Beginning in August, a number of mobile service providers began developing credit card integration plans for smartphones. MasterCard, one of the country’s biggest networks, announced its own application designed to make shopping easier for consumers this week.
The BlackBerry application, called MoneySend, will allow consumers to link to their bank accounts or credit cards, similar to PayPal. Users will be able to complete purchases via the device and manage their finances right from their mobile phones. MasterCard says the application will be similar to a prepaid card because consumers will be able to transfer money to accounts linked to MoneySend.
“We are excited to extend MasterCard MoneySend to the BlackBerry smartphone platform so that we can continue to provide consumers with innovative ways to make their lives easier,” said MasterCard representative Andrew Ong.
Financial analysts expect as more of these applications come out, consumers will be able to gain a better grasp on their credit card debt by managing their money on the go. The decision to create the app came from the success MasterCard had with MoneySend on the iPhone network.