DT unveils mobile payment service MyWallet

7 May 2014

Deutsche Telekom (DT), which provides fixed and mobile services in its domestic market under the brand Telekom Deutschland, has announced the launch of ‘MyWallet’, a contactless mobile payment service which enables customers to make purchases with their smartphones. At present 18 smartphone handsets from Samsung and Sony are able to support MyWallet, which can be downloaded as a free app from the Google Play Store. In addition to the Android smartphone and app, customers also need an NFC-enabled SIM card to use the service. ‘In the future, our customers will not only use their digital wallets to make easy, secure payments, but also store concert tickets, membership cards or bonus points,’ commented Michael Hagspihl, director of marketing at Telekom Deutschland, adding that all customers who sign up for mobile payments with the MyWallet Card now will received an introductory bonus of up to EUR40 (USD55.6). Users can pay at more than 35,000 PayPass merchants throughout Germany and more than 1.6 million merchants worldwide. DT says it also plans to launch mobile payment products in Slovakia in mid-May and Hungary later in the year.