Plans for a joint venture between Vodafone, Telefonica and Everything Everywhere designed to accelerate the growth of mobile payments and advertising in Europe could be submitted for regulatory approval within the next two weeks.
According to The Telegraph, the telecom giants are expected to file with the European Commission by March 5, to gain approval for a project now being called “Project Oscar.”
The European effort closely mirrors a joint venture created by three U.S. mobile service providers — AT&T Mobility, T-Mobile USA, and Verizon Wireless — with similar goals. Called ISIS, the combined effort has “united to build a nationwide mobile commerce network utilizing smartphone and near-field communication (NFC) technology,” its website explains.
Once the companies behind Project Oscar file, the EC must respond within six weeks; however, even if the initiative is approved immediately thereafter, another two months would be needed to prepare for a full roll-out, The Telegraph writes.
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