TMCnet News
Elan Financial Services to Offer Mobile Banking Through Phire Mobile Debit Network TMCnet Contributing Editor Elan Financial Services, a provider of full range of payment and transaction solutions, has reportedly partnered with Sapphire Mobile Systems to deliver secure and easy to use Paycard account access using mobile handsets.
Elan Financial will be utilizing Sapphire’s Phire Mobile Debit Network; an SMS based solution which does not require separate download or software – and which allows users to manage their banking needs in real time with just few clicks. Banking services include account balance inquiry, fund transfer and card transfer. Sapphire has chosen Elan to pilot the new service, which will provide customers with a secure method for making transactions. “The Phire Mobile Debit Network provides Elan PayCard customers with a unique, secure and easy to use alternative for their banking needs,” said Richard A, Rasansky, CEO of Sapphire Mobile Systems, in a press release. “This pilot with Elan is an incredible opportunity to work closely with one of the leading financial institutions committed to next generation payment technologies. We are thrilled that Phire’s patent-pending, bank-friendly open-loop approach to mobile banking and payments is being piloted by Elan. Adding real value and convenience to the customer experience in banking and payments is what Phire is all about.” This initial pilot, which will begin this March, will be offered to selected Elan PayCard customers. Dominic Venturo, senior vice president, Elan Financial Services, said he is pleased with the partnership - and the benefits it will offer to Elan’s clients. “We have worked closely with the Sapphire team for more than six months to assist them in bringing their new service to market and to enable the Phire transactions for an Elan pilot,” he said. “We are excited about the continued evolution of the payments industry and find this solution unique in that no new hardware or software is required on the handset and because the transactions are secured through a variety of sophisticated measures that are easy for the consumer to use. We are pleased to be piloting this SMS based solution.” ---------- Beverly Maniago is a contributing editor for TMCnet. To see more of her articles, please visit her columnist page. |