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Wireless

M-payment start up PEY selects Telefonica for global M2M

Wednesday 19 October 2016 | 15:19 CET | News
German mobile payments start-up PEY has selected Telefonica Deutschland to provide global M2M services. Under the agreement, PEY uses Telefonica Deutschland's GlobalSim solution for its mobile payment terminals that use Bitcoin technology for payments via smartphones. Users download the PEY app, register themselves, give banking details and can top up the PEY wallet with Bitcoins. PEY takes a 1 percent commission on each Bitcoin purchase. The PEY system is currently in a pilot phase with around 50 shops in the Hannover borough Linden with other pilots planned to launch in other German cities.

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Categories: Mobile & Wireless
Companies: Telefonica Deutschland
Countries: Germany
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