First Data, mFoundry to collect on mobile banking

E-commerce giant First Data is teaming with mobile application developer mFoundry to offer mobile banking and payment services to wireless users.
The effort will couple mFoundry’s technology with First Data’s network of more than 5,000 financial institutions to allow subscribers to manage their accounts and make payments with their phones. The companies said they will work together to pursue near-field payment solutions as operators and retailers bring such offerings to market.
“First Data is a leader in processing and payments, and will be a key partner for mFoundry moving forward,” said mFoundry CEO Drew Sievers. “They will help us build the critical bridge between mobile banking and mobile payments solutions around the world.”
A San Francisco-area startup, mFoundry is gaining attention in the early days of mobile banking, much like its rival Obopay Inc. The company in April launched its Spotlight platform, a white-label offering for financial institutions, and mFoundry has struck alliances with Sprint Nextel Corp. and Verizon Wireless.