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Orange, O2, Vodafone and T-Mobile announce joint venture to develop payment technology for handsets

Vodafone, O2, Orange and T-Mobile announced plans on Thursday for a joint venture that would allow shoppers to pay for goods and services with their phones rather than cash or cards.

Vodafone, O2 and Everything Everywhere said the service would be open to all retailers, banks, ticketing companies, advertisers and other mobile companies, including 3, Tesco and Virgin Mobile.