Google May Expand Mobile Wallet Services Overseas

This week, reports surfaced that Deutsche Telekom AG is in protracted discussions with Google – not to mention other top credit card companies and banking institutions – to expand its mobile-payment platform. Thomas Kiessling, the company’s head of innovation, told Bloomberg that the reports of Deutsche Telekom’s desired expansion in this channel are true. Europe’s …   Read More

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This week, reports surfaced that Deutsche Telekom AG is in protracted discussions with Google – not to mention other top credit card companies and banking institutions – to expand its mobile-payment platform.

Thomas Kiessling, the company’s head of innovation, told Bloomberg that the reports of Deutsche Telekom’s desired expansion in this channel are true.

Europe’s second-largest phone company yesterday unveiled an alliance with Mastercard Inc. (MA) (MA) in Europe over its mobile wallet, which allows customers to pay bills using account information stored on handsets. While banks and software companies are working on their own offerings and 50 to 60 different mobile wallets are entering the market, only three or four platforms will survive, Kiessling said.

“We’re talking to other players in the market, and even a cooperation with Google is theoretically possible,” Kiessling confirmed. “We’re in talks there as well,” he added, withing giving many further details.

For now, Google won’t speak publicly to the matter. But insiders maintain that some big news may be right around the corner.

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