French telecom operators and IT services company Atos Origin (ATO.FR) Thursday announced the launch of a new electronic payment platform called Buyster, which will allow them to compete with eBay Inc.'s (EBAY) PayPal in France.

In a joint statement, France Telecom (FTE), Vivendi SA's (VIV.FR) SFR, Bouygues SA's (EN.FR) telecom unit and Atos Origin said the new system, which allows for payments via the internet and mobile phones, will be available in France from mid-2011.

The three telecom operators will offer the payment service to their mobile clients, thus potentially reaching over 50 million consumers. It will also be sold to e-commerce businesses in partnership with Atos Worldline, a unit of Atos Origin.

The jointly formed company is currently awaiting for approval to be recognized as an official payment company by the Bank of France, the companies said.

-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1754; ruth.bender@dowjones.com