Operators now await approval from the European Commission over the formation of a standalone m-commerce joint venture
Everything Everywhere, O2 and Vodafone have submitted their plans to the European Commission to form a new mobile payments and advertising joint venture in the UK.
In a joint statement, the trio of companies said that if approved, the JV will benefit consumers by accelerating the deployment of mobile wallet services, including payment, coupon and ticketing services.
It will enable consumers to purchase goods and services using their smartphones in physical locations, such as shops using contactless technology, as well as online.
In mobile operators said in a joint statement: “The JV will benefit businesses which are keen to participate in mobile commerce – such as retailers, banks and advertisers – by providing them with a platform to easily deliver their services to the UK mobile population.
“The JV will also promote competition by bringing together the necessary scale to offer a credible alternative to the established online payments and advertising platforms offered by large US-based internet players.
“The shareholders are committed to making the service open to anyone interested in providing mobile commerce services – including providers of services, mobile operators and MVNOs – on terms which do not discriminate between them and the companies funding the JV.
“While we aren’t able yet to contact businesses to discuss commercial agreements with the venture, the initial reaction from high level discussions has been positive – with leading retailers, banks and advertisers welcoming the competition and innovation that the joint venture will potentially bring.”
The announced the formation of the JV last July and had hoped to launch it before the end of that year.