Visa Europe has announced that multi-currency and immediate payments will be added to its Personal Payments mobile service across Europe. The features will allow consumers to conduct transactions immediately from their mobile phones to Visa cardholders in Europe.

Registered users can transfer money by entering the Visa user’s mobile phone number through the bank application. Recipients are not required to be registered in order to collect the funds; as part of the real time payment function, the funds will be transferred immediately. The immediate payment function has already launched in the UK, and other European markets will follow by the end of 2013.

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In addition, a multi-currency feature allows for international transactions across Europe, as payments can be sent and received across borders. The firm aims to roll out the function across the EU by the end of 2013.

Sandra Alzetta, senior VP at Visa Europe, said the new features "combine the convenience of mobile device use with the ability to send money to 460 million Visa cardholders across Europe, solving a problem that millions of consumers face every day – giving money to another individual easily and securely".

So far, the Visa Personal Payments system has 17 registered issuers across Europe, with banks such as Royal Bank of Scotland launching the services through their banking application. According to Visa data, 1.7m UK customers downloaded the mobile app in the first two weeks of launch.

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