Nine-in-ten current account holders in the UK could soon be able to benefit from a mobile phone payment service.
Many financial institutions in the country have committed to a spring 2014 launch, which would allow customers to quickly and easily send or receive money.
Users would be able to return borrowed cash to friends or make payments to companies securely simply by sending a text message.
The Payments Council service demonstrates how more British businesses are getting on board with the latest technologies.
As they become more sophisticated, gadget lovers are using their handset for an ever-increasing range of capabilities.
More online businesses are building mobile-friendly websites and creating apps as smartphone shopping becomes more popular.
Retailers are also drawing tech-savvy consumers in stores with Near Field Communication (NFC) wireless payment terminals and free Wi-Fi hotspots.
Brits looking to take advantage of these modern facilities should look at replacing their old mobile phone with a high-end device like the Apple iPhone 5, Samsung Galaxy S3 or Google Nexus 4.
Posted by Samantha Green