T-Mobile US starts trial for Money mobile banking service

News Wireless United States 30 NOV 2018 Updated: 2 DEC 2018
T-Mobile US starts trial for Money mobile banking service

T-Mobile US has started a trial of T-Mobile Money, a mobile banking service it says will give a 4 percent annual percentage yield (APY) on balances of up to USD 3000, for people putting at least USD 200 per month in their checking account. Users will be able to access over 55,000 no-fee ATMs worldwide with the Allpoint ATM Network. The service is FDIC insured and provides 24/7 customer support. T-Mobile US says the service has for the moment only been rolled out as a pilot, on a limited basis.

LightReading notes that the service will offer non-T-Mobile customers an APY of 1 percent. It added that T-Mobile US launched a Mobile Money trial in Miami in 2014 that never got much further. The operator was also involved in a mobile wallet system in 2013 called Isis, also backed by AT&T and Verizon. Isis was rebranded as Softcard in July 2014.

Updates
2 DEC 2018 - Added comment from T-Mobile US

Categories:

Mobile

Companies:

T-Mobile US

Countries:

United States

Tags:

e-Payment, Launch

Related Articles

UNITED STATES 24 JUL 2019

US mobile bank MoneyLion announces USD 160 mln in funding

MoneyLion announced USD 160 million in funding including USD 60 million in previously unannounced financing and a USD 100 million Series C funding round. The funding will be used to rapidly accelerate the growth of its mobile banking services in the US.

UNITED STATES 18 APR 2019

T-Mobile US launches mobile banking service nationwide

T-Mobile US announced that its mobile banking service is now available nationwide, following a trial launched last year. The free bank account can be opened and managed from a smartphone and offers T-Mobile postpaid customers extra interest on the account balance.

GLOBAL 10 DEC 2018

MoneyGram launches mobile app in US, 14 additional countries

MoneyGram released its new mobile app in the US, the company's largest send market, and 14 additional countries. The MoneyGram mobile app (IOS and Android) offers convenient features like biometric identification, location finder, transfer tracking, plus exchange rates and fee estimates. Outside of the US, consumers in France, Germany, Spain, U.K., Australia, Austria, Belgium, Denmark, Ireland, Italy, Netherlands, Norway, Portugal and Sweden can also download the app and enjoy a convenient and personalised

UNITED STATES 24 FEB 2015

Google buys Softcard, partners US operators on m-payments

Google has acquired the technology and intellectual property of US mobile payments venture Softcard. First started under the name Isis, Softcard was launched by AT&T, T-Mobile and Verizon to bring NFC-based mobile payments to their customers. Softcard's technology will now be integrated into the Google Wallet. Under the new relationship with the mobile operators, the Google Wallet app, including the tap and pay functionality, will come pre-installed on Android phones (running KitKat or higher) sold by these

UNITED STATES 20 FEB 2015

Google to re-launch Wallet by May - report

Google is preparing a new version of its mobile payments wallet and aims to unveil the service at its developers conference in late May, people familiar with the matter told the Wall Street Journal. According to the report, Google is having trouble securing cooperation with device makers, mobile operators, banks and payment networks. In some cases, it's offering them a greater share of revenue in order to ensure their support for the Google Wallet. Google first launched Wallet in 2011, allowing owners of so

UNITED STATES 19 JAN 2015

Google mulls acquisition of Softcard - report

Google is in talks with Softcard, a payment technology consortium backed by Verizon Wireless, AT&T and T-Mobile, for a price estimated at under USD 100 million, TechCrunch reported, citing sources familiar with the situation. Softcard was launched in 2010 under the name of Isis. The joint venture laid off around 60 employees earlier this month and is trying to restructure. Google is reportedly interested in Softcard patents and applications for patents. The joint venture has just over 120 in all. There are

UNITED STATES 13 JAN 2015

Softcard announces employee layoffs

Softcard, a payment technology consortium backed by Verizon Wireless, AT&T and T-Mobile, has laid off 60 employees due to restructuring, the company said, according to Re/code. The layoffs affected between 12 and 30 percent of its employees, according to the staff size range the company discloses on LinkedIn. 

UNITED STATES 11 JUL 2014

Isis Mobile Wallet looking for new name and new users

M-Payment service Isis must go looking for a new name and branding, and a larger user base. The NFC service launched by AT&T, Verizon and T-Mobile USA is available nationwide. The number of activated wallets is growing, but commercial success will need more than that.

UNITED STATES 8 JUL 2014

Mobile payments specialist Isis to rebrand

Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, is looking to rebrand and distance itself from the name of the militant group ISIS, which has been linked to sectarian violence against civilians and armed forces in Iraq and Syria. As a result of the unwilling sharing of names, the mobile wallet provider said it is actively working on a new brand, and will disclose more details in the coming months. The company added that it remains committed to growing the

UNITED STATES 15 MAY 2014

Isis sees 20,000 new Isis Wallet activations per day

Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, saw an average of over 20,000 Isis Wallet activations per day in April, and reports that its growth rate doubled over the prior month. 68 mobile devices across AT&T, T-Mobile and Verizon Wireless currently support the Isis Wallet. The Wallet now comes preloaded on 14 smartphones with more preloaded devices in the future.

UNITED STATES 5 MAR 2014

Isis unveils NY Yellow Taxicab promo for American Express

Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless has launched an exclusive promotion for American Express Card Members from 5 March through 1 June. Isis is offering American Express Card Members who tap to pay with a registered card for a ride in a qualifying NYC Yellow Medallion Taxicab the ability to get 50 percent back in statement credits. The promotion is available to American Express' U.S. Consumer, Open Small Business and Serve Card Members with a re

UNITED STATES 13 DEC 2013

Wells Fargo intros Isis m-wallet to its credit card users

Wells Fargo has signed a partnership agreement with Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless. The agreement allows Wells Fargo Visa consumer credit cardholders to load their cards into the Isis Mobile Wallet. This launch enables cardholders to pay, redeem coupons and present loyalty credentials, with the tap of their phone.

UNITED STATES 22 NOV 2013

Isis launches Alliance Program for merchant tech partners

Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, has launched the Isis Alliance Program. The Isis Alliance Program supports merchant technology ecosystem partners with tools and resources to help them capitalize on the opportunities created by mobile commerce.

UNITED STATES 14 NOV 2013

Isis Mobile Wallet launches across US

Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless has announced the latest version of the Isis Mobile Wallet is now available to consumers for download in the Google Play app store and at AT&T, T-Mobile and Verizon Wireless retail stores nationwide. The Isis Mobile Wallet allows customers to pay at contactless payment terminals and save money through special offers and loyalty cards at participating merchants from their smartphone. the Isis Mobile Wallet sec

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.