The UK’s major mobile phone service providers namely, Vodafone, O2, Orange and T-Mobile are to offer their customers, near field communications (NFC) technology for making small payments by just swiping the device over a specially developed senosrs located at stores and other places.
Google have already been testing a similar system in the US, this is early days for this technology. However, it seems that this is going to be rolled out as soon as it is ready.
These are the major points for the new mobile payment system from Everything Everywhere;
Creation of a single ecosystem for m-commerce helping advertisers, retailers and banks to reach consumers through their mobile phones
Consumers will be able to replace their physical wallet with a secure mobile wallet using Near Field Communications (NFC) technology to pay for goods and services
Consumers will also benefit from relevant offers and coupons, delivered direct to their phone
Everything Everywhere, Telefónica UK and Vodafone UK to provide start-up investment
Source [Geeky Gadgets]