Transcard Adds Apps For Mobile Banking

Transcard unveiled two new financial applications this week, further evidence that developers are determined to turn mobile phones into banking passbooks.

The software vendor said Transcard Mobile was built specifically for payroll card members with text-enabled cell phones and gives them full bank account access using their mobiles.

Transcard Mobile also includes a new, WAP-enabled mobile Internet Web site, where cardholders can make balance inquiries, get text alerts for balances, confirm transactions, and transfer funds securely. Mobile users will also retain access to a voice-response system for controlling specific account activities, Transcard said.

The company also unveiled Electronic Payroll Stubs, which distributes electronic wage statements and payroll updates via SMS texts.

Transcard offers a variety of electronic funds transfer services including direct-to-card payroll technology, electronic fuel and transaction processing, and health care and gift card products. The company expects to process more than $1.8 billion in transactions this year, up from $1.2 billion in 2007.

"With advancements in the realm of SMS messaging and electronic statements, Transcard can truly support a paperless society and aim to save an estimated 205,000 trees a year that contribute to the production of payroll stubs that are never opened," said Craig Fuller, CEO of Transcard, in a statement. "Our mobile initiative will achieve two goals -- eliminate waste involved with cutting paper stubs, and reinforce Transcard's commitment to an eco-friendly environment."

In conjunction with the Transcard Mobile Initiative, Transcard said it also has overhauled its Transcard.com Web site to improve how customers establish account alerts, download reports, and track expenses.