Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Exchange of cash payment via mobile phones made easy

By John Harry Subscribe to RSS | March 7th 2012 | Views:
loading
 
  



A recent scheme launched by The Payments Council, will enable exchange of cash payments to be made directly between all the banks by using mobile phone numbers. All the banks are updating their processes to avail their customers this facility so that the customers could make cash payments from one bank account to another through their mobile phones. The industry body under the payments council will be developing a central database to allow all the banks to link their customers’ mobile phone numbers from their accounts by the end of this year.

The process to avail this service has been made very user friendly, the customers are just required to register their mobile phone numbers with a bank and a building or a society. The security part has also been given serious concern keeping the risks of fraudulent activities into consideration; the customers will be assigned a unique pass code to activate their accounts. As the customers enter their assigned unique pass code, they will instantly be connected to their accounts and then they can send and receive money in seconds. Having just mobile phone will not be enough to be able to enjoy the service; you are required to have Smart phones with an internet access. There is also a limitation in the amount of money to be transferred, every bank has set certain transaction limit up to which their customers can send and receive money.

The scheme hit the news when Barclays launched its own mobile phone application just a week ago. The Barclays’ new scheme offers its customers to make payments up to £300 through their mobile phones or other gadgets having the enabled application with internet access. The news has motivated other mobile phone companies to develop their own application to provide similar or more advanced facility to their customers. Apply with instant personal loans @ http://www.instantcashpersonalloans.co.uk/ and get required funds transfer in no time.

Barclays’ “Pingit” application facilitates faster payment transfer service as the payments are made via faster Payments electronic system. The users are simply required to make a call to the person on his mobile phone number whom they want to send the money, and enter the amount they want to send. On the other hand, the recipient is required to download the application received in his message to accept the transferred payment. Barclays is anticipating that its service will also be used for instant transfer of small and regular payments like restaurant bill, hospital bill, purchase bill and bills for various services like cleaning, repairing and any gadget servicing etc.

John Harry - About Author:
John Harry is expert finance advisor in online marketing finance. He writes for instant personal loans , instant payday loans and instant decision loans


Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/exchange-of-cash-payment-via-mobile-phones-made-easy.htm

Related Loans Articles Subscribe to RSS

Small short term loans- Quick reliever of cash hurdles
Published by David Hassia on May 18th 2012 | Loans
With the aid of small short term loans, it is quite feasible for you to avail quick funds up to $150...
 
Emergency bad credit loans- Gain huge sum of money to meet cash woes
Published by Alan Cruzs on May 8th 2012 | Loans
By availing emergency bad credit loans, you can overcome financial trauma with ease. It is an ultima...
 
1500 cash- Small and useful fiscal support available online
Published by Malen Cheks on June 25th 2012 | Loans
For taking instant funds, you must avail 1500 cash loan in order to grab quick funds up to $1500....
 
Fast cash loans no credit check- Cash advance for everyone
Published by Adam Felix on April 11th 2012 | Loans
If you are taking instant cash via fast cash loans no credit check scheme, you will easily overcome ...
 
Instant cash loans fast access to funds for urgency
Published by Angela on December 8th 2011 | Loans
Instant cash loans ensure that you get the cash instantly in the same day for any urgency. You can b...
 
Ez payday loans - Unique cash advance available today
Published by Ricky Loyel on July 9th 2012 | Loans
Today, ez payday loans are supposed to be the ultimate fiscal solution for everyone....
 
Cash loans for bad credit- Ultimate cash support for bad credit holders
Published by Andrew Stomes on May 17th 2012 | Loans
By acquiring quick cash from cash loans for bad credit, you can manage day-to-day financial needs....
 
Fast cash advance- Fast monetary aid in unfavorable situations
Published by Roy Baker on February 28th 2012 | Loans
To avail instant funds without mere wastage of time, cost and effort go for the online application. ...
 
Now get easy cash by just sending a message
Published by Kevin Cook on February 23rd 2012 | Loans
World is changing and technology has made many impossible things possible, now you van avail quick f...
 
90 day payday advance- Ultimate cash loan for 90 days
Published by Karen Rase on June 13th 2012 | Loans
If you are borrowing instant funds via 90 day payday advance, it is possible for you to meet unexpec...
 
Payday Loans with Instant Approval – same day access to cash
Published by ArtHarris on December 2nd 2011 | Loans
Payday loans with instant approval is assured for the people for urgency if they are employed and wa...
 
Fast cash- Ultimate destination to meet fiscal emergencies
Published by Thomas Symends on March 23rd 2012 | Loans
If you have obtained quick funds through fast cash loan, you can easily maintain financial emergenci...
 
Bad credit installment loans- Obtain instant cash with ease
Published by Ross Futher on May 5th 2012 | Loans
With the aid of bad credit installment loans, you have the great opportunity to overcome any financi...
 
6 month loans UK – provide cash to applicant for next 6 months
Published by Hayes Davis on July 21st 2012 | Loans
6 month loans UK can relish the funds for any purpose he desires to. He pays his utility bills like ...
 
I need cash now with bad credit – take cash depending upon your requirements
Published by Alvin on May 8th 2012 | Loans
I need cash now with bad credit provide you with an opportunity to right your history mistakes where...
 
500 fast cash- Small but very useful funds to meet small fiscal expenses
Published by Kenim Wids on May 9th 2012 | Loans
If you are availing quick cash via 500 fast cash loan, you can fulfill unexpected financial expenses...
 
Payday loans online – insistent solutions for urgent cash needs
Published by Johanwatson on March 27th 2012 | Loans
Payday loans online are the distinctive resolution for all the issues that are available in the mids...
 
Bad Credit Loans Today – convenient way to cash advances
Published by Artharris on August 4th 2012 | Loans
Bad Credit Loans Today is widely being liked in modern world. As a result of it offers an unmatched ...
 
400 Cash Loans – quicker deliverance for cash
Published by David Hussey on May 18th 2012 | Loans
400 Cash Loans are obtainable at intervals twenty four hours. These funds are mainly designed for in...
 
Fulfill your cash related problems in a blink of an eye.
Published by Alice Johnsonn on January 3rd 2012 | Loans
Quick Cash Loans Today, is the way to swiftly acquire funds with no other hassles. These funds can b...