A tip was sent in about a really great app that’s being tested. It’s a mobile funds transfer/payments application from eCom Financial Corp., who are known for their MasterCard Gift Cards that are prepaid debit cards that are non reloadable and not associated with a pin. Their cards are very secure, using a CID but no information on how much is on the card.
All the user will need is a BlackBerry and a RIM/ECOM Mastercard to link to the phone. Since testing, it has proven capable of transferring funds from one BlackBerry to another or any ECOM MasterCard account. It has a dynamic icon, and allows the user to check the balances and transactions on the BlackBerry. You can make payments locally or country to country (be careful with those scammers out there).
In the works they plan to have a free download available through the BlackBerry App World, integrate with BlackBerry Wallet, load funds through online banking or MasterCard recharge network, and will have currency conversion available. You’ll have the ability to pay bills from your BlackBerry and also contactless payments through the phone. The app will be free, $.25 per funds transfer will be charged, $.10 POS, $1.50 per atm cash withdrawal, and $.25 a bill pay. We’re hoping this comes out soon, it would be worth the relief of knowing you can shop with your phone and your funds are safe and secure.
Hopefully this may reduce the current amount of credit/debit card fraud. What do you think of the app? Would you be likely to use it? Why or why not?