Three French telecoms, Orange, Bouygues and SFR, yesterday announced that they are launching Buyster, a mobile payment solution, to compete with PayPal, Google, Apple and others in the French market.
While I believe there to be enormous scope for innovation in mobile payments and opportunities for new entrants to take a leadership role in the industry, I am quite dubious to this effort. The basis of this venture is clearly that these telecom giants want to leverage their combined market position to take a cut of the payments market. But, Buyster does not seem to offer anything in terms of innovative or improved features.
Although they have signed a few big-brand online retailers and may see some initial traction, I would be surprised if this partnership is around 3 years from now !
http://www.ft.com/cms/s/0/29fe9788-2fec-11e0-a7c6-00144feabdc0.html#axzz1D62AI4yo
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