Verizon to offer wireless wallets to their subscribers

Verizon Wireless has announced their m-commerce service, enabled as a BREW application from technology partner obopay as the first mobile payment offering for any major U.S. carrier, will be available in the coming weeks. The Obopay service will allow customers to receive, send and spend money via their mobile phones, check their account balances, collect money owed from other mobile users, view transaction histories and invite friends to use the system.



With the recent announcement of Verizon Wireless about its partnership with Obopay, analysts are seeing a bright future for mobile payments and for mobile commerce as a whole. Even research firm Strategy Analytics Wireless Media Strategies has reaffirmed its forecast on contactless payment. Wireless Media Strategies Service in their December 2006 report has predicted significant activity in the form of payment and ticketing trials towards the end of 2007 and maintain our projected outlook of $36 billion in spending via contactless payment interfaces on mobile phones by 2011.