4T, the joint venture between Sweden’s Telia, Tele2, Telenor and 3, has selected PayEx and Accumulate to supply the technology and services for the mobile wallet it plans to launch later this year. The two vendors are both Swedish. PayEx will develop the account holding and infrastructure services while the wallet application solution and mobile security is being handled by Accumulate. The plan is for 4T’s mobile wallet to launch in summer 2012. However the service will not use the 4T name. The joint venture will announce a new brand for the service shortly.
The mobile operators are in line with the schedule they established when announcing their joint venture at the end of November 2011. They promised more information on the joint venture early in 2012. By establishing a joint venture to run their mobile payments service Sweden’s operators are following the lead of peers elsewhere in Europe. All the country’s operators are involved in 4T with the exception of Net1, a small CDMA450 player.
One interesting side note is that Accumulate is also supplying its mobile security solution to a trial in Sweden of NFC in two retail outlets by PayPal, a leading sceptic on the technology.