Everyone who's reading this is likely very aware of what invoicing is. But did you know, that Scandinavian banks and mobile depositing companies are playing around with mobile invoicing, which is set to be the future of how we invoice and possibly, make deposits at our mobile casinos.
Mobile invoicing is set to shake up mobile depositing and change the way many of us make payments to our mobile casinos. In this guide, we'll take a look at mobile invoicing, what it actually is and determine when we will be seeing it on UK shores if it succeeds in Northern Europe.
What Is Mobile Invoicing And How Does It Work?
Mobile Invoicing is set to be the newest arrow in mobile depositing's quiver. Mobile depositing is an incredibly diverse depositing method, with players already able to pay using their mobile phone bill with just their mobile phone number as a requirement. On top of that, there's a whole new area of mobile depositing opening up with apps like Android Pay and Apple Pay offering players the ability to make bank payments instantly using only their mobile phone as a form of verification.
Mobile depositing may already have covered a lot of bases, but there's one area they've yet to tackle and that's where mobile invoicing comes in. Mobile invoicing's main selling point is that it allows you to make casino deposits on loan. While mobile phone bill depositing loans money to an extent, as it simply adds the deposit cost to your end of the month bill, mobile invoicing goes a whole step beyond that by actually running a credit check on anyone who uses it.
At present, mobile invoicing works like this. When a player makes a payment using mobile invoicing, they are asked to enter their mobile phone number and their social security number (SSN is required since the technology is only available in Scandinavia and will change as it's introduced to further countries).
The player will then have a credit check conducted on them, which can take up to 30 seconds. If their credit comes out as good, then the payment goes through to the casino and the player can start playing at the casino. An invoice is then sent to you via SMS, complete with the amount of the transaction and the day when repayment is expected.
Mobile invoicing is effectively short term loans, but it comes with no additional interest unless you go over the initial repayment term, so you can enjoy your mobile casino slightly before payday and then cover any of the costs once you've been paid, without any extra hidden charges. Mobile invoicing brings together the advantages of an invoicing service and blends it perfectly with your mobile phone, so you can keep your casino play time and you payments all mobile, just how we like it.
Mobile Invoicing: Coming To A Mobile Casino Near You
At present services which function with mobile invoicing are only available in Scandinavian territories. This is primarily due to the simplicity of running credit checks with just an SSN and mobile number, which the Scandinavian banking system is far better equipped to deal with.
However, as the service gains traction, it's likely that there will be a push to make the service function with other country's banking systems. Mobile invoicing is expected to hit the UK in the next few years, at which point we can expect to be making payments at our casino using just a National Insurance Number and mobile phone number.
Until then, players will have to make do with the current choice of mobile depositing methods, which are more than enough for most players to get by. However, for players who await a day when they can use the casinos at their own leisure and handle the cost after the fact, mobile invoicing is on its way to answer those prayers.