The Telefonica-owned cellular owner is establishing an app that performs in a identical way to Pingit, enabling clients to weblink their cell contact variety to their records so they can exchange money with a textual content.
Whereas only Barclays clients can deliver money using Pingit, O2's app is available to all UK financial institution clients, as well as clients on all cellular systems.
The Expenses Authorities lately said we could anticipate industry-wide technological innovation like this within the next two years, although the O2 app could be up and managing within three several weeks.
O2 isn't the only system to see the prospective of technological innovation for financial. Another cellular company, United kingdom, is operating in relationship with Charge to make a cellular payments system which could allow its clients to credit their cellular with money which they could invest instead of money.
Google and PayPal already provide cellular transaction solutions and there is a certain need for this type of technological innovation for records. 20,000 people downloadable the Pingit app within two times of its release.
