A credit card in your smartphone:Telefónica cooperates with DG VERLAG

-First credit card partner for O2 Wallet
-Pilot project with Dortmunder Volksbank eG
MUNICH. Telefónica Germany cooperates with DG VERLAG, a company belonging to the cooperative FinanzGruppe Volksbanken Raiffeisenbanken. Through the collaboration, the companies aim to further promote mobile payments. In future, customers will make payments with a virtual credit card integrated into their smartphones.
As the first credit institute of the cooperative FinanzGruppe Volksbanken Raiffeisenbanken, Dortmunder Volksbank eG is introducing mobile phone-based payments with the specialist support of WGZ BANK. For the planned start of the project at the beginning of 2013, the opportunity to make mobile payments will first be offered to a select circle of credit card customers. For this purpose the bank is integrating its credit card into the O2 Wallet, a service provided by Telefónica. "Mobile payment represents a significant component of the ecosystem surrounding our financial services," says Michiel van Eldik, Managing Director of Wholesale & Partner Management at Telefónica Germany. "The collaboration with DG VERLAG is opening up new horizons for the future".
The virtual credit card from Dortmunder Volksbank is securely integrated into the O2 Wallet. In future, payments will be made conveniently and in a contactless mode via smartphones with NFC technology. To make a payment, the customer simply holds the device up to the payment terminal to start the payment process. DG VERLAG is further developing the proven procedure for credit card provision to customers of the cooperative banks in compliance with the security demands of the credit services industry. Franz-J. Köllner, member of the executive board at DG VERLAG, explains: "Together with our partner Telefónica, we have set ourselves the technological challenge of "over-the-air" provision of credit card data. We are delighted to now also be able to offer Dortmunder Volksbank and its customers the card in the smartphone Wallet." Manfred Hoyer, member of the board at Dortmunder Volksbank, adds: "We will actively help to shape the regional project and thus incorporate the customer point of view in the overall plans."
Telefónica Germany GmbH & Co. OHG and the O2 brand belong to Telefónica Europe; it is part of the Spanish telecommunication group Telefónica S.A. The company offers German private and business customers postpaid and prepaid mobile products and innovative mobile data services based on GPRS, UMTS and LTE technologies. The integrated communications provider also offers DSL fixed telephony and broadband services. Telefónica Europe has over 105 million mobile and fixed line customers in Spain, the UK, Ireland, the Czech Republic, Slovakia and Germany. About DG VERLAG: As a media, retail and systems company Deutsche Genossenschafts-Verlag eG (DG VERLAG), located in Wiesbaden, is a partner and service provider to Volksbank and Raiffeisenbank banks, goods and services cooperatives and the companies of the cooperative association. The "Cards" division acts as a card competence centre, supplying the FinanzGruppe cooperative banks with the products of the cooperative card family.