Mobile Phone Credits for Online Payments

Filed in archive Mobile Commerce , Mobile Technologies on April 14, 2007

Combining the advances in mobile technology with the interactive nature of Web 2.0, you will get: Online Payment thru Mobile Devices. The concept of mobile devices as payment mode is gaining grounds as evidenced by recent developments like mobile banking, a hot topic now in US.

Consumers have proven their hunger for the digital services that Web 2.0 provides, such as games, social networks, dating sites, e-books and blogs, but are often reluctant to use their credit cards for payments of £5 (US$6.75) or less - the hard-to-collect micropayments.

New mobile phone based online payment service OneBip has been designed to solve this problem and to meet the needs of both online retailers and consumers. It allows consumers to turn their mobile phone credit into money to be spent online, transforming any mobile phone account into a payment tool without the need for a credit card or bank account.

Consumers are increasingly comfortable using their mobile phones as a payment method, which will help to generate a high volume of paying and recurring customers. The worldwide penetration of mobile phones will also help to generate more profits for online retailers and allow them to attract a new range of consumers.

The one thing missing with OneBip's site is its list of accredited online retailers supporting this payment tool. In the face of increasing hacking activities, this alternative brings promise of security and power of mobility to all tech savvy consumers. The main challenge is to get the mass market embrace this technology in their daily spending.

Via TMCnet