Denmark-based Danske Bank has rolled out a new mobile payment service in Lithuania that allows customers to transfer funds and make payments for money orders through their smartphones.

The service, which is provided in collaboration with the Mokipay mobile wallet, allows users to perform bank transfers by entering the beneficiary’s mobile telephone number instead of a bank account number.

The Mokipay brand is managed by UAB Antigravity Payment Systems, a company which holds an e-money license from the Bank of Lithuania.

UAB Antigravity Payment Systems director general Algirdas Baltaduonis said customers will get a new, simple method of payment that supplements existing payment channels.

"This mobile service has been designed by Mokipay and is installed together with the banks, which aim at providing more alternatives to their customers," Baltaduonis added.

The mobile payment service is secured and reliable with the addition of an extra layer of authentication, where the user has to enter a PIN code to complete the transaction.

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To use the new service, customers should choose the online service and link the application with the bank account.

Danske Bank Corporate Development director Darius Jasinskis said the bank’s experience in electronic and mobile banking allows them to offer customers the most state-of-the-art banking solutions.

"Through the introduction of mobile payment service, we further simplify everyday banking," Jasinskis added.