25 April 2018
visit www.nextgenbanking.co.uk

Link to launch mobile ATM service

13 December 2004  |  6713 views  |  0 mobile in hand

UK cash machine network Link has signed up two of the UK's high street banks and four mobile operators, including Vodafone, to its MobileATM service which allows users to check bank accounts and purchase air time from their hand sets.

MobileATM - a joint venture set up in 2003 between Link and computer services company Morse - will be launched in the first quarter of 2005, according to a report by the UK's Daily Telegraph newspaper.

The initial roll-out will involve two of the UK's biggest high street banks but as many as half of Britain's banks are expected to offer the service within 12 months.

The new service replicates the look of a cash machine screen on a mobile phone and offers many of the same functions - such as access to account balances - except the ability to withdraw cash. The system may be developed to include services such as mini bank statements - and potentially to extend overdrafts and transfer money to other people's accounts.

Users of the mobile networks involved will be able to activate the MobileATM service by texting a code to their bank. Two days later they will receive a single-use activation number in the post which will allow them to view their account balance using their mobile hand set using their normal PIN number.

Link says the service should be successful because its cash machines are currently used 60 million times a month for balance inquiries. The venture aims to take a small cut of mobile transactions, initially through the top-up service.

Link's existing mobile-top up service is available on 18,000 ATMs in the UK.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nationwide introduces mobile top-ups at ATMs

Nationwide introduces mobile top-ups at ATMs

17 November 2004  |  4515 views  |  0 comments
Lloyds TSB introduces mobile top up at ATMs

Lloyds TSB introduces mobile top up at ATMs

19 October 2004  |  9762 views  |  0 comments
Cardpoint pilots mobile top-ups on ATMs

Cardpoint pilots mobile top-ups on ATMs

30 September 2004  |  4139 views  |  0 comments
Morse forecasts IT spending up-tick

Morse forecasts IT spending up-tick

01 September 2004  |  3937 views  |  0 comments
Link encrypts site-to-site transactions with Thales

Link encrypts site-to-site transactions with Thales

02 March 2004  |  4179 views  |  0 comments
Morse shares rise on financial sector deal rumours

Morse shares rise on financial sector deal rumours

09 January 2004  |  3366 views  |  0 comments
Link bows to pressure on cash machine charges

Link bows to pressure on cash machine charges

31 July 2003  |  4543 views  |  0 comments
Link rolls out mobile top-ups across ATM network

Link rolls out mobile top-ups across ATM network

19 May 2003  |  5030 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit www.nextgenbanking.co.ukVisit http://response.ncr.com

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
14882 views comments | 21 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11465 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
9808 views comments | 26 tweets | 36 linkedin
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
8898 views comments | 20 tweets | 21 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8832 views comments | 20 tweets | 36 linkedin

Featured job

Competitive base, double OTE
London, UK or Paris, France or Frankfurt, Germany (other major cities in Europe considered)

Find your next job