The joint venture, which the consortium has initially dubbed JV, will provide a single contact for advertisers, marketing partners, retailers and banks.
The three operators, each of which owns a one-third equity stake in the venture, claim it will speed the adoption of mobile payments, enabling consumers to transfer their physical wallet into a new secure, SIM-based wallet regardless of which NFC-enabled device or mobile network they are using.
The venture will also allow brands to book ad space and create campaigns; as well as offer consumers coupons and virtual loyalty cards that can be stored on their devices and used in-store.
However, the mobile alliance is notable for the absence of Three UK, and the latter's chief executive Kevin Russell expressed frustration at his firm's exclusion.
"Directionally, this is a good move on taking m-commerce forward," Russell said. "As the leader in the adoption of mobile internet services in the UK we would want and expect to be at the heart of a cross-industry development like this and are more than a little concerned that – as a core competitor – we have been excluded from this joint venture.
"The crucial test of the openness of this initiative will be our ability to launch services for all UK mobile consumers simultaneously."
However, the consortium argued that it would welcome smaller operators to become customers of the platform. "[There are] opportunities for other players whether it's Three, to buy the services of this entity," said Tom Alexander, Everything Everywhere's chief executive. "We'll all be customers of this venture and anyone can be a customer."
Meanwhile Ronan Dunne, Telefonica UK's chief executive, said that Three's Russell was made aware of the project before launch, adding: "We didn't explicitly exclude Three in the same way that we didn't explicitly exclude Facebook or Google."
The joint venture is subject to competition approval, which the consortium said it was confident it would get, and is intended to launch by the year-end.
Alexander added: "This groundbreaking new business will unlock the true potential of commerce in the wire-free world.
"The benefits will be felt across the whole industry, allowing people to manage their money and make payments using their handsets, helping advertisers reach their customers on the move, and helping banks provide their clients with an easy and convenient way of making payments."
Dunne pointed out that the mobile marketing and payments market is "extremely fragmented".
He said: "By creating this new business we will underpin this nascent market, providing real size and scale, allowing consumers to benefit from new and innovative services, like the mobile wallet, and giving them more of the things they value, through offers and deals that are truly relevant to them."
He said that the joint venture would not be exclusive to the UK, but would "create a model that many countries around the world could follow".
Guy Laurence, chief executive of Vodafone UK, suggested that as well as becoming a means of paying for goods and services, mobile technology might soon replace house keys. "Currently people take their mobile, wallet and keys when they leave home," he said.
"In the near future, people will now start leaving their wallet at home, and in the mid-term their keys may also be integrated into their mobile as NFC allows the mobile to act as a digital access card. The joint venture is the next phase in realising that ambition."
Everything Everywhere, O2 owner Telefonica UK and Vodafone UK will continue to develop competing products and services that will be hosted on the open platform.
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