The Ukraine based GSM network, UMC says that it has conducted final tests of a mobile banking service and will launch it commercially shortly. UMC contract subscribers with the help of Multi Banking service and GSM-phone will soon be able to receive information on their own card accounts, assigned concurrently in several Ukrainian banks, manage these accounts and perform various payment transactions. Currently 10 major domestic banks are ready to cooperate in the Multi Banking project. The service has been successfully tested with two of them: AVAL and NADRA.
Software recorded on SIM-card has been developed by a Ukrainian company CardPay Systems, which has over 6 successful years of operation in Ukrainian market of mass electronic transactions. The description of haow the system will work suggests they are using SIM toolkit for over the air (OTA) updates when new services become available.
The joint venture UMC was established in 1992 by "Ukrtelecom" (51%), Deutsche Telekom (16.3%), KPN Telecom (16.3%.), TDC Mobile International (16.3%). At the end of May, the number of UMC subscribers stood at 1.255 million.'"
Posted to the site on 29th July 2002
Posted to: www.cellular-news.com/story/7265.php