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Nov. 15, 2008

Qualcomm has announced that its subsidiary Firethorn Holdings has upgraded its mobile banking software.

Firethorn will also focus more on broader mobile commerce applications and development tools.

Firethorn's new software version allows financial institutions to offer their customers special promotions and develop custom account interfaces as well.

It also lets customers check loyalty points. That new feature works well for financial institutions, and is planned in the future for merchants, Qualcomm said.

The upgrade is available now.

Company officials said "it's one of many advances Firethorn plans to make as we anticipate the maturing market's needs for more advanced mobile payment capabilities," although no indications were given about what the advanced capabilities were.

Additionally, Firethorn's newer software version is backward-compatible, meaning that banks don't need any upgrades to use it either.

Qualcomm acquired Firethorn Holdings, a banking specialist, for $210 million in June 2007.

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Source: Qualcomm.