Mobile Banking Updates - Dec 2nd

Absa Launches New Mobile Service
"A new mobile service to bring greater control and convenience to millions of its clients, has been launched by the largest retail banking group - Absa. Over 3.5 million Absa clients using the SMS messaging service, NotifyMe, can now request instant balance enquiries and statements, as well as purchase prepaid cellular airtime, from their cellular handset."

Citizens Bank of Canada Launches Mobile Solution
"Have you ever found yourself standing in line to purchase something and wanted to check your bank balance? Now you can through text messaging from your mobile phone. Introducing Mobile Banking with BANKCB."

Can You Hear Us Now? Mobile Carriers Eye Financial Revenue
"As bankers continue to roll out services for mobile phones, wireless carriers are trying to find ways to earn more revenue from the financial activities moving through their systems."

Cell Phone Payments Make the World Easier For Terrorists, Too
"The Reuters article said little about the downside of the new technology. But terrorist financing experts in and outside government have long been worried that the mobile payment development is outpacing regulators' and law enforcement's ability to detect and prevent use by terrorists."

Alltel Wireless, mFoundry Partner for Alltel Wallet
"Alltel Wireless, will leverage the extensible mobile wallet platform from mFoundry (San Francisco) to create the Alltel Wallet, which will initially provide access to a consolidated mobile banking experience, providing customers with access to a wide variety of U.S. financial institutions."

Economy Puts Mobile Marketing on Hold
"If all went according to plan the day after Thanksgiving, JC Penney customers were roused with a wake-up call. The service was provided free as part of a Black Friday mobile marketing push. Consumers had been invited to come to JCP.com to sign up for the call, SMS shopping tips and sales alerts. This is a prime example of how this much-hyped marketing channel is helping companies like JC Penney, Subway and Coca-Cola court consumers through their cell phones and PDAs. The only problem: The economy is in free fall, leaving some marketers leery of dumping dollars into an unproven medium."

The Mobile Banking Opportunity for Small Businesses - Are Banks Listening?
"Small businesses want mobile banking services. Approximately one-third of those interviewed expressed a likelihood that they will use mobile banking."