Pelephone to launch digital wallet

Mobile carrier Pelephone Communications Ltd. has signed a cooperation agreement with Leumi Card Ltd. and Isracard Ltd. to establish a digital wallet service. The service will be launched in a few weeks.

Pelephone subscribers will be able to use a special label to make payments with their smartphones. Applicants for the service will first undergo credit check by the credit card companies. People who sign up for the service will not pay credit card fees for one year, and will receive various benefits.

Every customer will be able to receive a non-bank credit card with a magnetic strip similar to the strip on a regular credit card, and with a near feld communication (NFC) chip to make contact-less payments at businesses in Israel and overseas. Every transaction by the label or credit card will be part of the physical credit card’s credit limit and will appear in the list of transactions that the companies send to their customers.

A digital wallet application will also be launched for the smart management of expenses and to receive customized coupons. In the second stage, the companies will launch an embedded NFC chip in smartphones, which they are now working on.

Published by Globes [online], Israel business news – www.globes-online.com – on June 11, 2013