It’s now easier than ever to link your mobile phone to your bank account. These mobile payment accounts are gaining in popularity as it let you buy things online (and offline) without the need of using a credit card.
How it works

1. Link your mobile phone to your checking or credit card account
2. Swipe the phone at contactless pay stations or services that support the service, such as taxis
3. The money for the transaction is taken from your bank account just like a debit card.

Here are 5 companies that offer different mobile payments:

1. Bling Nation
Creates RFID-enabled stickers which are attached to mobile phones. The phones can then be used to make contactless payments. The ‘stickers’ work like debit cards in that they must be activated before use and are linked with the user’s bank account. The sticker is put on the phone and can then be swiped at stores that offer contactless payment solutions.

Money is immediately withdrawn from the account and a receipt for the purchase is sent via text message.

2. Mobile Payment Skins
These mobile phone skins have an RFID inlay which lets you use the phones for making contactless payments. The company is working with prepaid accounts, i.e. like debit cards.

3. Obopay
Offers both bank accounts (linked to Obopay Mastercard) and prepaid accounts. Sign up for a free account with Obopay and make payments and receive payments using the account. It works for making purchases from high-street stores as well as for exchanging money with authorized individuals.

You pay a transaction fee when you make payments.

4. Vesta
Offers mobile payment solutions for both consumer and commercial businesses.

Mobile payments can be made using SMS, MMS and SIM-based technologies and can be linked to a credit card, checking account or prepaid mobile account.

5. Verrus
You can use your mobile phone to place a phone call to complete a transaction.

1. When you make the call, the money is withdrawn from your account (or charged to a credit card).

2. You can use their pay-by-phone service to pay for taxi fares and parking in certain U.S. states.

3. Call the number, complete the voice transaction and receive your receipt online.

If you know of any more or have used these services, please add your comments below.

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