Mobile payments 'will revolutionise the way we pay'
It is only a matter of time before mobile payments revolutionise the way we pay, according to the council.
Mobile payments 'will revolutionise the way we pay'”
The organisation that sets strategy for UK payments suggested that there have already been a number of trials involving contactless debit and credit cards combined with mobile devices.
Jemma Smith, head of PR at the Payments Council, said that at some point in the future mobiles will be linked to card and bank accounts so that customers are able to carry out all types of transaction.
The establishment of cross-industry standards in mobile payments is likely to create the conditions for widespread use of mobile payments, she continued.
Ms Smith explained: "A major challenge is to exploit the technological and convenience opportunities whilst ensuring phone payments are safe and secure. For this reason, as part of its National Payments Plan, the Payments Council is currently investigating the development of a collaborative mobile payments service."
The comments follow a speech last week by Viviane Reding, EU commissioner for telecoms and media, in which she suggested the EU should clear the way for safe and consumer-friendly mobile payments.
Written by Sarah Wilkins ©
