O2 UK revealed on Wednesday it really is presently developing a series of new mobile payment products as well as plans to liberate a mobile wallet service in the course of the second half of 2011.

James Le Brocq the network's managing director of financial services told Total Telecom that O2 UK can also be in the procedure of getting an e-money license, which will allow it to provide peer-to-peer money transfers to its buyers.

"There is a lot of talk right now about Smartphones getting elegant and customers taking everything they wish to do online on the move," he explained, citing recent statistics from market research firm Foresee, which discovered that 32% of shoppers has access to the Website of retailer using their mobile phone, having a extra 32% likely to use their handset for shopping later on.

O2 Cash presently provides a Visa payment card that buyers can load cash onto and employ for shopping purposes - it sends a text alert to the owner every time it is used or topped-up. Le Brocq is eager to boost O2's financial services in the course of 2011. "We want to take the entire contents of the wallet, or purse, and set it about the mobile," said Le Brocq.

Though, he disclosed that O2's mobile wallet continues to be in development, and is "unsure" about how exactly the release version will appear. O2 UK is also in discussions with gadget makers over NFC-enabled phones, states Le Brocq, having a view to offers mobile contactless pay services at some stage in future.