O2, Vodafone and Everything Everywhere representatives to set up a new company to provide retailers with single point of contact for mobile wallet services
The EU has approved a joint venture (JV) by Everything Everywhere, O2 and Vodafone to implement its m-commerce model to increase the uptake of wallet services and mobile marketing.
Dubbed ‘project Oscar’ the JV was initially being investigated due to complaints from other providers, but now it has received approval the firms will start the hiring process and creation of a new company to oversee the venture.
Although each operator’s offering in the sector will remain separate, the JV aims to create a single m-commerce model where retailers can connect to the service once and then accept payments from any service provider, making m-commerce – according to the networks – more secure.
It will also create one point of contact for retailers and advertisers looking to take advantage of targeted marketing to mobile users who have opted into the service.
A joint statement from the JV partners said: “The shareholders remain committed to making the JV services open to all, including all operators and MVNOs, thirdparty publishers, banks, advertising agencies, retailers and any company that wants to engage in this space. The partners in the JV believe it has an important role to play in helping to keep the UK at the forefront of digital innovation, creating jobs, promoting innovation and stimulating competition.”