Cingular Prepares Mobile Banking Service for 2007

Accordingn to Reuters, Cingular is now testing a mobile banking application which enable its subscribers to access their account info, transfer money and make payment using their mobile phone. The company did not name their bank partners, but it is definitely not going to be a single bank only access.

''We hope a lot of banks participate,'' Cingular spokesman Mark Siegel said. ''The early signs are very encouraging.''

Cingular is not planning to charge a separate fee for the mobile banking application, instead they will earn the revenue through the data subscriptions and new mobile service subscriptions. Customers would be able to use the banking feature by downloading an application that Cingular is currently testing from privately held Firethorn Holdings LLC.
11/15/2006 2:02:44 PM
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