Smartphone data could be the new airmiles if O2 Banking has its way

With interest rates still dire, carrier Telefonica is reportedly hoping the lure of free smartphone data will tempt subscribers to bank with them instead. O2 Germany, the company's German arm, is apparently preparing to launch a service called "O2 Banking"; according to Bloomberg's sources, next week subscribers will not only have the option of relying on the network for their connectivity, but for their financial needs too.