Tuesday it had taken a step toward the long-promised notion of phones replacing credit cards, checks and cash by signing agreements with Wachovia Corp. (NYSE:WB - news) and several other banks.The agreements will allow customers of its Cingular Wireless arm, which is being rebranded as AT&T, and participating banks to manage their accounts and pay bills electronically by using an application on their cell phone.
AT&T said customers could download the software from privately held Firethorn Holdings LLC onto their phones.
Along with Wachovia, U.S. banks such as BancorpSouth Inc. (NYSE:BXS - news), Regions Financial Corp. (NYSE:RF - news) and SunTrust Banks Inc. (NYSE:STI - news) are offering mobile banking to AT&T customers.
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