Future Wallet by T-Labs: The fully digitized wallet

Future Wallet by T-Labs: The fully digitized wallet

The use of mobile devices for payment services and authorization management is an important trend in mobile communications and poses interesting market opportunities for network operators. Projects are underway in many countries; studies project more than 2 billion users worldwide for mobile payment services alone in the year 2013.

One foundation for these value-added services is the Universal lntegrated Circuit Card (UICC) - the next generation of SIM card that not only supports the familiar SIM functions for mobile communications, but also serves as a platform for the integration of a variety of third-party security apps.

Building on this foundation, T-Labs has developed a framework for solutions that, combined with NFC (near field communications) technology, enables cell phones to handle mobile payment and identity management functions. mWallet presents the opportunity to implement services in areas such as payment, tickets, bonus programs and access cards, securely and uniformly in both the real world and on the Internet.

Secure and easy to use

The Future Wallet by Telekom Innovation Laboratories (T-Labs) was developed by T-Labs and turns a cell phone into a wallet that is easy to use, yet completely secure. The user interface has a standard design, analogous to a physical wallet, with a number of different cards representing the various payment and authentication services in the mWallet.

The identity experts at T-Labs took a user-centric approach to the project that combines all the relevant aspects in a single overall concept - including business models, technical requirements and designs for the user interfaces and the technical architecture - which were ultimately transferred to the corresponding areas within the Telekom Group for creating successful products. Building on this, the Group Board of Management decided in early 2011 to transform the wallet concept into a corresponding product.

In July 2012, Deutsche Telekom and credit card company MasterCard announced their new startegic partnership and thus gave mobile payment by smartphone new impetus. Its aim is that customers can use mobile payment anywhere, comfortably, simply and securely.

The MyWallet concept will be available for Telekom customers—both consumers and service providers—as a platform and app in 2013.  MyWallet forms a virtual framework and serves as a digital wallet in every sense of the term. It can integrate all mobile commerce-related activities. To launch the cooperation, ClickandBuy International ltd., a wholly-owned subsidiary with an e-money license, will issue a payment card equipped with an NFC sticker for cashless payments. The card can be used at more than 33 million MasterCard points of acceptance worldwide. The prepaid MasterCard from ClickandBuy can be made available for NFC payment transactions on smartphones along with other payment services from other banking partners for the planned 2013 launch of the SIM card-based MyWallet NFC solution. Other value-added services—such as loyalty cards, coupons and mobile tickets—will be added to the platform.