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| TextDebit™ to make SMS banking a reality for RBS MINT cardholders | |
| 16th October 2006 MINT cardholders wil be able to pay their monthly balances on their mobile phones from pre-registered debit cards using a new banking solution , from Telrock plc, a mobile-phone software specialist. MINT is a direct financial services company of The Royal Bank of Scotland plc. MINT card holder, will be able to request balance inquiries and available credit balances, view mini statements, obtain automated receipt of monthly bills and pay outstanding balances in full or part amount anywhere in the world. Telrock says the new technique uses common SMS technology, making the process simple and familiar for card holders. TextDebit™ requires users initially to register their MINT card and debit card or cards with Mint's central registration system, Credit Care, eliminating any risk of passing sensitive financial details across insecure channels. The integrity of TextDebit™ relies on the authentication of passwords assigned to the mobile number and the credit card by both the user and MINT. TextDebit™ will only authorise payment once both parties have successfully established their identities. MINT views the introduction of TexDebit™ as a natural progression for its Mobile Banking solutions. SMS text messaging is a key, proven method of communication in society today, and introducing a fully functioning banking channel through this medium is a natural and highly beneficial development. Jerry Toher, Managing Director of MINT, said: “Given the fast pace of modern life it seemed important for MINT to find a clever way for people's money to work around them rather than the other way round. Working with Telrock and implementing TextDebit™ has enabled MINT to do just this. By enabling people to simply send a text to get their balance and make a payment at any time of the day, our customers can manage their money easily, just like they would if they were arranging a night out with friends.” |
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