In the UK, the 5 big mobile phone service providers have launched, PayForIt, a payment system that turns handsets into digital wallets for buying goods and services with a value of up to \u00a310 (\u20ac 15).\u00a0 It is hoped to raise trust in using the handset as a payment tool and is expected to be used to pay for ringtones, train tickets, parking fees and eventually as a payment system on web shops and sites.\u00a0 It also has a credit function for billed customers (as opposed to pay-as-you-go) because payments are automatically be added on to a customer’s phone bill.\u00a0 The scheme standardises the way phones can be used to make payments so the process is the same no matter which operator a customer has signed up for or which handset they are using.<\/p>\n
Companies such as I-play, Gameloft, EA, Multimap, SonyEricsson and Samsung have become the first to sign up and let people pay using the PayForIt system.<\/p>\n
Hopefully the banks and credit card issuers will get involved too, though security will no doubt be of increasing importance.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the UK, the 5 big mobile phone service providers have launched, PayForIt, a payment system that turns handsets into digital wallets for buying goods and services with a value of up to \u00a310 (\u20ac 15).\u00a0 It is hoped to raise trust in using the handset as a payment tool and is expected to be …
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