>U.K. Cellphone Companies Plan Mobile Pay Venture
U.K. Cellphone Companies Plan Mobile Pay Venture
Vodafone Group PLC, Telefonica SA’s O2 and Everything Everywhere said their new venture would create a “mobile wallet,” which cellphone owners can wave in front of censors to pay for goods. It also aims to establish a central portal for advertisers to deliver discounts and loyalty offers to participating U.K. cellphones.
The venture is scheduled to launch by the end of the year, subject to antitrust approval. Its unveiling comes just seven months after the U.S.’s biggest wireless operators—AT&T Inc., Verizon Wireless and T-Mobile USA—revealed their own mobile-payment joint venture, known as Isis. Google Inc. revealed a mobile-payment service last month.