Cingular Wireless Plans Launch of Mobile Banking Service

Telecom News Editorials Reports Glossary

Cingular Wireless Plans Launch of Mobile Banking Service

6:45 am on November 17, 2006 | Category: Telecom Services, Mobile Devices, Wireless, Cell Phones

America’s largest cell phone carrier, Cingular Wireless, announced this week that it is in talks with a number of financial institutions about a new service that would let customers manage banking transactions on their mobile phones.

Cingular said that once the mobile banking service is launched, customers of participating banks will be able to view their account balances, transfer funds between accounts, and pay bills wirelessly.

“We hope a lot of banks participate,” said Mark Siegel, a spokesman for the carrier. “The early signs are very encouraging,” he said, but wouldn’t name any specific banks or financial institutions.

Siegal went on to say that Cingular expects to launch the new service commercially by early 2007, and that it will be available at no extra charge to mobile data subscribers.