MoBank Ltd., a mobile banking start-up in the United Kingdom, has set a July 6 launch for a payments service that runs through the network of Nippon Telegraph & Telephone Corp.'s European unit, NTT Europe Online.

MoBank said Wednesday that its service would allow users to buy movie tickets, music, books, and other products. The service would eventually allow users to make money transfers, pay bills and handle other banking tasks with their phones. It would be available first users of Apple Inc.'s iPhone and later to other phones.

"The Internet has revolutionized how we shop and manage our money. The next step is to take this to mobile phones," MoBank co-founder Dominic Keen said in a press release.

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