The European Commission has given the green
light to a mobile wallet initiative to be rolled out by the UK’s
three largest mobile operators.

Vodafone, Telefónica’s O2 and Everything
Everywhere (owner of Orange and T-mobile) plan to offer mobile
payment services allowing users to make payments and purchases via
their phones.

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The mobile operators are keen to compete with
rival mobile payment services from tech firms such as Apple, Google
and Facebook.

The Commission launched an enquiry in April
into the operators m-wallet plans, dubbed Project Oscar, amid
potential competition concerns.

Joaquín Almunia, the European Commission vice
president in charge of competition policy said:  “The proposed
joint venture is one of several initiatives to develop the sector
in Europe. The Commission is keen on promoting innovation in this
area and ensuring that the markets remain open so that a number of
competing solutions can emerge without undue obstacles, to the
benefit of consumers.”

Following the announcement, Vodafone,
Telefónica and Everything Everywhere said that they will
soon start working on the launch of an integrated m-wallet platform
in the UK. It will be compatible with the majority of mobile
handsets, operating systems and operators.

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In a joint statement Vodafone, Telefónica and
Everything Everywhere said: “[The joint venture] has the potential
to transform the mobile marketing landscape in the UK. It will
remove a number of the barriers that currently inhibit growth and
create a single channel with access to millions of UK consumers at
launch.”

In early September,
Everything Everywhere announced details of a 5-year deal with
MasterCard to develop new payment solutions for mobile phones,
starting with a NFC pre-paid e-wallet.