EC Approves Project Oscar NFC Mobile Wallet Venture

The European Commission (EC) has “unconditionally approved” Project Oscar, the mobile wallet joint-venture (JV) between Vodafone, Telefonica UK and Everything Everywhere following a preliminary investigation.

The Commission is satisfied that Project Oscar is not anti-competitive and has paved the way for it to be launched as early as this year. Its investigation, which began in April, found that a number of alternatives already exist and more are likely to emerge in the near future, so it is not likely to create a monopoly.

“The Commission concluded that the joint venture will not likely lead to a significant impediment to effective competition in the EEA within the meaning of the Merger Regulation,” said the Commission announcing its decision.

Project Oscar

The partners have welcomed the decision and stated their intent to get the venture up and running as soon as possible, giving it a head start over the US-only Google wallet and the rumoured Apple iWallet NFC contactless payment system.

“In mobile payments, the JV will benefit businesses and consumers by accelerating the deployment of mobile wallets and associated services in a secure way,” the partners said in a statement. “Through the solution offered by the JV, businesses will be able to connect once in order to offer a wide variety of mobile wallet services – including payment and loyalty cards – to millions of consumers on the majority of handsets, operating systems and mobile operators.

“It will give consumers a simple and secure shopping experience, allowing them to purchase goods and services using their handsets in physical locations such as shops, using contactless technology, as well as online.”

The Project Oscar partners also reiterated their commitment to make the joint-venture open to any operator, MVNO, third party publisher, bank, ad agency or retailer.

“The partners in the JV believe it has an important role to play in helping to keep the UK at the forefront of digital innovation, creating jobs, promoting innovation and stimulating competition,” they said.

How much do you know about smartphones? Take our quiz

Steve McCaskill

Steve McCaskill is editor of TechWeekEurope and ChannelBiz. He joined as a reporter in 2011 and covers all areas of IT, with a particular interest in telecommunications, mobile and networking, along with sports technology.

Recent Posts

Apple, Google Mobile Ecosystems Should Be Investigated, CMA Told

CMA receives 'provisional recommendation' from independent inquiry that Apple,Google mobile ecosystem needs investigation

5 hours ago

Australia Rejects Elon Musk Claim About Social Media Ban For Under-16s

Government minister flatly rejects Elon Musk's “unsurprising” allegation that Australian government seeks control of Internet…

8 hours ago

Northvolt Files For Bankruptcy Protection In US

Northvolt files for Chapter 11 bankruptcy protection in the United States, and CEO and co-founder…

10 hours ago

UK’s CMA Readies Cloud Sector “Behavioural” Remedies – Report

Targetting AWS, Microsoft? British competition regulator soon to announce “behavioural” remedies for cloud sector

1 day ago

Former Policy Boss At X, Nick Pickles, Joins Sam Altman Venture

Move to Elon Musk rival. Former senior executive at X joins Sam Altman's venture formerly…

1 day ago

Bitcoin Rises Above $96,000 Amid Trump Optimism

Bitcoin price rises towards $100,000, amid investor optimism of friendlier US regulatory landscape under Donald…

1 day ago