Mobiles to become digital wallets

[gkd_uk]

The UK's big five mobile phone firms have switched on a payment system that turns handsets into digital wallets.
Called PayForIt, the scheme is designed for those buying goods and services with a value of up to £10.

The industry hopes it will be used to pay for ringtones, train tickets, parking fees and eventually as a payment system on web shops and sites.

Any cash spent via the scheme will automatically be added on to a customer's phone bill

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[maldives]

That is wonderful. Just wondering what would be next?

 

[dhscott]

I prefer the one from Barclays myself. It is essentially just an Oyster card payment system. It can only buy things up to £10 however.

I don't understand the point in that though as surely smaller shops would rather accept cash than to have to pay barclays a fee?