Payforit is the UKs mobile micropayment scheme. Payforit is effectively a set of guidelines and an agreement that has been made between all mobile network operators about how to handle mobile payments.
Mobile payments are exactly how they sound. You pay for goods by charging the amount to your mobile phone credit. You can purchase digital goods including Facebook games, Sony products and even music on Spotify. All you do is select the pay by phone bill option. A text will be sent to your phone confirming the amount, and you simply reply to authorise the payment. You don’t get charged for the anything but the price you agreed to purchase the goods for. This system works with all UK mobile operators who have agreed to the Payforit guidelines.
Every major network is part of this agreement, including 3, 02, Vodafone and EE. Budget mobile companies are also part of it, such as Tesco Mobile and Talk mobile. A few secondary mobile networks like LEBARA, can sometimes have issues.
Here are the big things you need to know about Payforit before trying it out: It’s a payment system completely focused on transactions using mobile phone credit. This will either be from your mobile credit if you’re using pay as you go or charged to your mobile phone bill at the end of the month, if you’re on a contract.
There are no hidden charges Your transactions are limited to £10 per transaction You can only buy digital goods at the moment, but physical goods are a possibility in the future. This is limited at the moment because mobile phone billing services currently take a sizable cut of the payment from the merchant, therefore increasing the costs on their end. You can pay by mobile using any number of API handlers, such as Boku, fortumo and even Paypal.
All of these payment handlers are controlled by the Payforit guidelines, so the money goes from your network operator, to the merchant via your payment handler like Boku and all of it is governed by Payforit’s rules.
So that is our quick guide to Payforit. We hope that this guide has been of use to you and you have learned quite a few things about Payforit and mobile deposits in general. You are also encouraged to check out a similar article at Casinoslots if you want to learn more on the topic.