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Wallet Database

TIM Wallet

17th of November 2016

Overview



  • Summary: TIM wallet is a cards-based digital wallet for NFC-contactless purchases operating in Italy only and launched in Feb 2013.

  • Websitehttp://www.wallet.tim.it/app/

  • Status: Live 

  • Market: Italy (Feb ’13)

  • Type: Other

  • OwnershipTIM, which is the mobile phone brand of Telecom Italia and is the leading mobile operator in Italy with over 30 million subscribers.

  • Functions: Retail payments

  • Payment Mode: Cards-based

  • Channel: POS via NFC

  • Roadmap: n/a

User Experience



  • Registration & set up: App is only available for Android phones, and therefore it can be downloaded from Google Play. TIM Wallet is open to all TIM customers who have a bank account with one of the 4 supporting banks: Intensa Sanpaolo, Mediolanum, BNL bank or Hello. A NFC TIM card and a NFC enabled smartphone are required. Users who do not have a NFC TIM card can request one for 10€.  (This description is based on NFC contactless payments)



  • Making a payment: NFC payment initiated by bringing the smartphone within a few centimetres of a contactless terminal. For amounts up to EUR 25 it is not necessary to enter the PIN, otherwise authenticate with PIN. App must be open. User can select the desired card to make the payment. Once selected, user has about 1 minute to make the payment, then the application is automatically deactivated.

Payment Flows & Technology



  • Merchant perspective: The merchant processes a payment using their existing payments processing systems. (Update to follow – further information being obtained)

  • Security: Payment transactions are encrypted and all data are stored on the SIM card of the smartphone, using high-security systems (Update to follow – further information being obtained)

Business Model



  • Strategy: (Update to follow – Further information being obtained)

  • Payee fee: No charge for merchants

  • Payer fee: No charge for consumers 

Performance Data



  • Launch date: Italy (Feb ’13)

  • Closed Date: N/A

  • Users: No data yet

  • Retailers / merchants: No data yet

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: No data yet 

Contact (MobeyForum Members only)



  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A