Abstract: The present invention relates to a method of conducting financial transactions using a phone node in communication with a transactional server, wherein such method uses telephone numbers as identifiers to the financial values transacted. Each financial account is mapped to a plurality of value-related telephone numbers, wherein such numbers correspond to a payee. The payment transaction starts when a payer dials the value-related telephone number programmed with the financial value that corresponds to his financial account, then a telephony PBX node hangs up on the payer and the value is credited from the payer's financial account and is debited to the payee's financial account. In the method of the present invention, the payee maps the value-related phone number to the financial values, and stores said mapped data of the transactional server prior to conducting the financial transaction.