Customers of HSBC and First Direct in the UK will soon have access to banking services through their mobile phones after the banks signed up to the technology.
The service, called MoniLink, will allow customers to check their bank balance and mini-statements, as well as top up their own or somebody else’s mobile phone credit.
The banks – both part of the wider HSBC group – will be the first in the UK to offer the service, which require users to download an application to their phone and then choose a five digit pin to access their account.
MoniLink, the company behind the service, is looking to expand the format to all of the major UK banks by the end of the year, and then overseas should it prove popular.