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The race for the Mobile Wallet is underway…

by Rachel Miller April 25, 2012

Apple, arguably the world's most iconic brand, has this morning announced that their profits for the first three months of the year have almost doubled. From a net profit of $6bn last year to $11.2bn and with over 35 million iPhones and 11.8 million iPads sold this quarter, it is fair to say that numbers passed all expectations!

Here at Freshminds Talent, we are aware that many of our candidates, both fresh graduates and experienced hires love all things digital. As we continue to grow our presence in the TMT space, it is hard to miss that digitisation is in fact a focus of a much broader cross-sector of clients. It is known the Marks & Spencer, Asda and Tesco amongst many others are focusing on their multi-channel strategy above all else.

One particular focus is linked to a mysteriously named collaboration known as Project Oscar - Vodafone, Everything Everywhere and O2 have joined voices to apply for regulatory approval to create the Mobile Wallet.

If the project goes ahead, customers will be able to store debit and credit card details on their phones and pay for goods either online or by tapping the handset on a special reader using Near Field Communication (NFC) technology. Whilst Project Oscar is being reviewed, Barclaycard's 'stick-on' credit cards for phones have been introduced and are now useable at the likes of Waitrose, McDonalds, Boots, WH Smith and Tesco.

It seems that the biggest players in this field are racing to lead the mobile wallet race.  Exciting times are to come and we at Freshminds are keen to see who wins the gold medal!

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