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BizReport : Mobile Marketing : June 17, 2011

UK's leading mobile networks form m-commerce joint venture

The UK's leading mobile networks have announced they are teaming up to create a venture company that will provide mobile wallet technology that will "unlock the true potential of commerce in the wire-free world".

by Helen Leggatt

Everything Everywhere, Vodafone UK and Telefónica UK are planning to launch a standalone m-commerce joint venture before the end of this year that will offer the technology needed for the speedy adoption of mobile wallet and payments.

"This groundbreaking new business will unlock the true potential of commerce in the wire-free world," said Tom Alexander, CEO of Everything Everywhere. "The benefits will be felt across the whole industry, allowing people to manage their money and make payments using their handsets, helping advertisers reach their customers on the move and helping banks provide their clients with an easy and convenient way of making payments."

One mobile network isn't too happy about the venture. Three is the smallest of the UK mobile networks with around 7 million subscribers but was excluded from the venture.

Kevin Russell, CEO of Three, says that while the venture is a move in the right direction to take m-commerce forward he was "more than a little concerned that - as a core competitor - we have been excluded from this joint venture", reports MarketingWeek.

According to research firm Strategy Analytics, the joint venture is a positive move and will enable these mobile operators to "secure a position at the heart of the nascent NFC contactless payments ecosystem".

Tags: mobile payments, mobile wallet, NFC, UK

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