Who needs competition anyway? Canada’s three wireless service providers have joined together for a new venture. Wireless Payment Services, which will be jointly owned by Rogers Wireless, Bell Mobility and Telus Mobility, will attempt to commercialize a mobile commerce service within the next year.

According to Jeff Chorlton, the president of the new company, “the company’s mandate is to develop standardized, secure and easy-to-use mobile payment capabilities that work with existing debit and credit systems offered by Canada’s financial institutions and across all national Canadian wireless carriers.”