Euronet is to develop software for the creation of a "pocket ATM" for subscribers to Alltel Communications' mobile Internet services.
Euronet says the application will enable Alltel Web-Unwired customers to check account balances at any bank that participates in an automated teller machine (ATM) network.
"Wireless banking is another way wireless Internet technology will simplify the lives of Alltel customers," says Kevin Beebe, Alltel's communications group president. "Developing this first-of-its-kind application will extend the convenience of wireless banking to our customers."
He says the agreement with Euronet is part of an "aggressive plan" to bring financial services to Web-Unwired subscribers. The balance inquiry application will be rolled out early in 2001. Beebe says it is a first step toward plans that would allow customers to securely transfer funds between accounts, pay bills and make purchases using a mobile phone.
Alltel's Web-Unwired is currently available to digital wireless customers in more than 100 US cities, offering the anywhere-anytime ability to send and receive e-mail and view Internet-based content on their handsets.