Cyprus-Forum.com

[Sotos]

LAIKI eBank yesterday announced its new method of day-to-day banking via mobile phone text messaging (SMS).

The new Laiki SMS Banking service offers its customers the opportunity to get information and perform financial transactions through text messages, quickly, easily and securely.

The functions are activated through the sending of an SMS message from the customer’s mobile phone, who subsequently gets the answer on his mobile, again in the form of an SMS (two-way SMS).

Each transaction costs only 2 cents (plus VAT), slightly higher than a normal SMS message.

The service will provide customers with information about their bank accounts and cards, their shares portfolio value and other financial information such as foreign exchange rates and share prices. They can also perform financial transactions such as fund transfers, card payments, electricity and telephone bill payments, card or cheque cancellation, purchase or sale of shares and more.

With SMS Banking, customers have access to their bank’s services 24 hours a day in both Cyprus and abroad, via their mobile phone.

It is a simple method with no technical difficulties. The service is activated through the Laiki eBank website www.laikiebank.com, which offers an analytical step-by-step procedure that customers need to follow.

[Sotos]

THe above is cool. But m-commerce would be even cooler! I wonder when they will introduce that to Cyprus.

The new cash: paying via mobile phone

New Commission guidance on the interpretation of European e-money rules could allow consumers to pay for vending-machine drinks and snacks, buy theatre tickets and pay out other small amounts of money from their "phone purse".

Results of a consultation launched in May 2004 showed that member states had interpreted the 2000 E-Money Directive as imposing restrictions on pre-paid phone cards. This meant that they could only be used to buy services directly related to the phone – such as ring-tones and wallpaper.

Now, the Commission has issued guidance indicating that member states need not classify pre-pay cards as "electronic money" and that the restrictions of the directive need not apply. The Commission will decide on a possible revision of the directive itself later this year.

The change could greatly open the market in ‘m-commerce’ (mobile phone commerce), which is still in its infancy in Europe. Recent strides have also been made by the industry in resolving technical problems which hindered the use of ‘m-commerce’ across different networks.

[tcklim]

Seen some implementations of this around Switzerland..... only with vending machines though. Basically there's a number at the front you key into your phone and couple of seconds later the machine spits out your coke...

Pretty cool the first time you try for the novelty factor, but apart from that.... the huge mark-up is not worth it... toss in some loose change and buy 2.

Coke was charged to my monthly phone bill...

[coredump]

Hellenic Bank has SMS banking for a while. Never used it though, internet banking is enough for me.

[Sotos]

Pretty cool the first time you try for the novelty factor, but apart from that.... the huge mark-up is not worth it... toss in some loose change and buy 2.

It doesn't worth if its that expensive! But if it was about 5-10% markup then it would be great Is it done fast? Or you have to wait a long time to make the payment?