The big three in the UK’s telecom industry, Vodafone, O2 and Everything Everywhere has joined forces with the view of making the NFC (Near Field Communication) technology in phone available for masses.
According to the three companies, the new move is specifically aimed at providing an exclusive open platform for businesses to implement this new, ground-breaking technology.
If the proposed joint venture by these companies actually proves to be a success, it could eventually make NFC featured mobile phones far more widespread throughout the country. The three companies have also expressed their desire to see a boom in the location based services in offering.
"The benefits [of this joint venture] will be felt across the whole industry, allowing people to manage their money and make payments using their handsets, helping advertisers reach their customers on the move, and helping banks provide their clients with an easy and convenient way of making payments,” Tom Alexander, CEO of Everything Everywhere, said, TechRadar reports.
Ronan Dunne, the Chief Executive Officer of O2 parent company Telefónica UK, also expressed his optimism about the new venture by saying that it (the joint venture) could eventually turn out to be a role model for many other countries in the world when it comes to implementing the NFC technology on ground zero effectively.