US payments network Nyce has partnered m-banking outfit Monitise to offer its bank and credit union participants the option of providing customers with text message balance enquiries.
The free basic text message transactions will be offered as a standard feature of full participation in the Nyce Network, which has over 480 financial institution members.
Powered by Monitise Americas, the new offering will serve as an extension of the balance inquiry functionality already offered at ATMs by Metavante unit Nyce.
Consumers will be able to request and receive real-time balance information on their primary accounts via text. The service will work for virtually all mobile phone users regardless of carrier or handset.
Nyce cites a recent survey commissioned by Monitise Americas which found that more than 75% of respondents consider it important to have real-time account information.
Steve Rathgaber, president and COO, Nyce, says: "With mobile financial services quickly becoming mainstream, Nyce believes that consumers will soon expect the ability to access their demand deposit accounts using their mobile phones - in much the same way they expect that access through an ATM today."
Last week Nyce parent Metavante agreed an all stock deal worth around $2.94 billion to be acquired by Fidelity National Information Services.