Mobiles to become digital wallets

BBCNews reports in 'Mobiles to become digital wallets' that the UK's big five mobile phone firms have now 'switched on' a payment system that turns handsets into digital wallets. Well, its been on the cards for a while...

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.

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.

Anyone paying for goods with PayForIt will see an information screen that lays out what they have bought, who it has been bought from and how much it will cost...PayForIt will appear as a payment option on sites that people can get to via their handset and soon will also appear as a way to pay on websites too, said Mr Short.

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