Motorola Launches Mobile Banking System
Feb 8, 2006, 2:00 PM by (staff)
Motorola today announced M-Wallet, a solution that allows users to unite all of their bank accounts, credit cards and more on the mobile phone. This system is currently composed of a secure server hosted by a carrier, and a downloadable client for nearly every platform including Java, BREW, Windows Mobile and Symbian. The client allows users to access information on their accounts and complete online banking operations including funds transfers, bill payments and statement reviews. In the near future, M-Wallet will be able to replace the cards themselves and not just access to their accounts. M-Wallet will operate in conjunction with Near Field Communication (NFC) chips once they are included in handsets or available as an accessory. Phones can then be used to make near-instant pay at registers, access cash machines or act as a ticket for events or transportation. M-Wallet will be equally platform agnostic as a mobile payment system - it should be compatible with any standards-compliant NFC enabled phone regardless of manufacturer.
The solution, of course, is a robust security system that deletes your own data after a few failed attempts to log in to the device. It's better than it f...
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