NYCE Payments Network is now offering mobile banking and payments services to financial institutions. Leveraging a recent agreement between Monitise Americas and Metavante Corporation, NYCE will deliver the Monitise Americas platform directly over its existing network architecture.

 

NYCE will deploy the Monitise Americas platform to deliver a mobile banking and payments service designed to be compatible across multiple mobile carriers, enabling the consumers to use the service without having to switch carriers or handsets. According to NYCE, the planned services include balance inquiries, funds transfers, mini-statements, text message alerts, and bill payment. A large number of financial institutions plan to launch services in the fourth quarter of 2007.

 

Steve Rathgaber, NYCE president and chief operating officer said in a statement that this arrangement is one of the first to offer financial institutions mobile services that are as simple and as secure as plugging into the network. He added that offering this type of service through a single relationship with NYCE provides their financial institution participants the means to initiate mobile financial services without significant integration efforts or integration costs.

 

NYCE's network services will be integrated into Monitise Americas services. While settlement of funds will be performed through the NYCE standard process, existing NYCE reports will reflect the new transactions.

 

Lisa Stanton, executive vice president, Monitise Americas indicated that the ATM switch offers a trusted means of connecting customers with their accounts—now through their mobile phone. She explained that the consumer's handset is individually registered with the service and protected by a unique passcode offering 24/7 protected access to essential financial information. The encryption also helps preserve the integrity of customers' information and transactions.

 

Monitise Americas has engineered its platform specifically for the North American mobile banking and payments market. The company has leveraged some of the best practices and award-winning technology developed by Monitise for the MONILINK service in the U.K. that provides mobile banking and payment services to U.K. customers of HSBC, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest and Ulster Bank.

 

Monitise Americas is a joint venture between Monitise plc (MONI.L), a specialist in mobile banking technology, and Metavante Corporation, a provider of banking and payments technologies to financial institutions and businesses worldwide.

 

NYCE Payments Network, LLC, helps its clients grow with innovative new products and strategic alliances that enable them to capitalize on the efficiency, consumer convenience and security of electronic real-time payments.

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