Verizon Wireless announced today that it will partner up with Firethorn Holdings so that Verizon customers can use Firethorn’s mobile financial services application. Verizon customers will be able to view and interact with their accounts while on-the-go in a secure environment.
Verizon senior vice president of consumer products Jim Straight said, “After carefully researching the marketplace and surveying consumer preferences, we concluded Firethorn will provide a secure, easy-to-use and flexible mobile banking solution that will deliver a superior user experience for our customers. We expect these mobile banking services will be valuable to our customers, paving the way for us to introduce more
comprehensive payment capabilities.”
“Firethorn’s larger vision is to provide consumers with a safe, secure and consistent access point to their financial information through their ever- present mobile device,” explained Firethorn chairman and chief executive officer Tripp Rackley. “Viewing balances, making transfers and paying bills is the first step. Bringing new and exciting functionality to the mobile handset, such as the ability to view and redeem loyalty points,
reload gift cards and perform purchases at the point of sale, including contact less payments, is core to our mobile financial services strategy.”
Rackley continued, “Today’s announcement with Verizon Wireless is an important step toward broad adoption of mobile financial services — delivered through the Firethorn solution. Together with Verizon Wireless and our financial institution partners, we are helping to define the market for mobile financial services.”
Verizon and Firethorn will have to convince the public that banking over mobile phones is at least as secure as banking on-line. MobileCrunch reported last month that Americans (are) Wary of Mobile Banking. Companies that want to provide on-the-go banking services need to get the message out that using a mobile phone to transact banking business is safe and reliable. Verizon and Firethorn plan to team up with others to conduct marketing and consumer educations programs aimed at aiding and encouraging mobile banking. It will take some coaxing, but once the public is convinced that mobile banking is safe, the doors will open to a whole host of unique banking solutions that will become part of everyday life.