UK JV says it is in discussions with 17 of the top 20 UK high street retailers about the roll-out.
Simply Tap will enable consumers with any phone on any mobile network and with any bank to buy anything from the retailers signed up to the service.
Consumers will go through a one-off registration process that captures personal details, such as debit or credit card numbers and preferred delivery address.
After registering, when a consumer sees a product they want in store, online or in any advert, they type the product code into the Simply Tap app or send it via SMS to pay via the saved details.
The Mobile Money Network is a joint venture between Monitise, Best Buy Europe and Carphone Warehouse founder Charles Dunstone.
It's been prepping this project for four months, and will reveal details at a gathering of the UK’s biggest retailers, banks and media companies tomorrow.
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The JV has appointed ex Marks and Spencer chair Sir Stuart Rose as non-executive chairman and Lord Davies of Abersoch as a non-executive director.
Rose said: “I am incredibly excited to be involved in the Mobile Money Network. It is a fresh concept set to act as a catalyst for three major industries – retail, banking and marketing.
"At a time when consumers are short of time but demanding instant gratification, this proposition delivers. The potential is huge and I look forward to the journey.”
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