Article
The mobile phone is already a camera, a music player and a satellite navigator: now it is to be an electronic wallet, too. From May 2007 vouchers for overpayments on utility bills, “cashback” sales incentives and small insurance claims will be sent direct to mobile phones. The UK Post Office service, called Payout, sends cash payments of up to £100 in a barcode via text message. The recipient converts it into cash at one of the Post Office’s 14,000 outlets, where the code is read by a scanner. The next generation of hand-sets is expected to add the function of a credit or debit card.