European Union banks and mobile operators have agreed to work together on mobile payments. Mobile industry group, the GSM Association, and the European Payments Council, have already begun trials for contactless mobile payments, with seven operators conducting mobile payment trials, and another seven tests to start soon. Reuters reports that the goal of the cooperation is to create more competition and choice in the way that people in the EU pay for things, and to reduce the cost of paying for something while travelling outside of one’s home state. Operators are said to be keen on mobile payments as a source of new revenues. The EU, meanwhile, would eventually like to see an EU standard on wireless payments agreed upon.