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Mobile operators form contactless payment tech joint venture
17 Jun 2011

Contactless payment technology use is bound to be on the rise, as three mobile operators have announced the formation of a joint venture to develop the solution.

Vodafone, O2 and Everything Everywhere - Orange and T-Mobile - will be working together to ensure more consumers have access to technology which will allow them to use their mobile phones to access electronic money.

Consumers will be able to use their mobiles to purchase an array of different items, from drinks to tickets, by placing it close to a reader.

People will be able "put their whole life in their pocket on one device", said chief executive of Vodafone UK Guy Laurence.

"In the near future, people will start leaving their wallets at home," he predicted.

Recently, a report by Finextra revealed that Visa could roll out as many as 20 million contactless PayWave cards across the UK by the end of the year.