Sybase 365 will help Telefonica Digital with its soon-to-be-released digital wallet. The company, a subsidiary of Sybase Inc., said it has entered into a global, strategic partnership with Telefonica to help develop Telefonica's mWallet.

The mWallet Sybase 365 will collaborate on will be a virtual wallet offering access to a range of services from stored value accounts to peer-to-peer (P2P) transfers, the announcement said. Additionally, the wallet will support NFC technologies as they become more widespread.

"The mobile wallet lies at the heart of our financial services strategy and it is crucial that we deliver a strong, simple and secure user experience to our customers," said Joaquin Mata, Head of Financial Services at Telefonica Digital.

Mata said Sybase 365's expertise will be a key element in helping Telefonica bring the best customer experience to market.

Sybase 365 said this latest partnership is the latest development for Telefonica as it builds its global capabilities in the mobile financial services space.

"With the ongoing convergence of technology and agreement amongst key players in the ecosystem, mobile commerce services are a fast developing global phenomenon," said Matthew Talbot, senior vice president of mCommerce for Sybase 365.

"This is a great example of how mobile operators, financial institutions, enterprises and merchants collaborating with innovative technology built with the needs of the end customer in mind can extend mobile financial services to millions around the world," Talbot said.

Telefonica expects to see the first commercial wallet services launching in Latin America and in Europe during the first half of 2012.

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