Mobiles to become digital wallets

The UK's big five mobile phone firms have switched on a payment system that turns handsets into digital wallets. The BBC reports.

"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."

emily | 3:43 PM | SMS and Banking |
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