Core Telecom can confirm the announcement that three of the UK’s top mobile operators are to create a new partnership which will allow users to access mobile payment services, while also offering highly targetted mobile advertising.
The new deal is the first of it’s kind the UK and will see O2, Vodafone and Everything Everywhere deliver targetted advertising to customers, but also create payment services similar to a mobile wallet.
As mobile phone companies will have access to far more information on their customers than any advertising agency, they will be able to offer service is on a different level to any similar mobile advertising service in operation.
The mobile wallet feature will provide the facility for users to be able to transfer funds online their mobile phone and allow them to either purchase products online or use Near Field Communications (NFC), which is brand new technology included in new smart phones.
Earlier this year O2 applied to the Financial Services Authority for a licence that will allow them to introduce wireless payment systems without the need to partner with a bank. Customers would be able to transfer money to other people and make contactless payments. Earlier this year, Orange partnered with Barclaycard to offer a similar service.
The partnership is currently under review from the relevant authorities, but if approved is expected to launch by the end of the year.