Mobiles to become digital wallets

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gkd_uk

Yellow Belt
The UK's big five mobile phone firms have switched on a payment system that turns handsets into digital wallets.
Called PayForIt, the scheme is designed for those buying goods and services with a value of up to ?10.

The industry hopes it will be used to pay for ringtones, train tickets, parking fees and eventually as a payment system on web shops and sites.

Any cash spent via the scheme will automatically be added on to a customer's phone bill.

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