Dutch Deal Paves Way for Mobile Payments in 2012

by Mercator Advisory Group 0

Dutch banks and mobile operators are coming together to set up a joint venture to offer NFC mobile payment services in 2012. For a long time the dispute between banks and mobile operators trying to own customer relationships and to control revenue splits has been attributed to one of the main reason for delayed NFC deployments worldwide. Many have called for cooperation between banks and mobile operators to make NFC mobile payments a reality. This Dutch deal is said to be the first real action in Europe in that regard.

The Netherlands’s three largest banks and the three largest mobile phone operators in the country said they had signed a letter of intent to let people pay for goods and services nationwide with their phones.

By 2012, people will be able to hold their phones against a point-of-sale terminal in shops and pay using ultra-short distance wireless communications and secure data stored inside the phone, the six groups said in a joint statement.

Read article here:

http://www.reuters.com/article/idUSLDE6880OC20100909