UK retailers launch mobile payments scheme
The Mobile Money Network (MMN) – a four-month old UK retail alliance – has announced its first service offering, an app- and SMS-based mobile payments tool called ‘Simply Tap.’ Described as a “common sense approach to buying products and services via a mobile phone,” Simply Tap allows users to send a product code (either via app or SMS) to buy goods at participating retailers. Users must first go through a one-off registration process to register personal details, debit or credit card numbers, and delivery addresses. MMN says that the service will work with “any mobile phone, on any mobile network and with any bank.”
MMN is a joint venture between Monitise, Best Buy Europe and Carphone Warehouse founder Charles Dunstone. It says it is in discussions with 17 of the top 20 UK high street retailers and many leading financial institutions regarding the forthcoming rollout.
The alliance also announced the appointment of two high-profile UK business leaders as non-executive directors: Sir Stuart Rose (pictured), the former M&S executive chairman, and Lord Davies of Abersoch, the former UK Minister of State for Trade Promotion and Investment, and former chairman of Standard Chartered. “[Simply Tap] represents a massive commercial opportunity for retailers if they can take advantage of it,” said Rose. “At a time when consumers are short of time but demanding instant gratification, this proposition delivers. The potential is huge.”