Phone number.<\/strong> You receive a text message from your bank or transfer specialist, responding as directed to set up the service.<\/li><\/ul>After sign-up, your financial institution will provide instructions on how to transfer money by phone. After completing your payment request, your recipient receives a text explaining how to claim your money.<\/p>
Making purchases with SMS mobile payments<\/h4>
Some retailers and other services also allow customers to make purchases by text. In most cases, they will text a payment request to your phone \u2013 usually in the form of a link or code, which acts as mobile checkout, allowing you to pay for goods or services on the spot.<\/p>
Mobile wallets<\/h3>
Mobile wallets are another way to use your smartphone for purchases and transfers. Offered by banks and third parties, all you need is your credit or debit card number and a mobile device to get started.<\/p>
In most cases, you just download a wallet app, enter your credit or debit card information and set up a PIN or fingerprint for security. From there, your wallet takes care of transactions without you having to dig for your card.<\/p>
Contactless mobile payments<\/h4>
Some smartphones are equipped with NFC \u2013 near-field communication technology. It\u2019s a tech-heavy way of referring to contactless payments, where you pay for purchases by waving or tapping your device on a contactless terminal.<\/p>
Access to mobile wallets is growing, with most of the big-name high-street shops and supermarkets on board for tap-and-go payments.<\/p>
Read our guide to the pros and cons of contactless payments.<\/a><\/p>Google Pay<\/h4>
Google Pay is a mobile wallet that offers a multiple payment methods supported by most major UK banks. You simply sign up for a Google account, add your credit or debit card as a payment and send or receive money in minutes.<\/p>
Google Pay allows users to transfer money and pay for purchases by:<\/p>
- Text to mobile numbers<\/li>
- Contactless payments<\/li>
- Gmail<\/li>
- iMessage, Android Messages and other messaging systems<\/li>
- Amazon, iTunes and other apps<\/li>
- Online checkout<\/li>
- Android messages<\/li><\/ul>
Apple Pay<\/h4>
If you\u2019ve got an iPhone, Apple Pay helps you get paid and send cash to phones through similar payment methods. You set up and verify your debit, credit or Apple Pay Cash card in the built-in mobile wallet app to transfer money and buy through:<\/p>
- iMessage<\/li>
- Siri<\/li>
- Apple Watch<\/li>
- Contactless payments<\/li>
- iTunes and other apps<\/li>
- Mobile web stores<\/li><\/ul>
Mobile payment services<\/h3>
If you aren\u2019t quite ready for mobile payments and mobile wallets, other third-party payment services make it easy to store your sensitive payment details for future mobile transactions.<\/p>
These services often require only a phone number or email and bank account for on-the-go transfers and payments.<\/p>
Banking apps you can send use to send money to friends and family<\/h4>\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n