Britain's biggest mobile phone operator Everything Everywhere is set to launch a new "wave-and-pay" service that will allow people to pay with mobiles rather than cards.
The operator of both Orange and T-Mobile, Everything Everywhere has signed a deal with MasterCard to launch the scheme after previous attempts to get a "mobile wallet" service running have failed.
Initially, customers with the operator will be able to use their mobile phones to make payments at around 100,000 retailers around Britain.
However, this will soon expand to allow customers to send money to each other.
Earlier this year, Barclaycard introduced its contactless PayTag scheme, which allows people to make payments with the use of a sticker on their mobile phones.
"Our vision is of a world beyond cash and the phone is a key tool to driving this step-change. I believe that people will use their mobile phones in lieu of a traditional wallet," president of MasterCard UK & Ireland Marion King remarked.
Posted by Peter Robinson