BRUSSELS, Sept 5 European Union antitrust
regulators cleared on Wednesday a scheme by British mobile
operators Vodafone, O2 and Everything Everywhere to set
up a joint venture allowing users to make payments and purchases
via their phones.
Vodafone, Telefonica's 02 and Everything Everywhere
, owned by France Telecom and Deutsche
Telekom, want to compete with mobile payment services
from Google, Apple and Facebook.
The mobile wallet scheme lets consumers use their mobile
phones for transactions, instead of having to use cash or cards.
The system can also be used by retailers, banks and advertisers.
The European Commission did not set any conditions for
approving the joint venture.
"As a result of its in-depth investigation, the Commission
concluded that the joint venture will not likely lead to a
significant impediment to effective competition in the European
Economic Area," the EU antitrust watchdog said in a statement.