O2 UK has announced a new joint venture with other UK networks Vodafone and Everything Everywhere (Orange and T-Mobile) that will bring offers, deals and mobile wallet services to the UK.
The aim of the joint venture is to bring the technology needed to make payments with your mobile phone to the UK market, and sooner than previously expected. O2 say you’ll be able to pay for things online using a payment system on your phone, or even in-store using the new NFC (Near-Field Communications) technology.
With the new service offered by the 3 networks, customers will be able to “transfer their entire physical wallet onto their mobile device”, allowing for payments to be made easily without the need for a heavy wallet in your pocket.
Mobile phones with NFC technology (such as the Samsung Nexus S) will allow customers to swipe their phone over a contactless payment point in shops in order to pay for their goods. O2, Vodafone and Everything Everywhere firmly believe this is the future, and are gunning to get the service widespread in the UK as soon as possible.
O2 state that the mobile wallet system should be launched by the end of the year, and at present they are awaiting the thumbs up from relevant authorities.
With all 3 of the major UK networks on board with this scheme, we could see a whole new world of mobile payments and offers here in the UK within the next 12 months. We’re excited about it, are you?
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Via: O2 Blog