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February 15, 2007

Bank of America Goes Mobile: Is It Deja Vu All over Again?

posted by MR WAVETHEORY at 2/15/2007 02:33:00 AM
You have to love the stuff that happens in tech these days becasue it's like deja vu all over again. Bank of America announced it is offering mobile bill pay and account transfers on mobile phones.
Bank of America’s online banking customers will now be able to use their mobile phones to pay bills, check account balances and transfer money with its new secure mobile banking service.

The free service, which will be available to customers in Tennessee starting in March, can be accessed from all four major U.S. carriers (Cingular, Sprint Nextel, T-Mobile and Verizon Wireless). Customers will be able to use a wide variety of handsets, including most mobile Internet-enabled feature phones and smartphones. The service will expand to other markets across the country through mid-2007.

This isn't entirely new. A few years ago during the height of the dot com boom, there were more than a few companies doing mobile banking like 724 Solutions and Aether Systems. 724 Solutions now trades on the pink sheets for $3 - well off its high of $2400. 99.999% wipeout! Then there is Aether which changed its name to Nexcen Brands trading for $9. It was well over $300 at its peak. Good for a 90%+ wipeout!

I hope this time things turn out better!

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