UK m-banking outfit Monitise and its US partner Metavante are working with handset retailer Carphone Warehouse to develop a pre-paid card scheme that can be managed from a mobile phone.
The launch will see the introduction of a Carphone Warehouse pre-pay card. Using a secure application stored on the handset, customers will be able to top-up the card directly from their bank account.
Monitise says the service will include full mobile management and customers will be able to check balances, view recent transactions and transfer money onto and off the card using their mobile phone.
Alastair Lukies, CEO of Monitise, says the mobile pre-paid card "will change the way consumers shop and manage their money, while also making online and telephone shopping more convenient and secure".
"The Carphone Warehouse prepay card, backed by mobile money management, will offer consumers a fantastic new way to manage their money," adds Andrew Harrison, CEO at the Carphone Warehouse.
Monitise said last year that it was working with card payment network Visa to develop a mobile pre-paid account service for the European market. The service will enable customers to create Visa pre-paid accounts on their mobile phones that can be loaded with funds from a bank account or a credit or debit card. The vendor said in February that the first pre-paid product arising from the Visa partnership is expected to launch in the second half of the year.