ATT makes US mobile phone banking alliance

0 Comments | AFP, March, 2007

SAN FRANCISCO (AFP) — Telecommunications giant ATT announced Tuesday that it formed an alliance to enable people in the United States to use mobile telephones like cash, checks or credit cards.

ATT said it was working with Atlanta-based mobile banking firm Firethorn, online commerce website CheckFree and a set of US banks to fulfill the vision.

While people in parts of Europe and Asian already have the option of using mobile telephones to make store purchases or tend to banking, the innovation is in developmental stages in the United States.

"This is revolutionary," industry analyst Jeff Kagan told AFP.

"This is the first wave for cell phone banking here in the United States. We've been watching for years overseas. It is a proven system. People love...