OneVu Limited, the company behind the Internet banks’ electronic bill management service, is finalising development of its latest innovation – a mobile phone top-up facility available for Internet bank users. Discussions are progressing well with both mobile phone operators and leading online banks, with a planned launch of the service during the early stages of the second quarter 2009.
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 £4.2Billion 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.”
OneVu’s bill management service is branded ‘Bill Manager’ at Lloyds TSB and ‘Bill management’ at RBS and NatWest and offers consumers a consolidated view of all their bills and statements whilst online “at the bank”.
Note to Editors:
OneVu is the UK’s first service which lets people see, track and pay all their bills from the familiar, secure environment of their online bank. It is a joint venture between VocaLink, which processes over 4 billion financial transactions each year, and Checkfree Corporation, now part of Fiserv.
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