The 'standardized mobile contactless payment platform,' which has been launched by UK telecom giants Everything Everywhere, O2 and Vodafone to speed up the acceptance of NFC (Near Field Communication) technology throughout the UK market, could also prove to be vital for location based campaigns, according to a new report.
The joint venture by the three UK telecom heavyweights was announced last week. During that time, the companies revealed that the primary focus of their partnership, a rarity in the competitive telecom industry, was to provide a single and unique platform for retailers, advertisers, media agencies as well as for banks, so that they could implement mobile commerce services far more effectively.
In addition to easing the transition to NFC mobile payments, this could also create a better platform for telecoms to launch location based campaigns.
“For brands, it aims to provide a single point of contact to book advertising space, create offers, coupons, transport and event tickets and loyalty cards to be stored on consumers’ smartphones and redeemed in shops,” said Lara O'Reilly of the MarketingWeek.
NFC is expected to be a common payment method, partially supplanting both cash and credit cards, in the near future.