14 DAY TRIAL // Verizon Wireless announced a partnership with Firethorn Holdings, a company specialized in mobile banking and payment solutions that will enable Verizon's customers to interact with their financial institutions using Firethorn's mobile financial services application.
"After carefully researching the marketplace and surveying consumer preferences, we concluded Firethorn will provide a secure, easy-to-use and flexible mobile banking solution that will deliver a superior user experience for our customers," said Jim Straight, Verizon's senior vice president of consumer products. "We expect these mobile banking services will be valuable to our customers, paving the way for us to introduce more comprehensive payment capabilities."
Verizon's banking services powered by Firethorn will allow users on-the-go to view account balances and history, transfer funds and receive and pay bills, all from their cell phone. The mobile banking solution is enabled by a software application embedded on select wireless handsets that enables the interaction with financial institutions and takes care of all the security issues. Verizon Wireless plans to pre-load the Firethorn application on devices in the future. Also, Verizon Wireless and Firethorn will team with financial institution partners to conduct marketing and consumer education programs to encourage the adoption of the banking solution.
"Firethorn's larger vision is to provide consumers with a safe, secure and consistent access point to their financial information through their ever-present mobile device. Viewing balances, making transfers and paying bills is the first step. Bringing new and exciting functionality to the mobile handset, such as the ability to view and redeem loyalty points, reload gift cards and perform purchases at the point of sale, including contactless payments, is core to our mobile financial services strategy," said Tripp Rackley, CEO of Firethorn. "Today's announcement with Verizon Wireless is an important step toward broad adoption of mobile financial services - delivered through the Firethorn solution. Together with Verizon Wireless and our financial institution partners, we are helping to define the market for mobile financial services."