14 DAY TRIAL // Today, three of the largest mobile phone carriers in the UK announced a standalone m-commerce joint venture (JV): Everything Everywhere, Telefónica UK and Vodafone UK. This is the first entity of the kind to be formed in the UK, and should result in the fast development and delivery of new mobile marketing and payments services.
The new joint-venture will be aimed at providing a single contact for advertisers, marketing partners, retailers and banks, so that they might be able to come up with m-commerce products and services much easier than before.
Moreover, the company announced that the new joint-venture would be open and available to other industry participants as well, so that customers could benefit the most from it.
The joint-venture has to receive the necessary approvals, and is expected to be launched before the end of the year.
“The JV will deliver the technology required for the speedy adoption of mobile wallet and payments,” the trio announced.
“This will enable consumers to transfer their entire physical wallet into a new secure, SIM-based wallet regardless of which NFC enabled mobile device, or mobile network they are using.”
Through this entity, companies will be able to offer credit, debit and loyalty cards, as well as membership cards and transport tickets, so that a mobile version of products is made available for users.
Users will have the possibility to pay for various goods, services and travel using their mobile phones, through the contactless Near Field Communications technology (NFC). Payments will be available online via mobile or PC as well.
The new joint venture is also set to create a single contact point for advertisers, media agencies and retailers who are interested in reaching consumers on their mobile phones.
Advertising space will be available for them through the new Joint venture. Moreover, they will also be able to create campaigns for users, as well as to provide offers, coupons and loyalty cards that can be easily stored on a mobile phone.
Through the new entity, users will receive discounts and offers from various bands that are relevant to them.
“Everything Everywhere, Telefónica UK and Vodafone UK will continue to develop their own competing products and services tailored to their own customers, which will be based on the open platform infrastructure provided by the JV,” the trio stated.
Tom Alexander, CEO of Everything Everywhere, commented, “This groundbreaking new business will unlock the true potential of commerce in the wire-free world.”
“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.”