First NFC-enabled iPhone prepaid mobile wallet in Europe

In July 2013, the first near field communication (NFC)-enabled mobile prepaid wallet was introduced in Europe. The moneto prepaid wallet, which operates with Apple Inc. iPhones, is first being deployed in the United Kingdom, with roll-outs in other European countries expected in the coming months.

The moneto wallet – the result of a partnership between U.K.- and Austria-based program manager Kalixa Group; Richardson, Texas-based mobile payments firm DeviceFidelity; and MasterCard Worldwide – integrates NFC technology into mobile phones using DeviceFidelity's patented microSD technology. The wallet also employs a combination of MasterCard's PayPass and DeviceFidelity's iCaisse technologies to enable tap-and-go mobile payments.

"The UK is one of the fastest growing prepaid markets in the world and is a leader in terms of NFC and contactless acceptance at the point of sale," said Ed Chandler, Chief Executive Officer at Kalixa. "By enabling iPhone users to make smart, simple and secure NFC transactions we are taking an enormous step towards making mobile money an everyday reality for consumers."

The wallet allows users to tap and pay for goods at thousands of retail outlets in the U.K. The service is also being configured for Android mobile phones.

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