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Dec. 2, 2008

Alltel Wireless says it will be using mFoundry’s extensible mobile wallet platform to create what it calls the Alltel Wallet.

Alltel's new Wallet initially will provide access to a consolidated mobile banking platform, providing bank customers access to a variety of U.S. financial institutions.

mFoundry’s technology, which combines comprehensive mobile banking, mobile payments and mobile commerce capabilities, will provide Alltel the platform to plug in enhanced financial solutions and other advanced functionality from select third-party developers.

mFoundry’s mobile financial services platform is based on Mojax technology. The new mobile platform allows the Alltel Wallet to evolve by offering third-party mobile developers the ability to add modules to the wallet.

It also has pre-built modules for peer-to-peer remittances and other payment services to help developers deploy new features.

The new program will debut early next year. Alltel Wireless recently launched Alltel Mobile Banking, a free service giving customers mobile access to accounts from many leading financial institutions. The Alltel Wallet will provide one-stop access to those financial institutions as well as access to many other payment services.

In May, mFoundry announced a mobile wallet application with Sprint called MyMoneyManager that provides users with access to multiple mobile banking applications, as well as peer-to-peer payments through PayPal.

In Japan, it is estimated that about 50 million people (about half of all cell phone users) already carry devices capable of serving as wallets.

China is following in second position with about 32 million people that use their cell phones to make item purchases or banking transactions.

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Source: Alltel Wireless.