If AT&T is doing it, you can be pretty sure that Verizon isn’t far off. About seven weeks ago, the nation’s largest carrier announced that they would be offering mobile banking services with partners including Wachovia, SunTrust, and America First Credit Union among others. Yesterday, Verizon announced that they’ll be doing the same — exactly the same. This is through the same exact company, Firethorn Holdings, a Qualcomm company.
Verizon senior vice president of consumer products Jim Straight said, “After announcing our relationship with Firethorn two months ago, we’re making mobile banking a reality for our customers. And whether our customers prefer to bank at Wachovia, SunTrust, FirstBank or BancorpSouth, they can now do so wherever they go because Firethorn and their financial institution partners provide a secure, easy-to-use and flexible mobile banking application that delivers a superior customer experience.”
Usually, you have to be the first to the game or the best at the game in order to succeed. In this case, though, we think there’s an exception. AT&T might have been first to the game, but this move puts the two companies on basically even ground. Mobile banking is far from mainstream use, so this is just the foundation. In the long run, the seven-week difference will matter little.
The banking application will be available on the following phones: LG Chocolate, enV, VX8700, VX8600, VX9400, and the Samsung a950.
And the usual disclaimer holds true: This is a data service, and as such can cost you an extra fee on top of your monthly plan.
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