Technical Help & Discussion > Mobile Phones & Other Handheld Devices
Big four networks team up for mobile payments
Simon:
T-Mobile, Orange, O2, and Vodafone have teamed up on mobile payments and advertising.
The operators have created a standalone joint venture to develop a single system for mobile payments as well as advertising, letting retailers go through a single company to reach the firms' customers, regardless of the device they're using.
The joint venture will come up with the standards, technology and interfaces to run mobile payments, as well as create a centralised sales division to work with retailers and advertisers.
The system won't actually process payments, but will provide the necessary platform to banks and retailers to let consumers shop with their phones.
"This venture is not taking a banking licence," explained Ronan Dunne, CEO of O2-owner Telefonica. "It will be enabling the payments systems that work today. Any bank can enable its physical products to be virtualised onto mobile wallets, rather than have to do it individually to all the operators."
Read more: http://www.pcpro.co.uk/news/368119/big-four-networks-team-up-for-mobile-payments
Rik:
I don't trust mobile payments.
Simon:
We didn't trust online banking at first. ;)
Rik:
I did, way back in 1986. OTOH, I see this system far more prone to abuse.
Simon:
1986?? :o
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