O2 mobile wallet app launches text message payments

Posted by tranced
Mobile network O2 has launched a smartphone app that allows users to transfer up to Ł500 via text message.

It also allows customers to "digitise" their debit and credit cards to speed up purchases from online stores.

The firm also intends to allow users of phones with near-field communication (NFC) chips to make contactless payments in high street shops.

It is the latest of several firms to charge retailers a transaction fee for making it easier to shop.

The service will be free to consumers at first, but O2 said that it would charge 15p for each money message sent by text at a later date.

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