New mobile payment service in the UK named Beem

In the UK a new mobile payment service was recently introduced to allow customers to initiate their transactions via simple SMS text message. At the moment the service was joined by Tops Pizza and London Heathrow Express Cars. In a short time a number of universities and students' unions will also implement Beem where it will likely be more popular.

In order to subscribe for the service a user of any mobile phone should text ‘hello’ to the company's non premium number. After sending the SMS a customer receives a message where he/she should confirm his/her password and debit card details. This will result in a new account opening. The service charges no fees except the fee for money transfer to a bank. Fees related to sending SMS text messages are part of the payment scheme accepted by the mobile provider of the user.

"Beem is a revolutionary new mobile money solution which will most certainly redefine mobile payments," exclaimed Bean CEO and founder Kerl Haslam. "Until now mobile money has never really taken off but Beem is set to change that… completely independent of mobile networks, handsets and banks, users can pay back a friend or get prepay top ups on any network. Users can even pay for a pint, pizza, cab or club membership via Beem and through our merchants… If you now forget your cash card or money, there is no need to go via an ATM to get cash, with Beem you can load cash into your account through a simple and secure text message and have access to cash within seconds."