Eight UK banks have confirmed they will be taking part in the introduction of an industry-wide mobile payments services.
The banking industry last year commissioned VocaLink, via the Payments Council, to create a central database to allow bank customers to link their mobile phone number to their bank account, to make payments.
The new service, due to launch officially in spring 2014, will mean secure payments can be made directly to or from a customer's account just by using a mobile phone number. Customers will not have to disclose their sort code and account number.
The service will also offer the technical capacity for financial institutions to remotely disable an account.
have all so far pledged their commitment to the scheme.
Adrian Kamellard, chief executive of the Payments Council, said: "The mobile payments project is a fantastic example of the unique role the Payments Council can play in delivering far-reaching, innovative improvements for customers.
"This new service will offer a simple, secure way to split a bill for dinner, receive money from a friend or pay a tradesman without needing to remember or share account details," he said.
Will you embrace mobile payment services?
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