The Payments Council has launched a new project which will work with UK banks and building societies on delivering mobile payments. Unlike many recent initiatives this project will focus on moving money between bank accounts, rather than on contactless payments. Payments Council acting CEO Gary Hocking said:
"It is still early days in this project but we want to explore how a mobile phone can help customers make a payment from one account to another. Of course security is a priority for us, and the work being done to bring this technology to life will focus on this. This industry-wide project will help deliver a way of sending money that is safe and easy for consumers."
Their initial research suggests that around a quarter of people would be likely to use a mobile payments service.
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