A new joint venture between Taiwan's wireless carriers has been approved by that nation's regulators. According to Taiwan's Central News Agency, the country's Fair Trade Commission approved the application by Taiwan's five carriers and Taiwanese payment company EasyCard Corp. to form a jointly run mobile payment platform.

The new joint venture, like similar arrangements by rival carriers in other markets, will provide a single point of access to Taiwan's mobile subscribers, offering them a payment service based on NFC technologies.

The FTC imposed some caveats on the venture, the post said. For instance, the partners are limited in how much they can invest in the JV, and they cannot bar the entry of other carriers or payment providers into the market.

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