RBS and its subsidiary Natwest are following in the footsteps of its rival Barclays by announcing an agreement with Visa to launch a mobile payments service allowing customers to send money to anyone with a Visa card.
As a result the service will enable customers using RBS or Natwest mobile applications to carry out payments to anyone with a Visa card and a UK mobile phone number, without having to register them in advance. A text message redirects the recipient to a website where they enter their card number to complete collection.
The service will have GBP100 limit and will be available to RBS customer in Scotland and Natwest customer in England and Wales only. However, there is scope for a partnership with Visa Europe which would extend the service to cross-border payments in the future.
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