The four largest mobile network operators in Sweden have formed a joint venture to promote an NFC mobile wallet in that country. The new JV, called WyWallet, is being formed by Telia, Tele2, Telenor and 3, and will cover 97 percent of mobile subscribers in Sweden.

The new service will offer person-to-person fund transfers, online shopping and mobile top-up to start, but payments at brick-and-mortar locations will begin testing in July. Additional services will be rolled out over time.

WyWallet will be available immediately for mobile devices running Android, iOS and Java. Windows Phone devices will be supported soon.

Swedish mobile financial company Accumulate has been a part of WyWallet's development and is behind the mobile technology and security for the product.

For more stories like this, visit the digital/mobile wallet research center.