March 27, 2009 - 8:07am
Denarii Payments, Inc. jointly with Central National Bank of Enid has just launched SizzleMoney™, a unique mobile phone and prepaid card product that provides access to money, payment services and payroll distribution through an SMS-based service.
SizzleMoney allows purchasing goods through mobile phones simply using a short SMS. For example to pay for a meal at Pete's Burger Shack, the customer can use an SMS short code and say, "Pay 7.85 to 508 987-65432". The last number is Pete's Burger Shack's mobile alias, which is a computer generated secure number. Then the text message is sent to the receiver, Pete's Burger Shack in this case, confirming that the bill has been paid and the amount is transferred from the customer's SizzleMoney account to the merchant's SizzleMoney account.
Moreover, SizzleMoney pin card is branded with Maestro, Pulse, Star and Cirrus, which allows using it for making purchases at most merchants who have PIN pads or for getting cash at ATM. The card can also be upgraded to a personalized MasterCard®. SizzleMoney also gives an opportunity to share money with a person who is or is not a SizzleMoney customer and who is or is not in the country by using the built-in remittance functionality of the program.
The company plans to expand its business with the help of iSizzle Representatives who were described as neighborhood-based young adults. The iSizzle Representatives will be purchasing SizzleMoney kits at a wholesale price and selling them in their neighborhood or on college campuses.
SizzleMoney allows purchasing goods through mobile phones simply using a short SMS. For example to pay for a meal at Pete's Burger Shack, the customer can use an SMS short code and say, "Pay 7.85 to 508 987-65432". The last number is Pete's Burger Shack's mobile alias, which is a computer generated secure number. Then the text message is sent to the receiver, Pete's Burger Shack in this case, confirming that the bill has been paid and the amount is transferred from the customer's SizzleMoney account to the merchant's SizzleMoney account.
Moreover, SizzleMoney pin card is branded with Maestro, Pulse, Star and Cirrus, which allows using it for making purchases at most merchants who have PIN pads or for getting cash at ATM. The card can also be upgraded to a personalized MasterCard®. SizzleMoney also gives an opportunity to share money with a person who is or is not a SizzleMoney customer and who is or is not in the country by using the built-in remittance functionality of the program.
The company plans to expand its business with the help of iSizzle Representatives who were described as neighborhood-based young adults. The iSizzle Representatives will be purchasing SizzleMoney kits at a wholesale price and selling them in their neighborhood or on college campuses.