Enabling Technologies

EE, Vodafone and O2's Joint Venture Weve, Partnership with MasterCard

Weve, the mobile marketing and wallet joint venture between EE, Vodafone and O2, has partnered with MasterCard to drive the adoption of contactless technology in the UK. The collaboration was uncovered on 6th February 2014, and seeks to provide users with a safe, fast and convenient method of making payments for purchases via smartphone.

Mastercard is building a payments system that links bank cards to the SIM cards installed in every smartphone. For example, Barclays users would be able to link their card to their phone utilizing the Barclays app. Thereafter the mobile can make payments at places with contactless readers already used for credit and debit cards.

"Mobile payments are the thing that everybody's talked about but nobody's managed to do. It's been a mess. We bring scale and people with mobile devices. Mastercard is doing the same for bank customers – one infrastructure provided by Mastercard talking to one infrastructure provided by us," said David Sear, CEO of Weve. “Contactless payments have already been embraced by UK consumers and retailers, with the UK the most advanced market for adoption of contactless cards with around 300,000 retail outlets now accepting payments in this way. With MasterCard, we want mobile to reach the tapping point,” he added.

Weve recently rolled out its first display mobile ad targeting service. They signed up six beta test partners including Tesco. The platform has a 22 million-strong opt-in customer base of the three major mobile network operators. O2, Vodafone and EE have a combined market share of 80% in the UK.

Last year, Weve partnered with The Logic Group to deliver loyalty and couponing via mobile:

Recently Zapp, a British mobile payments startup partnered with 5 major banks - First Direct, HSBC, Nationwide, Metro Bank and Santander - to offer its services directly to consumers without the involvement of any carriers. Zapp is a mobile payments startup formed by payments infrastructure operator VocaLink. Merchant acquirers Optimal Payments, WorldPay, Sage Pay and Realex have already signed up for the service. These four processors’ customer base combined, includes 60% of UK merchants.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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