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Paying by Mobile Phone

Community Veteran
Posts: 18,542
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Registered: 12-08-2007

Paying by Mobile Phone

Barclays Bank is to introduce a method of transferring money from your mobile phone.  It's a convenient way of paying bills etc up to a maximum of £300 per transaction and £5000 a day.
Mobile Payment
Pingit
33 REPLIES
Community Veteran
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Registered: 30-08-2007

Re: Paying by Mobile Phone

I certainly hope it has every conceivable security measure. What happens if your phone is stolen?
Experience; is something you gain, just after you needed it most.

When faced with two choices, simply toss a coin. It works not because it settles the question for you. But because in that brief moment while the coin is in the air. You suddenly know what you are hoping for.
Steve
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Re: Paying by Mobile Phone

It will be well thought out, You will need to enter security pins etc.
Community Veteran
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Registered: 12-08-2007

Re: Paying by Mobile Phone

There is a 5 digit PIN that is needed for each transaction.  I assume it will be as secure as other PIN secured devices.
Community Veteran
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Re: Paying by Mobile Phone

I foresee keystroke capturing trojans on smartphones and the use of SIM Card emulation programs to defeat this system.
Now Zen, but a +Net residue.
Community Veteran
Posts: 7,149
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Registered: 30-08-2007

Re: Paying by Mobile Phone

Think I'll go back to trudging to my local branch and conduct my accounts over the counter...if only I could find a local branch now!!
Experience; is something you gain, just after you needed it most.

When faced with two choices, simply toss a coin. It works not because it settles the question for you. But because in that brief moment while the coin is in the air. You suddenly know what you are hoping for.
Community Veteran
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Registered: 01-08-2007

Re: Paying by Mobile Phone

Must be said while I think the idea is very cool, I've got to agree with AlaricAdair in that it won't be long until someone makes the whole thing totally insecure.
Chip and pin was supposed to be safe and secure yet its not stopped people abusing it and my OH had their card cloned and money stolen. Just last night on the BBCs rip off britain they had a lady who'd had a replacement card sent to her at a different address (done by a fraudster not the customer) and someone had rinsed it for £15k using her pin number Shocked
You have to be so careful these days and what with the other topic about twitter taking peoples contacts from their smart phones without them knowing, it won't be long until someone logs pin numbers that are used.
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 18,542
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Registered: 12-08-2007

Re: Paying by Mobile Phone

Chip and Pin is not perfect but since its introduction the amount of fraud has been considerably reduced according to the Clearing Banks' Assn.
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Re: Paying by Mobile Phone

It's referred to as a cashless society and I can see why.
Everyone is after more and more of my cash and I'm heading for a cashless bank account Cry
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pierre_pierre
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Re: Paying by Mobile Phone

I saw a small video on the TV last night of a person in a restaurant paying his bill the "Barclay" app way, quickly glanced over was the fact that the establishment also needed a Mobile with the app to accept the payment.
it was interesting that a large percentage of Kenya already use this method
anniesboy
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Re: Paying by Mobile Phone

A great diversion from the amount paid in bonus to their CE.
Community Veteran
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Re: Paying by Mobile Phone

Quote from: pierre_pierre
it was interesting that a large percentage of Kenya already use this method

As with most of Southern Africa, I came across the same in Botswana. It is more than likely that a person has a 'PAYG cell' phone than a bank account, small amounts (like dialling a soft drink machine for a can of coke) are commonplace. A Mobile phone is considered a 'must have' accessory. Furniture retailers (as a credit lead in) give mobile phones away to buyers as part of the incentive.
I've also heard than countries like Kenya now have better 2G mobile coverage than the UK, I'm in South Wales at present where mobile phone coverage is 'patchy', there are whole villages without 2G coverage. Kenya has ‘jumped’ over the wired network infrastructure (too many cable thefts).
dick:green Quote tags fixed.
Community Veteran
Posts: 18,542
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Registered: 12-08-2007

Re: Paying by Mobile Phone

An interesting discussion on TV last night on Pingit.  Both people involved had vested interests representing Barclays and Paypal.  They both said that developments such as Pingit will lead to a cashless society within 5 years.
alanb
Grafter
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Registered: 24-05-2007

Re: Paying by Mobile Phone

I don't suffer from Nomophobia and I'm more than happy to leave my mobile at home for the day if I think I won't use it. I would resent having to carry a phone (or plastic cards) all the time just in case I felt like buying a bag of crisps or a coffee.
I suspect that plenty of other people would resent the disappearance of cash for a variety of reasons. Pundits have been forecasting the this for several decades. I reckon they will continue to do so for decades to come.
Community Veteran
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Registered: 12-08-2007

Re: Paying by Mobile Phone

There have been numerous attempts at creating a cashless society. The town of Caen in France trialled this in a major way some years ago and Germany has also done the same.  Here in the UK Swindon had a similar experiment. Don't know the outcome.
One company involved in the technology can be found here:
Cashless Payments