Mobile phone recycling: St George Bank launches pay-to-mobile feature
St George Bank has announced it is launching a pay-to-mobile feature for its mobile phone app, which is available on iPhone, Android, BlackBerry and Windows Phone 7 smartphones.
All users need to do is enter the mobile number of the person they would like to give money to and then hit transfer.
The app will then notify the recipient of the transfer and direct them to a secure website to add their account details in order to collect the funds, The Sydney Morning Herald reports.
This follows a recent report from Gartner that predicted a 42 per cent annual growth in mobile transactions worldwide in the next five years and a shortage of banknotes.
Chief executive of Australian Payments Clearing Association Chris Hamilton said that mobile payments are very convenient as everyone has mobile phones.
Vice president of marketing for ATM manufacturer NCR Bob Tramontano added: "You can do as much of the transaction as you want by yourself or you can be hooked up to a call centre where you speak to a live teller in your language."
Posted by Simon Thomas
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