Mint introduces mobile payment facility

Credit card provider Mint has announced that it is launching an initiative whereby credit card holders can view their balance, their latest transactions and pay their bill via text message.

The system functions by sending customers a text message which coincides with the issue of their monthly statement, informing them of the minimum required payment and their existing balance.

Upon receiving this, customers can reply to Mint for free, saying how much they would like to pay. The provider will then reply to confirm the amount, which the customer verifies.

Security on the system is ensured, Mint claims, as each text message will contain a code word which has been previously agreed by the customer and the company will only accept instructions from the phone number registered on the cardholder’s account.

Jerry Toher, managing director of Mint, said: “Given the fast pace of modern life it seemed important for Mint to find a clever way for people’s money to work around them rather than the other way round.

“By enabling people to simply send a text to get their balance and make a payment at any time of the day, our customers can manage their money easily, just like they would if they were arranging a night out with friends.”

The scheme will prove welcome to consumers, according to the credit card provider, as 37 per cent of Brits say that the arrival of bill is a hassle and 27 per cent say that they are too busy to pay them using traditional methods.

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