Friday, November 17, 2006
Cingular to Launch Mobile Banking in 2007
Posted by Janak Parekh in "NEWS" @ 09:00 AM
"Cingular Wireless, the No. 1 U.S. cellular operator, said on Wednesday it is talking with banks about letting its customers manage their money by cell phone as part of a push to expand phone use beyond talking. The wireless venture of AT&T Inc and BellSouth Corp. said a wireless banking application it is testing would let customers of participating banks view account balances, transfer funds and pay bills on their cell phones. Spokesman Mark Siegel said Cingular hoped to launch the application commercially in early 2007."
This is both good and bad, methinks. At least a carrier is pushing more banks to set up mobile banking. On the other hand, will Cingular get exclusives with banks? Or will each carrier have a different banking system? This sounds recipe for confusion and annoying balkanization.
This is both good and bad, methinks. At least a carrier is pushing more banks to set up mobile banking. On the other hand, will Cingular get exclusives with banks? Or will each carrier have a different banking system? This sounds recipe for confusion and annoying balkanization.
