Joint Venture to Launch NFC-based M-Wallet Disbanded

The Joint Venture between Dutch banks and mobile operators has disbanded. Banks Rabobank, ABN Amro and ING along with KPN and Vodafone have announced that their joint venture focused on developing their NFC-based m-wallet service will stop any further development.

The joint venture was first announced by the mobile operators and banks in September 2010. T-Mobile, who was part of the initial plans, left in December 2011 to develop their on m-wallet service.

The launch date was initially set for this year but was pushed to 2013, “It was far more complex then we originally thought it would be,” Rabobank’s Wim Westerhof told NFC World. The blame has been cast on a number of problems, such as the legal and competitive issues surrounding the joint venture, and it was being too hard to implement proving “too costly and taking too long”.

“Bringing together a project like this is very complicated.” Westerhof told NFC World.

Picture: NFC Forum

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