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PayEx to participate in NFC & Mobile Money Summit – showing Sweden's answer to the mobile wallet

Pressemelding   •   okt 23, 2012 08:29 CEST

During 22-25 October, PayEx is in Milan at the NFC & Mobile Money Summit, the annual international trade fair for mobile payment solutions. New and existing technology, tomorrow's mobile payment solutions and changes in consumer behaviour are all presented here. PayEx will demonstrate WyWallet, the Swedish answer to the mobile wallet, to an international audience.

Interest in future and existing mobile payment solutions is very high and people come from all over the world to spend four days demonstrating the very latest technology in the area, discussing the payment solutions of the future and how they will affect consumer behaviour, creating partnerships and finding new customers. PayEx will be present at the summit and is behind the technology and operation of WyWallet, the Swedish answer to the mobile wallet.

-   Right now we are at an exciting stage where we can see that mobile payments are hardly out of the cradle. This is a chicken and egg situation. Before consumers want to start using mobile payment services there must be widespread network structures and user-friendly services - and vice versa. Consumers alone cannot drive the movement towards the use of mobile payment services; dealers must get involved too. But once the ball starts rolling, things happen very quickly,", says Mikael Hellberg,  Business Area Manager Mobile Payments at PayEx. 

WyWallet was launched this summer as the mobile payment solution of the four major Swedish operators. These companies' market share makes it possible for 97 per cent of Sweden's mobile phone users to use this solution. Behind the technology are PayEx and technical partner Accumulate. PayEx is responsible for the development and operation of the extensive service infrastructure needed to handle mobile payments. The advanced technology and infrastructure behind WyWallet makes it possible to pay via the mobile phone across all channels - on the internet, in physical shops, by SMS and to transfer money from person to person.

Try out different payment solutions on the stand

Visitors to the PayEx and Accumulate stand can try out all parts of the WyWallet payment solution. At three different stations on the stand, visitors can perform simulated purchases using different channels: via the internet, from person to person and physical NFC payment. At one station, visitors can also get a complete picture of the entire infrastructure and technology behind the solution.

A trade fair to promote growth

NFC & Mobile Money Summit is considered by many to be the most important annual industry event for mobile payment solutions. The event brings together leading executives from financial services and institutions, mobile operators, development organisations, program developers and goods and service suppliers, as well as legislators and political decision makers. The idea is to create an environment to cement relationships, build ideas and promote the growth of mobile payment solutions.

For further information, please contact:

Mikael Hellberg, Business Area Manager Mobile Payments, PayEx, +46 (0)70 -740 78 98, mikael.hellberg@payex.com

Louise Gauffin, Nordic Marketing Manager, PayEx, +46 (0)73 -355 35 55, louise.gauffin@payex.com

 

PayEx is a privately owned group, with its head office located in Gotland. The group comprises a number of companies, with about 500 employees in four countries: Sweden, Denmark, Norway and Finland. PayEx offers payment solutions for internet, mobile and physical trading, as well as administrative services in invoicing, ledger management and debt recovery. PayEx also offers financial services such as factoring, part-payment and loans.

In 2009, PayEx launched a solution for mobile payments. This has since been developed into a complete infrastructure for mobile payments between persons, on the internet, in shops, at product vending machines and not least for mobile websites, applications and SMS.

WyWallet is a joint initiative by Sweden's mobile operators (Telia, Tele2, Telenor and 3) and the new standard for mobile payments. These companies' market share makes it possible for 97 per cent of Sweden's mobile phone users to use this solution. Through their respective operators, users can:

  • pay for SMS purchases by mobile invoice, bank card, separate invoice or WyWallet account
  • transfer money to other WyWallet customers directly in the app
  • shop simply and securely on the internet and in other apps
  • get credit on Swedish pay-as-you-go phones directly in the WyWallet app

NFC (an abbreviation of Near Field Communication) is a standard for the wireless exchange of data. With the aid of an NFC based terminal and an NFC equipped mobile phone (the NFC chip is built into the mobile phone or in a sticker that can be applied to it), only rapid contact at short distance is needed to complete a transaction. NFC is already used for a range of services, such as entry cards, public transport tickets etc.

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