6 November 2008
It will soon be common for consumers to use their mobile phones to manage their money, a spokesperson for UK Web Media has suggested. According to mobile phone specialist Thomas Newton, mobile banking is likely to take off over the coming months as high street banks offer new services. Using mobile phones as a method of payment could also become more common, he claimed, referring to the scheme being trialled in London that allows commuters to pay for their Tube journeys by using their handsets like a barcode. "It looks as though banking and making purchases on your mobile is something we could get used to seeing in the near future," he remarked. His comments come after HSBC launched a new mobile phone banking service for BlackBerry users. The bank said customers can check their online bank accounts from their handsets for free at any time of day.