09 October 2015

UK telcos launch mobile payments system

03 September 2007  |  12076 views  |  0 mobile keypad

The UK's major mobile phone operators - Orange, Vodafone, T-Mobile, 3 and O2 - have launched a payment system that allows subscribers to use their handsets to pay for low value purchases.

Users of the new PayForIt system can make one-off payments or set up subscriptions with a value of up to £10 for goods and services such as ringtones, train tickets and parking fees using Web-enabled handsets.

Money spent via PayForIt is automatically added to the customer's mobile phone bill, so users don't need a credit card or bank account.

Customers signed up to the service will be presented with a standard Payforit screen every time they make a transaction, which includes information on the content/service being purchased, the merchant it is being bought from and how much it will cost. Users then authorise payment by pressing 'pay now' or 'subscribe'. A payment request then goes directly to the mobile operator for validation.

The scheme has been set up by the telcos to provide a standardised payment system to customers - no matter what mobile operator a customer is signed up to or which handset they use.

The network operators have recruited a number of payment intermediaries, including mBlox and Verisign, to manage the billing requests and to present the on-screen payment pages to customers.

Firms including Electronic Arts, Multimap, Samsung and Sony Ericsson have already signed up to the m-payments scheme.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

30 August, 2007
09 July, 2007
04 July, 2007
29 June, 2007
22 May, 2007
26 April, 2006
27 June, 2005

Related company news


Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
6263 views comments | 33 tweets | 35 linkedin
Faster Payments eases access for challenge...
4883 views comments | 20 tweets | 25 linkedin
Retail security bashing lobby group ABA ad...
4513 views comments | 17 tweets | 8 linkedin
Chinese hackers breach LoopPay
4343 views comments | 8 tweets | 6 linkedin
From biometrics to one-time passcodes, Mas...
4278 views comments | 12 tweets | 18 linkedin

Featured job

to $120K base + bonus
New York City, NY (USA)

Find your next job