German Operators Team on Mobile Money

Telefonica Germany, Deutsche Telekom and Vodafone Germany plan mobile payment company

August 17, 2011

1 Min Read

MUNICH -- Telefónica Germany, Telekom and Vodafone are pushing ahead with their joint activities in mobile payments. The three telecommunications providers intend to register their payment service mpass as own company, and have signed a letter of understanding to this effect. The new company is due to begin operating as early as this year.

More and more customers are taking advantage of convenient and secure payment via mobile or stationary internet from a mobile phone. Once the mobile payment scheme mpass is up and running, the three telecommunications providers plan to expand on their position in mobile payment. The new company will concentrate on stepping up distribution and marketing activities, as well as developing new products. Aided by new technologies such as Near Field Communication (NFC), users will soon be able to make simple, secure and wireless payments in high-street shops, too.

mpass is the mobile payment service of Telefónica Germany, Telekom and Vodafone. The service enables secure mobile and soon contactless payment for mobile phone users of all Germany's networks. What is especially interesting is that sensitive customer data such as bank details are not sent to the trader as part of the purchase process. The payment order can only be authorised from the buyer's mobile phone.

Telefónica Deutschland GmbH

Vodafone Germany

Deutsche Telekom AG (NYSE: DT)

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