Payforit – A Closer Look at the Company
Payforit is a UK based company that allows users to buy good and services online using their mobile phone credit. The organization is jointly owned by four of the largest mobile phone service providers in the UK. Notably, this includes 3, EE, O2, and Vodafone.
Although most people now use debit and credit cards, and e-wallets like PayPal and Skrill, not everyone has access to traditional payment methods. On the contrary, the vast majority of us have a mobile phone. As such, the Payforit service is ideal for those that want to buy things online, but don’t have access to banking services.
How does Payforit work?
Although Payforit is owned by 3, EE, O2, and Vodafone, the service is available via all UK mobile phone networks. Moreover, the company also states that those on virtual operators like Lebara and Virgin can also use Payforit.
The process of making a purchase is very straightforward.
Let’s say for example you want to buy a digital music album. You don’t have you’re debit or credit card with you, but you want to buy the album right away. Once you get to the checkout page, you need to select Payforit as your preferred payment option, and then enter your mobile phone number.
You’ll then receive a unique PIN number from Payforit as a text message. In order to complete the purchase, all you need to do is enter this PIN number at the checkout page.
How does the merchant get my money?
Unlike a traditional debit/credit card or e-wallet, the funds are not taken from your bank account. Instead, the money is debited from your mobile phone. The exact process will also depend on whether you have a monthly contract, or a basic pay-as-you-go sim card.
If you’re on a pay-as-you-go plan, then the money is taken from your available credit. Take note, this needs to be credit in the form of funds, not minutes or phone credits that you bought in a bundle plan. Moreover, you can only make a purchase up to the amount of credit that you have available.
For example, if you have £15 in credit on your pay-as-you-go sim card, you can use this amount to buy up to £15 worth of goods, but nothing more.
On the other hand, if you’re currently on a monthly subscription, then the billing process is slightly different. Instead of the funds being taken from your available balance, you will have the amount added to your bill at the end of the month.
This means that you will be able to make purchases up to the amount of credit that your phone provider permits.
What can I use Payforit for?
The number of merchants supporting Payforit payments is growing rapidly. The key reason for this is that some consumers do not want to expose their debit or credit card details online. By using Payforit, the transaction process is much safer.
Such a safe, secure and convenient business model is perfectly suited to the online casino industry. This is especially true when you consider the rise of mobile gaming.
For example, if you’re away from your computer and you need to place a football bet before the game starts, but you left your bank cards at home, then you can simply use Payforit to deposit the funds. That way, you can ensure that you get the bet on, even if you don’t have any payment cards linked to your account.
It is important to remember that Payforit is best suited for deposits only. As such, if you do decide to use a Payforit casino, you’ll need to withdraw the funds via an alternative payment method.