The service will provide consumers with a safe and convenient way of topping up not only their own phones, but those of friends and family through the familiar and secure interface of the internet bank. Top up transactions will be stored enabling the customer to retrieve and organise them appropriately for example by name, amount or time. Top ups can be re-used repeatedly with just one click.
The UK prepay mobile phone top up market is currently worth over £4.2 billion per annum and it is estimated that 15% of all top ups in the UK will be made through the internet banks by 2014.
Commenting on the new service, Miles Quitmann, CEO at OneVu, said: “Today a large percentage of top ups are being made through retail channels that represent a high cost of sale for the mobile operators. We aim to help them lower costs by providing a new channel for their customers that is secure, convenient and more cost effective. We envisage the service will be used for guest top ups, for example a parent topping up the family stable of mobile phones, either regularly or on request.
“As a low risk, frequently used transactional service, this is also a valuable service for internet banks. At OneVu we will continue to introduce new services that bring banks, businesses and individuals together. We will be announcing further innovations over the coming months,” he concluded.