Firethorn Joins with Cingular to Offer Mobile Banking Services

By Niladri Sekhar Nath

TMCnet Contributing Editor

 

Mobile banking and payments enabler Firethorn Holdings, LLC has entered into a strategic agreement with Cingular (News - Alert) Wireless to offer mobile banking and payments services to Cingular Wireless customers.

The alliance will prove beneficial for both Firethorn and Cingular. Thanks to the agreement, Cingular can access sophisticated solution for the financial services industry. On the other hand, consumers will be able to carry out comprehensive banking and payments functions on all supported Cingular handsets.

The mobile banking and payments application is currently under trial. Firethorn has said that the service will be available in early 2007. The service will help consumers view account balances, transfer funds, receive and pay bills and clear contents if their mobile device is ever lost or stolen.



“Firethorn is the gateway between wireless carriers and financial institutions that enables mobile banking and payments for consumers anytime, anywhere and on virtually any device they choose,” stated Firethorn Chairman and CEO Tripp Rackley in a press release. “Firethorn is uniquely qualified to deliver mobile banking and payments because our heritage and leadership represent unparalleled success in wireless communications, banking and electronic payments.”

The collaboration with Cingular is a part of Firethorn’s mission is to bring together and manage the complex network of partners, technology certifications and platform interfaces facilitating mobile banking and payments.

Cingular has introduced mobile banking and payments services for its customers after a survey reveals that two-thirds of America’s 300 million people use wireless phones and almost 60 percent of wireless customers use their handsets for something other than making calls.

“It is the right time for the wireless industry to begin moving ahead with mobile banking,” said Mark Collins, Cingular’s vice president for long-term products and services planning. “With the simplicity of its single pathway, Firethorn will make it easy for Cingular to work with financial institutions who want to deliver mobile banking services to our customers.”

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Niladri Sekhar Nath is a contributing writer for TMCnet covering telecommunications, service providers and networking. To see more of his articles, please visit his columnist page.