DUBLIN--(BUSINESS WIRE)--O2 Money customers across Ireland are set to enjoy new levels of functionality and flexibility with the launch of new O2 Money applications on both the Apple and Android platforms.
Developed for O2 by leading Irish Payments Company 3V Transaction Services Ltd, the new app, which is free, now enables O2 Money customers to transfer funds between O2 Money cards in real time irrespective of where either sender or recipient is located.
Providing an efficient money transfer system, which costs €1 for any amount transferred up to €350, recipients can spend the money on the card in-store or online or to withdraw funds at an ATM. App users also benefit from a dashboard feature providing balance checks and transaction history. Additional functionality includes a Google map feature which provides O2 Money customers with the nearest top-up store location and directions on how to get there.
Launched in February, the O2 Money card marked the expansion by Telefónica O2 Ireland into the financial services market. 3V Transaction Services Ltd provides the end to end operating platform for ‘O2 Money’. The apps functionality is delivered via 3Vs OPEN platform, which is designed to facilitate Mobile Operators enter the financial services space.
The O2 Money card is neither a credit nor a traditional debit card, but rather a prepay money card onto which money is loaded in advance of it being used. Because of this customers can only spend what they put onto the card, helping them to manage their budget more effectively. It offers all the benefits and flexibility of a chip-and-pin payments card in addition to the security and control of a prepay card.
Since its launch, over 15,000 people have signed up to O2 Money. Of these 77% of customers are in the 18-44 age bracket, with 60% of cards purchased by men since launch. 76% of transactions have been online, with retailers, auction sites and airline sites proving most popular. For the 24% of transactions offline, it would appear customers are already using the card to manage household expenditure with the majority of usage being in supermarkets, pharmacies and convenience stores.
Speaking about 3V’s latest developments for O2 Money, Kieron Guilfoyle, CEO 3V Transaction Services Ltd, said, "The development of the Apps for both the Apple and Android platforms provides O2 Money customers not only with greater flexibility but crucially provides a very efficient money transfer system."
The O2 Money card is available to purchase in O2 Stores nationwide by customers of any Irish mobile operator who are over 18 years of age. Customers can load (top-up) anything from €20 to €350 per day onto their card which, because it operates on the Visa platform, can be used almost anywhere that accepts electronic Visa payments, at home or abroad, in-store or online. As such the card can be used however the customer wants to use it – for everyday purchases such as groceries in their local supermarket, to purchase clothes or to book flights or concert tickets online. Whenever customers need to load or top-up their O2 Money card they can do so via their internet banking or in any O2 retail store or in over 1,500 Payzone outlets nationwide.
3V Transaction Services Ltd is an Irish Payments company providing innovative prepaid debit solutions across the globe with live deployments in Ireland, mainland Europe and North America.
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