Firms To Collaborate In Mobile Wallet Joint Venture And Reap The Benefits

The three largest mobile operators in Germany are Telefónica O2, Deutsche Telekom and Vodafone and the firms plan to form a joint venture mobile payments company called Mpass. The new company could be operational before YE11 after the three operators signed a memorandum of understanding. The move follows the creation of similar collaborative arrangements in other developed markets as operators aim to counter attempts by phone manufacturers to capture the mobile payments market.

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