O2 closes down mobile wallet

UK wireless operator O2 is to discontinue its mobile wallet 18 months after it was officially launched.

The O2 wallet functionality included P2P payments, barcode searches for online price comparison shopping, daily discounts from major retailers (including Debenhams, Comet, Sainsbury's Direct, and Tesco Direct), debit card and cash onboarding, and a Visa pre-paid card for online and high street shopping.

In a statement on the O2 Money Website, the mobile operator says: "When we launched the O2 Wallet 18 months ago we were one of the first mobile wallets around. Since then lots has changed for us, the market and our customers. So, we've decided to close the O2 Wallet to give us time to look into new and better ways to help people manage their money on the move, both in the UK and abroad.It's been an exciting journey, so thanks for joining us. And it's not over yet - we'll let you know about any new innovations in the future. After the 31st of March you won't be able to use your O2 Wallet or O2 Money Account Card anymore - that includes sending or receiving Money Messages, using the O2 Wallet or card to shop, buy train tickets in the app or top up your mobile."

Users will be refunded.

Source: Finextra