The ability to send mobile payments using just a mobile phone number should be open to everyone, according to the Payments Council’s latest mobile payments project update.
The Payments Council is building a central database that will allow customers to link their mobile phone number to their account details, regardless of who they bank with. It will be available to UK banks and building societies before the end of this year as a platform for them to build their own competitive service for their customers. VocaLink has been appointed to build the central database.
Customers will register for the service through their own bank, with no need to share their details with a third party. The database will enable registered customers to make or receive almost-instantaneous payments from their existing account, using just a mobile phone number. It will be safe, secure and simple to use.
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