Verizon launches mobile payment service for e-commerce

Verizon Wireless on Monday announced the launch of a mobile payment service that will allow customers to charge online purchases directly to their monthly cellular bill.

Verizon Wireless on Monday announced the launch of a mobile payment service that will allow customers to charge online purchases directly to their monthly cellular bill.

In partnership with e-commerce firm Danal, the BilltoMobile payment service will begin later this spring. Verizon Wireless customers will be able to pay for online content downloaded and consumed from Danal's participating network of e-commerce merchant partners.

The mobile payment service will feature a $25-per-month spending limit for these purchases, along with content and parental controls for individual accounts.

Here's how it works: Consumers click on a BilltoMobile button during checkout at a participating online Web site. After inputting a mobile phone number and billing zip code, a text message is sent to the phone with a one-time passcode. Put the passcode into the online checkout window and the transaction is complete.

The companies say the entire process takes about 15 seconds.

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