Wells Fargo & Co. plans to announce on Tuesday its entry into the mobile-banking market, with a service that uses the Web browser of cellphones and other mobile devices.
The San Francisco banking company says its Wells Fargo Mobile service, to be available to all of its customers nationwide, will allow them to check balances on a variety of accounts, view transaction histories, and transfer money between eligible Wells accounts, according to a draft of the press release made available to American Banker.
Wells uses software to determine the specifications of the handheld device accessing the service, to match the presentation of the information to the hardware the customer is using.
Wells has said it wants tight integration of banking and payments capabilities. It and Visa U.S.A. Inc. plan to distribute cellphones with contactless payment capabilities to 300 to 500 of their mutual customers by the fourth quarter in a test of the payment technology.
