Mobile Sense, established in 2002, has developed the technology to allow for the secure transfer of money via SMS text messaging.

Their BeemTM system is unique in that it allows the consumer to use his mobile phone as an independent payment solution (independent of bank, network, hand set, product and location) to make bank to consumer, consumer to bank, consumer to consumer and consumer to merchant payments.

Beem™ is the only mobile transaction system in operation that allows for peer to peer transactions. No additional hardware or software is required so that there is no on-cost to the merchant who wishes to accept Beem™ payments.

The technology has been designed to be compatible with international banking systems and is licensed worldwide. It has been signed as secure by one of the UK’s largest retail banks.

The system is being successfully trialled amongst the student populations of five Universities in Oxford and the Thames Valley where merchants signed up to the trial include student unions, pizza companies, taxi companies, festival organisers, convenience stores and mobile phone top-ups.

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