Text messaging technology has made its way into the banking scene as NYE has announced that it will offer balance inquiries by text message to its financial institution participants as a standard feature of full participation in the NYCE Network.

NYCE Payments Network, LLC, is a leading U.S. electronic payments network and a Metavante company. Metavante Corporation is a leading provider of banking and payments technology.

The basic text message transactions will be an extension of the balance inquiry functionality commonly available at NYCE Network ATMs, with no additional fees for mobilization. The new service, powered by Monitise Americas, will allow consumers to use text messaging to request and receive real-time balance information on their primary accounts.

Text message balance inquiries will work for virtually all mobile phone users regardless of their mobile carrier or the type of handset they use.

(Source) Press