Dallas, Texas 09/09/2014 (ustradevoice) – Vodafone Group Plc (ADR) (NASDAQ:VOD) will launch a mobile payments service next month, Financial Times reported in an article. The company’s mobile payment launch comes amid plans by Apple Inc. (NASDAQ:AAPL) to also launch a mobile payment platform this week. Apple is likely to beat Vodafone to the market with a mobile payment solution.
U.K. On Target
Vodafone is set to join the growing number of tech companies that are actively innovating on the mobile front. The company intends to launch a mobile wallet service next month, and its first target is the U.K. The company has reportedly been working with global money transfer provider, Visa Inc, to develop its own mobile payment solution. Vodafone’s promised mobile wallet will feature a special SIM card that can be used to make payments at numerous tills.
Vodafone Group Plc (ADR) (NASDAQ:VOD) plans to bring its mobile payment service to consumers later this year. However, Apple is expected to launch its new iPhone series, iPhone 6, this week and the device is expected to come with a mobile payment capability.
Technology companies, especially those in the telecom industry, are trying hard to boost revenue growth through innovative products. That is happening as competition for voice and text revenue increases while customer spending on the same also softens. As such, data and mobile payment are emerging as some of the attractive segments for Vodafone Group Plc (ADR) (NASDAQ:VOD) and its peers.
Strategic Deals
Vodafone recently offered about $97 million to acquire Hellas Online, a Greek broadband company. The acquisition is expected to help Vodafone increased its broadband in Europe footprint even as it seeks to tap more revenue from the segment. The $97 million investment allowed Vodafone to bring its stake in Hellas Online to 91.2% up from 18.5%. It plans to make an offer to buy the rest of Hellas Online.
Vodafone Group Plc (ADR) (NASDAQ:VOD) sold its stake in Verizon Wireless and fetched more than $130 billion in proceeds, a move that boosted its balance sheet and continues to power its strategic acquisitions.
