Monday, October 29, 2012

U.K. Mobile Operators Launche "Weve" Mobile Wallet

The United Kingdom mobile payments venture originally code named "Oscar," and operated by a consortium of U.K. mobile operators including EE, (Orange and Deutsche Telekom)Vodafone and Telefonica’s O2, have chosen the retail brand name "Weve."

Along the way, the consortium has modified its anticipated revenue model, as have others in the young market. Originally, the idea was that the consortium would provide a single network platform for all participating card issuers (banks, for example), and would take part of the transaction fee.

After a European Union investigation of potential antitrust issues, as well as stout opposition from Visa and MasterCard clearing networks, Project Oscar was refocused on mobile advertising and mobile commerce. 

Now "primarily aimed at advertisers looking to engage in mobile commerce," Weve has adopted the "mobile wallet" approach also used by Isis and Google Wallet. 

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