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MyWallet Launches for Deutsche Telekom

Mobile Commerce Insider Featured Article

May 13, 2014

MyWallet Launches for Deutsche Telekom

By Oliver VanDervoort
Contributing Writer

Digital wallets are becoming all the rage these days. Companies are bending over backward in order to get Google Wallet integration, and there are plenty of other companies that are trying to come up with competitors to that particular application. MyWallet is one such app -- being launched by Deutsche Telekom (News - Alert) -- that will allow customer to pay for a huge variety of items using only their smartphones.

The application comes along with a digital payment card and an NFC sticker to allow for contactless mobile payment across Germany. The launch of MyWallet is an important milestone in the digital payments market. The biggest news is that Deutsche Telekom customers will have access to other digital services in the very near future.

“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,” Michael Hagspihl, Director of Marketing at Telekom Deutschland said in a statement announcing the new program. “All customers who sign up for mobile payments with the MyWallet Card now will get an introductory bonus of up to 40 Euros.”

The application has already been approved for more than 18 different smartphone models. It can be downloaded as a free app from a Google (News - Alert) Play Store. While this is a nice touch for people who are customers of Deutsche, the digital wallet market is already changing quickly and MyWallet is going to be hard pressed to keep up.

Google Wallet, for instance, is already making the move from smartphones to other devices. Google Glass already has its own version of Google Wallet worked into that particular device. The ease of payment that comes with touchless payments is something that is getting bigger all the time. In order to really compete, MyWallet is going to have to come up with some new bells and whistles. Still, what it offers now is fine for what customers are looking for on most days.

Edited by Rory J. Thompson

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