The European Commission approved a mobile wallet joint venture called Project Oscar. The project, let by Everything Everywhere, O2 and Vodafone, will enable consumers to pay for goods through contactless payment with their NFC-enabled mobile phones.

Simon Robinson writes in The Guardian that mobile wallets could help to end “voucher stigma” that comes from carrying around coupons and trying–not always successfully–to redeem them. Mobile vouchers allow a consumer to bypass the need for paper coupons.

The advance of mobile payments also means that consumer permission has gained a greater sense of importance. With businesses being able to target customers based on their physical proximity to the shop, without getting permission for marketing-based text messages and e-mails, a business can quickly wear out its welcome in the consumer eye.

That said, retailer incentives and the ability to easily mine customer data may help propel adoption of NFC payment technology at the business level. Other capabilities of mobile wallets, such as the ability to add loyalty programs without needing to carry a separate plastic card, can also help drive acceptance of mobile wallets in the marketplace.

Read more here.