“The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities,” say the two companies. “In addition to contactless payments, service users will be able to transfer money from their registered accounts to other bank accounts, perhaps in response to an overdraft alert or to friends and family. The service will also deliver retail coupons and discounts directly to the user on their mobile phone.”
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