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UK Payments Council 'developing mobile platform'
10 Aug 2011

Banks hoping to adopt Near Field Communications (NFC) payment methods across their network of branches could benefit from recent plans announced by the Payments Council.

According to NFC World, the body - which is responsible for setting fee handling techniques in the UK - is currently developing a new infrastructure platform to carry out the simple task.

The system, designed as part of the Council's innovations, is set to provide increased efficiency for on-the-go individuals looking to reduce their queuing time in banks.

In addition, the efficient payment method is set to be provided for members of the public with any type of mobile phone and a current account.

Richard Martin, Head of Innovation at the Payments Council, said: "Some [banks] may use it to extend their iPhone, iPad or other mobile apps, some may go for NFC and some may use browser-based systems or SMS methods."

This news comes after ABI Research predicted that NFC transactions in China will reach $8 billion (£4.9 billion) by 2014.