Bloomberg is reporting that the U.K. mobile payment partnership is facing increased scrutiny from EU regulators.

The joint venture by wireless carriers Vodafone Group Plc, O2 and Everything Everywhere Ltd. had faced delays in even getting papers filed with regulators, finally submitting their application last month. Now, according to the story, regulators are extending the deadline to rule on the JV amidst concerns that competitors will have a lock on the mobile payment wallet in the U.K. 

When the three companies announced plans to create a mobile wallet for the U.K. market last year, they were following the path of JVs like Isis in the U.S., where competing carriers are trying to establish standardized NFC payment methods. The intention was to have a product in place for the London Olympic games in August. But almost immediately, the U.K. effort was challenged by smaller rival Three as being anti-competitive. It looks like the E.U. may agree with that argument.

“We need to make sure that competing services can keep emerging on this market, so that incentives to innovate remain and customers get the best mobile commerce services at the best cost,” EU Competition Commission Joaquin Almunia said in the post.

Three said it is "pleased" the EU is looking into JV's "effect on consumers and the future development of mobile payments."

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