16 April 2014

Dutch banks and telcos push NFC m-payments back to 2013

02 December 2011  |  7034 views  |  1 iphone apps on screen

Dutch banks and telcos have firmed up their commitment to introduce contactless mobile payments but expect to introduce services in 2013, later than initially planned.

A consortium comprising ABN Amro, ING, KPN, Rabobank, T-Mobile and Vodafone inked a letter of intent in September 2010 to form a joint venture creating a single uniform system for mobile transactions in the Netherlands by Q4 2012.

However, the players have pushed back their expected launch date by Q1 2013 because they still need to go to the European Commission within the next few weeks to get competition law clearance, which could come early next year.

Meanwhile, T-Mobile has pulled out of the group, stressing its belief in mobile payments but wanting to decide at a "later stage" how to approach the issue. The remaining members insist that their service will be open to all banks, mobile operators and other companies that want to use it.

Comments: (1)

A Finextra member | 05 December, 2011, 12:56

Dear Sirs,

I thought that the European competition legislation does not since 2002 allow for advance clearance of cooperation between competitors. One would have to understand what is allowed and what is prohibited in one´s own capacity. And that this is a major hurdle in cooperative efforts involving competing businesses. So is there a another competition law in force for the Dutch or is there another reason for postponing the go live date?

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related stories

16 November, 2011
26 October, 2011
12 October, 2011
13 September, 2011
18 August, 2011
24 June, 2011
09 September, 2010
10 February, 2010

Related company news

 

Related company information

ABN Amro

Featured job

£60k+ in addition to a bonus based on personal and...
Twickenham, London

Find your next job