Royal Bank of Scotland and NatWest have announced a new service for their mobile banking customers: peer-to-peer payments. According to a report in the Guardian, the new program will allow users to send money to any Visa cardholder using only a mobile phone number — no bank code or account number necessary.

The service will be offered to a select group of customers in a soft launch, and will get a full rollout after Easter, the story said.

For now only RBS and NatWest customers will be able to send money, though any Visa cardholder can receive funds. Additionally, no cross-border payments will be allowed just yet, but that's on the roadmap.

The service works by sending an SMS text message to recipients linking to a Visa website where they enter their card account number and the amount of the payment. The payment amount must be communicated between sender and receiver separately.

Transactions are limited to £100 ($149), or a total of £100 in payments per day.

Read more about money transfer/P2P.