O2 launches O2 Wallet in U.K.

It was already rumored that U.K. mobile network O2 is on the verge of launching its own wireless payment service this year. Well, the rumor has been stripped of its doubts as the company announces the launching of the O2 Wallet today. O2 mobile network describes its O2 Wallet as a seamless and secure digital wallet service that delivers the benefits of mobile money to customers in U.K., more than any other current service available today.

Basically, O2 Wallet will allow its users to send and receive money through their mobile phones via a mobile app. Users can also compare prices and shop online while on the go. It’s as easy as sending a text message, O2 said. Using so-called “Money Messages”, users can initiate daily transfers up to £500 without the need for a card reader.

For shopping, O2 Wallet has a barcode and a search engine function to compare prices around 100 online retailers while availing daily discounts though the app’s “My Offers” icon.Loading money into the O2 Wallet is hassle-free. O2 says that you can use your debit card to load your wallet in a snap. Additional features include a transaction history that keeps track of expenses and text alerts to prompt users each time your account balance is charged. O2 Wallet is compatible with iPhones, iPads, Android smartphones as well as BlackBerry.