EU Approves Telecoms' Mobile Payments Plan For The U.K.

Project Oscar, the brainchild of the U.K.'s three major mobile operators, now has the EU's blessings to forge ahead.

The project is being developed by Everything Everywhere, Telefonica, and Vodaphone and hopes to let U.K. residents tuck away their wallets and pay with a swipe of their mobile phone instead. In its first phase, Project Oscar will serve as an advertising channel, allowing brands to direct ads customers, the companies announced in a press release.

Individually, EE and the rest have been seeking out partnerships with credit card companies for mobile payments, the most recently announced of those was EE's collaboration with MasterCard to plan mobile payments—again, in the U.K. This solid group effort from mobile service providers puts up some stiff competition for folks like Google and its Wallet, and altogether indicates a big boost for mobile payments outside the U.S.

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