Moneybookers Gives SMS Banking Confirmations

Permalink: Moneybookers Gives SMS Banking Confirmations by Alan Harten

Over the past few years, many of us have become accustomed to the once worrying concept of Internet Banking.

There was considerable consumer resistance when it first appeared, with “shock, horror, probe” tabloid headlines saying we would all be hacked and have our money stolen.

Although this has turned out to be a genuine problem, it has never become significant enough to stop tens of millions turning to online banking convenience, especially as the web sites don’t keep bankers’ hours.

This is very useful if we are unsure about a transaction or worried that there is a problem with the account.

Now online payment company Moneybookers and mobile messaging service Clickatell want us to take the next logical step, by offering SMS alerts regarding its eWallet customer transactions.

This means that transactions going out of their accounts are confirmed when they buy something or money transfers are sent and so on.

This has a huge possible advantage of letting customers know immediately if there is a security issue with the account, because they will know that they are not shopping in Birmingham as the confirmation says, if they are at work in Liverpool.

The next logical step is the much touted payments by mobile devices, which we are promised is just on the horizon.

But for the time being the security aspect does seem very appealing.