Every day new technologies are created and improved, one of the latest technologies to emerge means that instead of carrying a wallet with credit cards in to pay for goods and services, you can use your mobile phone number instead.

Mobile Phone Payments

Making payments via your mobile phone is fast becoming one of the easiest and most convenient ways spend your money. Buying digital goods online such as downloadable music, games, tickets or physical goods such as gifts and books are the most popular uses of mobile payment services and transactions are predicted to exceed over $300 Billion worldwide by 2013.

Merchants Accept Payments from Mobile Phones

Merchants in the western world are starting to see the potential of mobile phone payment systems as another channel to use. In India mobile payments have been used for quite some time, over 250 million people in India use a mobile phone but as most Indian people don't posses a credit card, then the introduction of mobile phone payment systems has been a step forward.

According to recent research, consumers in Singapore and Malaysia are the most open to making payments using their mobile phones. This would include paying bills, performing banking transactions or shopping online.

Growing in Popularity

Making mobile payments online is already growing at a fast rate with some of the biggest companies in the world getting in on the action. Companies including Google with the new Gphone, Yahoo and the huge online payment processing company Paypal. Another company Mobillcash has created a revolutionary new system that allows consumers to make online payments via their mobile phones for a wide range of different products and services. This new system already has a massive user base of over 500 million mobile phone users in over 15 countries worldwide. It is supported by over 100 mobile phone networks including AT&T, Vodafone, O2, 3, Sprint and many more.

Mobillcash Mobile Phone Billing and Payments

Using Mobillcash means no credit card or ID is required, users simply enter their mobile phone number in the online billing form and payment is taken from their mobile phone bill. By the end of 2008 Mobillcash has predicted to have over 1 billion transactions carried out using this new system.

The mobile payment industry is soon to become one of the fastest growing markets in the world. If you own a website visit Mobile Phone Money and find out how easy it is to start accepting mobile payments for your own goods and services. Alternatively visit MobillCash directly to sign up as a merchant.