Cingular: More Banks On The Mobile Banking Bandwagon

It’s only a matter of time until we’re at the store, trip over our untied shoe, and accidentally purchase a lawnmower with our cell phone. Don’t say, “That’s impossible!”, because after it happens you’ll have to take it back. It’s only a matter of time. From Reuters:

AT&T Inc. said on Tuesday it has taken a step toward the long-promised notion of phones replacing credit cards, checks and cash by signing agreements with Wachovia Corp. (WB.N: Quote, Profile, Research) and several other banks.

The agreements will allow customers of its Cingular Wireless arm, which is being rebranded as AT&T, and participating banks to manage their accounts and pay bills electronically by using an application on their cell phones
.
While the use of mobile phones for transactions is in its nascent stages in the United States, such services are already available in parts of Europe and Asia.

In Japan, people commonly shop with their mobile phones by just waving their handset instead of swiping credit card.

This may be great for you people, but what are we going to do with a lawnmower? —MEGHANN MARCO

UPDATE 2-Cingular launches U.S. mobile banking [Reuters]
(Photo: Mooshies)

Comments

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  1. Sorenso says:

    Hopefully they add a feature that turns it off.

  2. HearsMusic says:

    “Mobil” banking? Actually a gas pump/ATM would be a great combination. You could check balances or withdraw money while waiting.

  3. mopar_man says:

    @HearsMusic:

    While I agree that it’s a good idea, it’s like the credit card-accepting drink machines: just waiting to have card numbers stolen. And I’m sure more than a few brainless morons would leave their bank info on the screen after they’re done at the pump. After all, a lot of people can’t even remember to close the fuel door after they put the cap on.

  4. HearsMusic says:

    @mopar_man: I bet they could integrate with the “SpeedPass” gadget, no? A better idea would be to have a screen where you could wave your SpeedPass and have your pre-selected RSS feeds come up so you could read while you wait.

    Anyway, I was just trying to point out the typo in the headline.

  5. Mills says:

    Not only do I have to teach my mother how to turn her phone onto silent, but now I can look forward to teaching her how to use her phone to pay for Starbucks. Joy.

  6. royal72 says:

    @ meghann: i love that you still call ‘em cingular, as they are still cingular to me as well.

  7. getjustin says:

    My mom briefly for a company trying to do this very thing, but on a small scale such a buying a coke from a vending machine with you phone. Needless to say it wasn’t much of a success. Even the test model they had in the office didn’t work properly. How hard is it to reach for a wallet?

  8. roamer1 says:

    One really odd thing about this, which I’ve pointed out on some cell phone forums, is that all the banks Cingular (I still can’t bring myself to call the wireless part of AT&T AT&T) has made deals with so far are in the South and Mid-Atlantic states…which is nice if you live here in Atlanta or even in Tupelo, MS, but leaves people in places like Denver out in the cold. (Then again, Cingular seems to think most of the West doesn’t really exist anyway, and Cingular has much more of the wireless market around here than in the West.)

    I can do quite a bit of banking via my Treo, which has a full browser, but not everyone has one…

  9. superlayne says:

    I use my cellphone to donate to a website I frequent and ignore calls from druggies. I don’t want to buy real stuff or bank or really do anything else on it.

    Watch these things get stolen. Would it be the same as fraudulent card charges, or will AT+T just rip you off again?

    They’d probably be the one to steal your phone in the first place. Dx