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Industry / United Kingdom

M-Banking Availability To Be Widespread In UK By 2013

April 2012 | Company News Alert

O2 became the first UK operator to launch its own mobile money service on April 26 2012. The service, called O2 Wallet, allows consumers to send and receive money, compare prices and shop via their mobile phones. The launch follows Barclays' Pingit application, which was launched in February. Given efforts by banks, operators and authorities to unify payments systems, will BMI believes the availability of services will be widespread by 2013, independent of banks or service providers. However, the threat of security breaches and the availability of familiar and reliable banking services may limit uptake of the service.

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