Network operator O2 will be providing customers with the ability to make mobile phone payments from later on this year with the launch of its ‘mobile wallet’.

Over the years consumers in the UK have become used to using a range of different payment methods to pay for purchases that they make. This includes credit cards, debit cards, cheques, and of course cash. However, this year will see some people start using a new, advanced method of payment for their purchases which could prove even more convenient for them.

From later on this year mobile network operators O2 will start providing customers with the ability to make mobile phone payments for their purchases, which means that they will no longer have to worry about taking out cards and cash. Everyday items can be paid for using the mobile payment facility, which is the ‘mobile wallet’ that will be launched by O2.

It is hoped that the payment services will be launched by the provider in the summer, and it will allow consumers to purchase products such as coffees, newspapers, and other low value items simply by using their mobile phones. This is known as a contactless payment. By December of this year it is hoped that users will be able to make payment with their phone at over sixty thousand shops.

James le Brocq, head of financial services at O2, said that the aim of the service was to “bring together the experience and capabilities of the financial services sector together with mobile to get the best of both worlds.”

Source – Mobile Choices