Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Monday, September 19, 2005

New Service Combines Cell Phone with Prepaid Credit Card

A new payment system combines the safety and convenience of a prepaid credit card with your cell phone. The new MobileLime system works with any cell phone. You basically register @ the MobileLime website, then you fill your account with cash (for prepaid use) or you can link your account to an existing standard credit card. At this point you are ready to shop. When you are ready to pay for whatever you're buying, you call up MobileLime and enter your 4 digit PIN number. You then enter the store's location code to complete the cell phone part of the transaction. Your payment is complete only after you give the cashier the last 4 digits of your cell phone number.

Will MobileLime take off? Well, it seems a bit cumbersome to me, but the system has some clear advantage that include security (you don't have to give anyone your credit card number) and MobileLime constantly has coupons/discounts available that you can use to save money on your shopping sprees. But some have been reporting bugs in the system like dropped calls and store employees who don't know exactly how the system works (pay with your cell phone? Excuse me?) Hopefully the kinks will get ironed out soon, as this system could help to reduce the crimes associated with credit card use and employee theft. Best wishes to MobileLime!

For more information, point your web browser to www.MobileLime.com.


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