Mobile network operator O2 is to cease operating its O2 Wallet service in the UK on 31 March. Launched in April 2012, the service included a range of money transfer, mobile shopping and offers services plus transaction tracking and a companion Visa contactless card — and was originally expected to expand to include NFC support in the future.

"When we launched the O2 Wallet 18 months ago we were one of the first mobile wallets around," the carrier says in a statement on its website. "Since then lots has changed for us, the market and our customers. So, we've decided to close the O2 Wallet to give us time to look into new and better ways to help people manage their money on the move, both in the UK and abroad.

"It's been an exciting journey, so thanks for joining us. And it's not over yet — we'll let you know about any new innovations in the future.

"After the 31st of March you won't be able to use your O2 Wallet or O2 Money Account Card anymore — that includes sending or receiving Money Messages, using the O2 Wallet or card to shop, buy train tickets in the app or top up your mobile."