Mint, the credit card company, has launched an SMS alert and payment service for their customers. It works by sending the balance and minimum payment to their customers to coincide with the monthly statement.
They can reply by text giving the amount they wish to pay.
Customers signing up for the mobile service register their debit card and mobile phone details before agreeing a security code word, which is transmitted in all messages.
Mint offered this service after research showed that 27% of UK adults say they are too busy to pay by traditional methods.
Too often SMS based systems, especially for banking and finance are over blown and complex. This is a good example of a simple application that will benefit the customer and reduce costs to the bank.
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