Google has been operating its Wallet service in the US for a while. Google Wallet is a swipe and pay using your mobile phone payment service. Google reportedly has plans to launch the service in Europe in the coming months. It appears that a European Commission probe into a rival service that is being prepared by a conglomerate of European mobile phone carriers, including Vodafone, O2, and Everything Everywhere is underway.
The rival service has been hit with an EU probe thanks in part to the strong objections from Google and Three. Three wasn't offered an invite to the mobile payment party, and it feels that an agreement between the other carriers is like a joint-selling agreement. The companies hoped to have Project Oscar operating in time for the Olympics.
The three carriers had hoped that the expected increase in mobile and online ads running during the Olympics would help bring attention to their platform. There is no indication of how long the probe will last, but it's clear that some expect Google to be a launch before Oscar gets the green light.