Telefonica and Sybase formed a new partnership through their subsidiary operations to expand mobile wallet service offerings in Europe and Latin America, according to a report by The Paypers.
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Subsidiary company Sybase 365 will work with Telefonica Digital to develop mWallet, a mobile wallet that will integrate with stored value accounts and allow for peer-to-peer transfers. According to The Paypers, (1) the mWallet will be designed to store prepaid, debit, credit, and loyalty cards, and will process payments by interfacing either with other compatible handsets or at specially designed point-of-sale terminals.
The launch date for mWallet is estimated by the companies to occur in the first half of 2012, The Paypers says.
Telefonica S.A. is a giant in the global telecommunications space, while Sybase — itself a subsidiary of SAP AG — develops enterprise and mobile software.
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