Alltel Wireless will be using mFoundry’s extensible mobile wallet platform to create the Alltel Wallet, the companies announced today.
The Alltel Wallet initially will provide access to a consolidated mobile banking experience, providing customers access to a variety of U.S. financial institutions. mFoundry’s technology, which combines comprehensive mobile banking, mobile payments and mobile commerce capabilities, will provide Alltel the platform to plug in enhanced financial solutions and other advanced functionality from select third-party developers.
mFoundry’s mobile financial services platform is based on Mojax technology. mFoundry’s platform allows the Alltel Wallet to evolve by giving third-party developers an ability to add modules to the wallet. mFoundry’s mobile wallet platform has pre-built modules for peer-to-peer remittances and other payment services to help developers deploy new features.
The Alltel Wallet will debut in 2009. Alltel Wireless recently launched Alltel Mobile Banking, a free service giving customers mobile access to accounts from many leading financial institutions. The Alltel Wallet will provide one-stop access to those financial institutions as well as access to many other payment services.
Earlier this year, mFoundry announced a mobile wallet application with Sprint, MyMoneyManager, that provides users with access to multiple mobile banking applications, as well as peer-to-peer payments through PayPal.
mFoundry and others expect big growth for mobile banking. In Japan, more than 50 million people – or about half of all cell phone users – already carry devices capable of serving as wallets.
