Tuxedo Money Solutions and Monitise plc have announced that holders of The Tuxedo eccount card will be able to manage their prepaid funds held on the card using their mobile from early next year.
The service will be available on any major UK mobile network from over 95% of the handsets currently available in the UK.
It is based on the same multi-award winning technology that powers MONILINK, the mobile banking and payments network that provides services to customers of Alliance & Leicester, first direct, HSBC, NatWest, Royal Bank of Scotland and Ulster Bank.
Mark Simon, CEO of Tuxedo Money Solutions said: "Everyone has a mobile phone these days and letting Tuxedo eccount customers manage their money from their mobile is the ultimate service. After all, it's when they are shopping that they really need to know how much they have to spend.
"The market for pre-paid cards spans all demographics, including those who don't have internet connections at home - we believe in extending the availability of our payment solutions to new and underserved audiences. By offering a mobile management service we are ensuring that all of our cardholders can keep track of exactly what they have, wherever they are."
Richard Johnson, chief strategy officer for Monitise added: "The burgeoning market for pre-paid services reflects consumers' desire for the universal acceptance of card-based accounts with the comfort of knowing that their exposure to risk is limited.
"Our Pre-Pay Mobilisation Programme is focused on bringing the convenience of mobile management to the pre-paid market to deliver total financial transparency to every card based account. This will allow consumers to be able to understand instantly their current balance, their transaction history and to keep on top of their payments at all times."
The Tuxedo Prepaid card service offers a secure way to shop online, make payments and purchases at over 25 million merchants and withdraw cash from over 1.3 million ATM's making it one of the most attractive multi purpose cards available on the market. It's ideal for anyone who wants the reassurance that a pre-paid card provides, by avoiding worries aboutaabout overspending, credit checks and does not require a bank account. Topping-up the Tuxedo eccount Cards with cash is available in over 35 000 locations in the UK, including The Post Office, PayPoint outlets and select High Street Bank branches. Customers can also load funds by bank transfer and by using credit/debit cards.
The Sun Tuxedo Card, developed by Tuxedo Money Solutions, will also offer access via mobiles for its customers to this service
Alastair Lukies, CEO of Monitise plc added: "This announcement is another example of the growing mobile revolution in financial services. As the card market continues to grow, both financial institutions and consumers are looking for a convenient and secure way to manage money on the move. The Tuxedo Card is a great way of providing the mass-market with easy access to card based services and mobile management will only make it more compelling."