Mobile Payments in UK - 2012

Mobile Payments project by Payments Council UK has progressed towards making payments using just a mobile phone number possible for everyone.



The Payment Council is working on the database that links mobile numbers to account details. By doing this, an individual can receive and make payments on the go via Mobile phones regardless of who you Bank with.


The database will be available to UK banks and building societies before the end of 2012. Customers will register for the service through their own bank, with no need to share their details with a third party.

The final service will be safe, secure and simple to use – offering an easy way to pay a friend back for dinner, or pay a window cleaner or other tradesman.



The work to develop account-to-account mobile payments is going ahead in the context of a wider review of the landscape in mobile payment initiatives, including developments in contactless payments (also known as Near Field Communication, or NFC) and banking ‘apps’.

The Payments Council has committed to identifying a wider strategy for mobile payments by the end of 2012.

Source: http://www.paymentscouncil.org.uk

Comments

Post a Comment

Popular posts from this blog

Need to deliver on time yet get it right the first time?

· Crossing your fingers when your solution goes live? · Worried whether your testing strategy covers the complete business requirements? · Does your solution work (intuitively & functionally) the way your business users expect it to? · Worried about the impact on business processes due to new releases? Your Answer is here: http://www.nihilent.com/software_testing.html Kunal Roychoudhury
Read more

IT outsourcing by US to hit $79 billion this year

The US IT services market will return to its pre-downturn growth rate of 5% in 2010, going by the strong IT hardware demand seen in the last two quarters, Forrester Research has predicted. The $85 billion US IT services market had shrunk 5% in 2009, affecting the growth rate of the $40 billion Indian IT and outsourcing industry. “The cutbacks in tech purchases were in many cases driven by fear. Fear that the economy was headed toward a multiyear recession... and fear that firms would not be able to borrow from banks or the credit market if they needed, resulting in the drive to hoard cash and slash capital investment... As fears ease and prices rebound, the pent-up demand in those industries for IT goods and services will bounce back in 2010,” Forrester said in its report on the US IT industry last week. The strongest segment in IT services will continue to be IT consulting, which grew even in 2009 as companies struggled to cut IT costs, followed by hardware support and system integrat
Read more

Fundamo's Mobile Wallet Solution - Today's Spotlight

Image
Overview : Fundamo is a private company based out of South Africa and builds mobile financial service products primarily used by MNOs. Its deployments have focused largely on emerging markets where the MNOs have a strong distribution network and banking services are mostly serving an elite few. Its mobile wallet and financial services infrastructure provides a full-range mobile money product (see below for features). Founded in 2000 by Hannes van Rensburg, Fundamo has grown to be a respected leader in the mobile money space. Van Rensburg has prior experience working in the financial services industry which definitely bolsters Fundamo’s credibility in delivering robust financial solutions. Key Features: Fundamo’s Mobile Wallet platform enables the full range of mobile money basics, including: P2P transfers (local and international) Airtime purchases Bill payments Balance inquiries Card and PIN management Notable Clients/Partnerships: Fundamo boasts working in more th
Read more