As O2 launches its O2 Wallet, PayPoint retailers can “look forward” to an increase in customers coming into their stores and spending extra cash at the same time they load up the innovative digital wallet service.
O2 Wallet is the new way for consumers to send and receive money, compare prices and shop via their mobile. As customers from any network can apply for an O2 Wallet, PayPoint retailers will be able to load cash into the O2 Wallet of customers from any network coming to their stores.
O2 Wallet offers both a physical and a virtual O2 Money Account Card. Both are based on a Visa prepaid account with the physical card being contactless, making it fast, easy and convenient.
Seamus Smith, managing director, PayPoint UK & Ireland, said: “The ‘virtual’ O2 Money Account Card is perfect for online shopping and, as it’s a pre-paid card and ideal for customers who want greater control over their finances by only putting on the card what they want to spend, they will be making regular visits to PayPoint retailers to top them up.
“Those of our retailers with PayPoint supplied contactless credit/debit card pin pads will benefit even further as O2 Money Account Card is contactless, which means that users will look out for places where they can use their contactless card to make purchases. Over a third of our network is now contactless, making it one of the largest national contactless networks in the UK.
“This is yet another example of PayPoint working hard to ensure that its retailers benefit from the best and most innovative new products and developments across our markets, so that we can drive more customers into their shops and help them to boost their sales. There are more such opportunities in the pipeline, which I look forward to announcing in the future.”
Banking and shopping via mobile devices in the UK is growing rapidly. The proportion of people using mobile banking increased from 9.7% in 2010 to 20.4% in 2011; whilst shopping on mobile devices is set to increase by 53% in the next 12 months hitting £4.5bn and making Brits the biggest mobile shoppers in Europe.