Telecom carriers, banks seek more mobile revenue

Everyone expects financial activity to be a big driver of mobile services in the near future, which has bank and telecom firms alike jockeying for position. Each group senses a huge, if still uncertain, revenue opportunity. Led by Bank of America, financial institutions large and small continue to roll out basic financial services--as you well know--but several telecom firms have jumped into the fray. The latest: Alltel, of Little Rock, announced it plans to offer a host of new mobile payment services next year, notes U.S. Banker. It has partnered with mFoundry to create the Alltel Wallet. Sprint has also announced mobile financial services. For now, carriers want to drive traffic, but other revenue opportunities will likely emerge.

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