Payments via Mobile Numbers to Start This Month
It has been announced that consumers will be able to use mobile phone numbers to make bank payments from the 29th April.
This will mean that users will be able to pay friends, family or traders without having to ask for their bank details. Instead, they will only need to ask for their mobile number.
Those wanting to use the service will have to register to 'Payem' pronounced as 'pay em'.
The Payments Council which supervises fraud has said the system is secure.
Neil Aitken from the Payments Council said: "The only thing that people would be able to do if they got your mobile number is pay you - it will be integrated in to your existing banking app so it's password protected."
Customers of Barclays, Cumberland Building Society, HSBC, Halifax, Santander and TSB are now able to link their mobile number with their bank account. Other banks including NatWest, RSB and First Direct will join the scheme later this year.
Current levels of security will still apply and payments will not be possible without a user's passcode.
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