: P2P transfers, SMS payments of transportation tickets, m-commerce and prepaid accounts topping-up. Contactless face-to face payments will be tested starting July in Visby (Gotland Island) and nationwide rollout is planned for 2013.

• WyWallet, available in Android and iOS, will also be proposed in Windows Phone. The Swedish telcos also count on the P2P specialist Swish already supported by several banks (among which Nordea, Danske Bank and SEB).

Source: NFC World

• 4TSverige was created in November 2011 to cater for the development of a nationwide solution by 2012. This “universal” product available with different operators was aimed at streamlining both funds transfers and customer experience (moves from one operator to the other should also be facilitated).

• Last January, the JV announced having selected PayEx and Accumulate for technical support. It relies on their know-how to include contactless technologies and ensure the portability of this new service on the largest possible number of systems and models (see January 2012 Insight).

• This announcement also highlights Sweden’s interest in the mobile payment sector, as it already counts one of the major European players on the acceptance market, iZettle, now displaying international ambitions (see May 2012 Insight).