UK merchants advised to prepare for new Payforit 4 mobile payment standard

Payforit 4

A new report from mobile messaging and payment solutions provider, OpenMarket, advises digital merchants in the UK using m-billing to charge for goods and services to be fully prepared for when Payforit 4 becomes the UK standard for internet-based discovered m-payments. Payforit 4 is the UK mobile micro payment scheme designed to enable consumers to use their mobile phone account to transact securely and safely when purchasing content and services on the internet. It also enables consumers to pay for online products and services on their mobile device and charge the payment back to their mobile bill. Consumers who use Payforit 4 do not need a credit card or bank account, or need to pre-register for the service. Payforit 4 is available for consumers to use for both pre- and post-paid mobile accounts.

New features in Payforit 4 include support for non-cellular wireless connectivity such as Wi-Fi and a payment flow across multiple handset and device types, such as tablets. In addition, it includes single-click purchasing for easy repeat billing and an embedded version for merchants to integrate it into their website or browser-based mobile app.

The m-payment market includes a number of different methods, including Premium SMS, direct mobile billing and mobile web payments (WAP). Operators in the UK will begin to mandate Payforit 4 as the industry standard for m-payments from September this year.

“[Payforit 4] allows merchants, content providers and developers to monetise their products and services to the entire UK consumer market via the mobile channel,” said Adrian Sarosi, OpenMarket’s Director of Sales and Marketing. “Merchants must act now to assure the future of any existing services as the mandates come in to place.”

 

 

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