Mobile Pay - the Future of Payment?

Online, October 7, 2013 (Newswire.com) - In the near future the danes will only need to bring along their phone when shopping.
Mobile Payments has been successfully used in Denmark for some time now, in opposed to the United Kingdom where the application will not be introduced before spring 2014. There are existing ways to transfer money using mobile phone, but it is not possible to link up every bank account in the country with a mobile number, which makes the danish Mobile Pay app more sophisticated (http://www.paymentscouncil.org.uk/current_projects/mobile_payments/).

In general the new form of payment makes it possible to enable secure payments to and from a danish bank account only by using a mobile phone number as a proxy. So far the application has been downloaded by 600.000 danish citizens and is being used between individuals when transferring money. The danes have been extremely opened towards Mobile Pay, which is why the technology is now developed to include stores.

Expanding
In the beginning of October 2013 Mobile Pay expanded to also include a selected number of shops and cabs. A visible badge with a phone number will help the customers to get payment done while waiting for their coffee or at the end of a cab ride. With Mobile Pay, the shop owners will not miss out on potential customers, because they do not have a credit card portal etc. Furthermore the cab drivers will not have to take the risk of driving around with cash.

For the time being, Mobile Pay only include a small number of shops, but the goal is to expand towards a larger number of stores and thereby making it possible to use smartphones as the general payment.