Topic: Big four networks team up for mobile payments

[Simon]

T-Mobile, Orange, O2, and Vodafone have teamed up on mobile payments and advertising.

The operators have created a standalone joint venture to develop a single system for mobile payments as well as advertising, letting retailers go through a single company to reach the firms' customers, regardless of the device they're using.

The joint venture will come up with the standards, technology and interfaces to run mobile payments, as well as create a centralised sales division to work with retailers and advertisers.

The system won't actually process payments, but will provide the necessary platform to banks and retailers to let consumers shop with their phones.

"This venture is not taking a banking licence," explained Ronan Dunne, CEO of O2-owner Telefonica. "It will be enabling the payments systems that work today. Any bank can enable its physical products to be virtualised onto mobile wallets, rather than have to do it individually to all the operators."

Read more: http://www.pcpro.co.uk/news/368119/big-four-networks-team-up-for-mobile-payments

[Rik]

I don't trust mobile payments.

[Simon]

We didn't trust online banking at first. 

[Rik]

I did, way back in 1986. OTOH, I see this system far more prone to abuse.

[Simon]

1986?? 

[Rik]

Yup. Royal Bank of Scotland over Prestel.

[Simon]

I remember using Prestel at my local library in the early 80s.  I don't think it was ever made for home use, was it?

[sam]

yeah, I don't trust mobile payments... sounds rather messy.

[Rik]

I remember using Prestel at my local library in the early 80s.  I don't think it was ever made for home use, was it?

Yes, the BBC Micro, in particular, had a dedicated adaptor (aka modem) running at 1200/75 baud.

[Simon]

Probably cost a fortune to buy and to run. 

[Rik]

It did, but it was the earliest 24/7 online service. I used to sell software on there, and when home banking became available, it was too good to miss.

[Clive]

Yes, the BBC Micro, in particular, had a dedicated adaptor (aka modem) running at 1200/75 baud.

Yes, I had the teletext version for my BBC micro.  Precursor to the internet in it's own little way.

[Rik]

It was brilliant for its day, wasn't it, Clive.

[Clive]

I loved it and used it all the time.  The stand-alone module looked very cool. 

[Rik]

I had one of those on one side, and a second processor on the other.