Telecom gear manufacturer Ericsson has come up with a new Internet Payment Exchange (IPX) targeted towards online publishers which will enable publishers to offer subscribers a opt-in  mobile payment system, reports the Guardian.

Subscribers using the system need to enter their mobile phone numbers on the web page of the publication. Subsequently they will be fed with a four digit PIN over the SMS. The charges for the subscription are deducted from the user’s mobile bill. The subscription can be for single article or multiple articles.

Though payment systems for online publishers are already available, Ericsson says that the difference with its solution is that it offers the least barriers to entry approach as no pre-registration of banking details are required to be fed by the user. The user only needs to feed the mobile number.

Ericsson say more than 60 service providers are compliant with its system’s carrier billing. It plans to launch the service on October 26 in UK. Ericsson aims to charge £1,000 a month for the service to the publishers.

The company further claims that its mobile payment system have helped publishers generate a conversion rate as high as 10 to 15 times in the trials.