PayForIt, a new mobile Internet billing scheme designed to take payments for downloadable content and games is turning handsets in the UK into ‘digital wallets.’ The standardised payment service that allows people to make one-off, low-value purchases or set up a subscription service using their phone closely resembles a mobile equivalent of PayPal.
The Lancashire-based company went live on 1 September with the full support of all five major UK operators: 3, O2, Orange, T-Mobile and Vodafone. The service differentiates itself from SIM-based systems, by identifying users from their network connection, regardless of operator or handset.
The growth of premium rate SMS within the mobile industry has generated general confusion and lack of confidence in that billing system. However, the new service is trying to self-regulate mobile payment services by standardising and improving the way purchases are made over mobiles.
Barry Sharples, Joint CEO of 2ergo, the company behind Payforit said: “Payforit will provide a standard mobile payment mechanism for any content or service that consumers wish to buy using their phone, no matter what or who they are buying from, which will greatly increase consumer confidence.”
Payforit promotes a secure and smooth experience by ensuring the payment process is transparent and consistent with accredited payment intermediaries and governed by a strict set of rules to protect consumers.
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