Sprint announced yesterday MyMoneyManager, an all-in-one application for their customers’ mobile phone. This application allows users to send payments through Paypal and quickly access their bank accounts all from their mobile phone. Is it the economic times that prompted this inspired thinking?
Show me the money
Sprint calls it an industry first: Paypal payments transacted via your phone. I guess that is true if you look at it from a carrier offering point of view. As I switch from reading Sprint’s release on my iPod touch over to the Paypal app, I am reminded that non-carrier initiatives to control Paypal on the go has been around for a while.
My bank?
Sprint’s MyMoneyManager works with BB&T, Citibank, IBC (available in both English and Spanish) and PNC bank accounts. Check balances, find branches/ATMs and even pay bills. The app uses mFoundry’s mobile financial platform which Sprint says is secure.
Secure?
MyMoneyManager employs multi-factor authentication and remote deactivation, which is pretty cool. All personal info is wiped after each transaction. With mobile banking security is a top concern and it looks like Sprint has taken the usual precautions.
Future?
Sprint actually names some directions they may follow into the future with this application. Things like international remittances, contactless/NFC (near field communication) payments, coupons and other mobile wallet solutions. Hmmm, sounds interesting. Not enough to make me switch to Sprint, but definitely something I’ll keep an eye on.
Sprint is offering the application for free and plans to load the app on future phones. The app, as described, should be a help to many customers as well as grabbing Sprint some feel-good headlines in a week that leaves them as the odd man out when it comes to an App Store.
Product page: [Sprint]
This is good news for people on the run not so good news for those who are getting scamed from phishing emails now they can do this stuff on the go even easier. but sounds like some pretty cool stuff they are planing.