Weve, the joint venture between the U.K.'s three largest mobile network operators, is partnering with MasterCard to create a platform for contactless mobile payments in the U.K.

The joint venture shareholders, EE, Telefonica U.K. (O2) and Vodafone U.K., represent more than 80 percent of the U.K.'s mobile customesr, Weve said. The JV was formed to enable the development of mobile marketing and wallet services in the U.K.

Under the terms of their agreement, MasterCard will provide technology and integration services to banks and financial institutions that want to use the Weve payments platform for offering contactless mobile payments.

MasterCard will ease the development of mass-market contactless mobile payments by financial institutions, while protecting contactless mobile payments with the same fraud protection as conventional MasterCard payments, Weve said in a statement.

Weve and MasterCard said they know U.K. banks don't want to be invisible partners when it comes to payments. They want to be a visible part of the process, engaging with customers at the point of purchase, the two organizations said. "Weve's service and platform gives them a way to do just that, reinforcing customer relationships while helping them to maximize the value of the payment products they use," according to a press release.

"By removing technical barriers, MasterCard and Weve are enabling banks to focus on engaging with their mobile customers at the point of sale," Weve CEO David Sear said in a statement.

Read more about card brands, carriers/operators and contactless/NFC.