The service is set to enable customers using the RBS or NatWest mobile application to send a payment to anyone with a Visa card and a UK mobile phone number. All non-business Visa debit, credit and reloadable prepaid cards that are billed in pounds are supported by the service. The sender doesnt need the other persons sort code and account number and the recipient does not have to register in advance in order to receive a payment.
Recipients will get a text message containing a link to a secure Visa website. They then need to key their card number and the amount into the site in order to receive their payment. The text message does not disclose the amount paid, and the sender will need to let the recipient know what the amount is so they can input it.
The service will be available to RBS customers in Scotland and NatWest customers in England and Wales only, with the possibility of a partnership with Visa Europe which will be extended into cross-border payments in the future.
In recent news, the Royal Bank of Scotland (RBS) has launched the RBS SEPA Accelerator, which will help corporate clients to migrate to the mandatory SEPA standards.
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