Deutsche Telekom Launches Mobile Payment Service
News: Germany-based telecoms operator Deutsche Telekom (DT), which operates under the Telekom Deutschland brand, has launched MyWallet, a contactless mobile payment service that allows customers to make purchases with their smartphones. At present 18 smartphones from Sony and Samsung are able to support the service, which can be downloaded as a free app from the Google Play Store. Apart from the Android smartphone and app, customers also need an NFC-enabled SIM card to use MyWallet. Subscribers who sign up for mobile payments with the MyWallet Card will receive an introductory bonus of up to EUR40 (USD55.6). The service can be utilised at more than 35,000 PayPass merchants across Germany and more than 1.6mn merchants globally. The operator also plans to launch mobile payment products in Slovakia in mid-May, and in Hungary later in 2014.