Telef贸nica and Visa form strategic relationship to develop m-commerce across Europe

Telef贸nica and Visa form strategic relationship to develop m-commerce across Europe

One day after we reported on聽Telef贸nica鈥檚 mobile billing partnership with Facebook, Google, Microsoft and RIM, the Spanish communications giant has announced a 鈥渟trategic relationship鈥 with Visa Europe, which will see the finance firm become its preferred mobile payments鈥 partner across the continent.

The partnership is geared towards driving new m-commerce business across Telef贸nica鈥檚 European operations. Both companies will be co-investing and developing products and services around mobile wallet, contactless payments (NFC), acquirer services for mobile point-of-sale, and merchant offers.

The agreement builds on Telef贸nica and Visa Europe鈥檚 existing relationship in markets such as the UK and Ireland, and will seek to expand this to a Europe-wide level. This will see Visa become Telef贸nica鈥檚 preferred partner for branded payments cards in Europe, and related mobile payment services.

Back in March, mobile payments platform Boku secured a whopping $35m in funding from Telef贸nica Digital and a host of other investors, to help it launch point-of-sale (POS) transaction technology in physical stores, with payments being charged to the user鈥檚 mobile phone bill.聽 So this is clearly an area Telef贸nica is betting big on.

Telef贸nica has already launched a mobile wallet service to customers in the UK, under its local O2 brand, and has confirmed that it鈥檚 working to launch mobile wallets across its other markets. The relationship with Visa Europe will let Telef贸nica access expertise within the network of Visa鈥檚 partner companies.

鈥淰isa has been an important partner for a number of years in Europe, helping us to trial, test and ultimately launch mobile payments products,鈥 said Joaquin Mata, Director of Financial Services at Telef贸nica Digital. 鈥淭his market has enormous untapped potential and through this partnership with Visa Europe we aim to unlock significant new business opportunities.鈥

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