Friday, October 16, 2009
Will Focus on Emerging Trends in Retail Banking Self-Service and ATM Security
Diebold showcases latest innovations, presents expert ATM security insights and best practices
NORTH CANTON, Ohio, Oct. 16 /PRNewswire-FirstCall/ -- As new trends arise and complex threats emerge around the world, Diebold, Incorporated (NYSE: DBD) is fully dedicated to developing solutions to help financial institutions strategically meet their most pressing goals while reducing costs, enhancing the user experience and mitigating risks. Thomas W. Swidarski, Diebold president and chief executive officer, will speak to these topics through the perspective of progressive financial institutions around the world in his keynote presentation, "ATM Revolution - Capitalizing on the New Trends in the ATM Industry," at this year's ATM, Debit & Prepaid Forum in Las Vegas, Nev.
"As the ATM environment becomes increasingly complex, financial institutions can enhance operations and deliver greater value across the board through outsourcing their non-core operations. By enlisting experts to manage all aspects of the self-service channel, institutions can realize exceptional value through heightened security and improved quality of products and services for consumers," Swidarski said. "Outsourcing empowers financial institutions to meet consumer demand for the industry's leading technologies, while freeing them to dedicate valuable resources to their primary objective - increasing customer satisfaction."
During the forum, special emphasis will be given to the many facets of ATM security as rapidly escalating threats challenge the global financial services industry. In addition, Diebold's experts will discuss and demonstrate the company's standard-setting innovations, including the recent launches of forward-thinking technologies such as rapid processing, the next generation of deposit automation, and Diebold's mobile banking solution, MobiTransact(TM).
Addressing ATM security, one of the most technologically complex operational challenges today, Diebold will host industry authority Dr. Peter Tippett, vice president, technology and innovation, Verizon Business, and creator of the first commercial anti-virus product. In his address, "Can you Afford to Ignore Risk? Emerging Threats in the ATM Industry," Tippett will discuss recent ATM crime investigations to provide best practices in compliance management and risk planning, and help attendees identify vulnerabilities in their own networks.
Diebold industry experts will also exhibit ways to improve a financial institution's security environment to help combat identity theft and credential management, internal fraud and regulatory compliance, and card skimming and PIN interception.
Booth demonstrations also will include innovations in deposit automation. Diebold's rapid processing technology enables note and check deposits executed in a single transaction. Featuring the simultaneous operation of two modules at the ATM, this capability greatly increases transaction speed resulting in shorter wait times at the ATM.
Diebold will present MobiTransact, its mobile banking technology that will empower financial institutions to build customer relationships by enabling timely interactions with customers through their cell phone. And, with MobiTransact, Diebold will introduce improvements in security, specifically addressing the highly vulnerable area of skimming. Diebold's mobile banking solution integrates self-service channels, improves transaction security and is available as a managed service.
For more information about Diebold, visit booth #211 on the show floor, or visit www.diebold.com.
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at www.diebold.com or visit www.diebold.com/150 to learn more about Diebold's 150-year history.
SOURCE Diebold, Incorporated
MasterCard Introduces New Online, Interactive Financial Management Tool to Help Debit Cardholders Track Spending
Security Service FCU First to Offer MasterCard Money Manager™, Enabling Consumers to Easily and Efficiently Budget and Monitor Debit Card Spend
Purchase, NY, October 15, 2009 - MasterCard Worldwide today announced the launch of MasterCard Money Manager™, a new, interactive financial management tool that enables MasterCard cardholders to quickly and efficiently monitor debit card spending for themselves and members of their household. Using the web-based tool, consumers have the ability to review signature and PIN-based MasterCard transactions by merchant category, and create customized categories, making it easy to identify spending patterns and compare actual spend to an allocated budget.
MasterCard Money Manager provides greater control to MasterCard cardholders at a time when consumers are seeking ways to better manage spending. According to MasterCard research, 43 percent of consumers prefer debit to other payment methods because of its ability to provide greater financial control and help them spend responsibly.
Security Service Federal Credit Union (Security Service FCU) is the first financial institution to offer MasterCard Money Manager to its debit customers.
“MasterCard Money Manager provides our members with a simple and convenient way to create a budget and then track how and where they are spending,” said Keith Sultemeier, executive vice president and chief financial officer, Security Service FCU. “Especially in today’s economic environment and as we approach the start of the holiday shopping season, we’re excited to be able to offer our members more control and greater financial management capabilities simply by using their debit card.”
MasterCard Money Manager simplifies record keeping and eliminates the data entry that most budgeting programs require. Users can track household spending on multiple cards daily, monthly or over time and have the ability to sort transactions by date, merchant category, merchant location, card number and name.
“As consumers increasingly seek greater control and visibility into their spending, MasterCard Money Manager provides an intuitive and simple to use way to manage and assess an individual or household budget,” said Patricia Preston, senior vice president, U.S. Debit Product Management and Development, MasterCard Worldwide. “The financial management tool is the latest MasterCard innovation designed to help financial institutions offer superior products that add value and make life easier for their customers.”
About Security Service Federal Credit Union
Security Service Federal Credit Union, headquartered in San Antonio, Texas was founded in 1956 and has grown to become the ninth largest credit union in the nation and the largest in Texas with over $5 billion in assets and more than 700,000 members in Texas, Colorado and around the world. There are 36 Texas locations and 14 locations in Colorado. To find out more about Security Service FCU’s products and services visit www.ssfcu.org or call 1-888-415-7878.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
Frankfurt, Germany, Oct. 16, 2009 -- The European Payments Council, which oversees payments for the European banking industry, has announced plans to launch the SEPA Core Direct Debit Scheme and the SEPA Business to Business Direct Debit Scheme on Nov. 2. The Direct Debit services enable card users in Europe to make and receive domestic and cross-border euro direct debit payments throughout the 32 SEPA countries — the 27 EU member states, Iceland, Liechtenstein, Norway, Switzerland and Monaco.
Banks throughout the Single Euro Payments Area, known simply as SEPA, will be required by the EU regulation on cross-border payments to comply with the Core Direct Debit by Nov. 1, 2010. But banks in SEPA are already making progress, according to EPC. Thus far, just more than 2,600 banks representing 70 percent of SEPA payment volumes have signed up for the new schemes and are ready to roll out SEPA Direct Debit services by Nov. 2, 2009. Of those 2,600 banks, approximately 2,300 are offering SDD Core and SDD B2B services.
Gerard Hartsink, chairman of EPC, says the schemes have been part of Europe’s payment plans since 2002.
The implementation of SEPA payment services based on global ISO standards offers greater efficiencies for businesses and public administrations, while consumers can rely on a single set of euro payment instruments that cover 32 countries: one bank account, one bank card, one SEPA credit transfer and one SEPA direct debit.
But it goes beyond just payments benefits, says the European Commission. The commission expects legal and technical harmonies that have resulted from SEPA to also facilitate the dematerialization of business processes by replacing paper-based procedures with standardized electronic solutions such as e-invoicing.
The introduction of the SEPA Direct Debit Schemes requires a uniform EU-wide legal framework for payments; the launch date aligns with the Nov. 1, 2009, deadline for EU member states to transpose the Payment Services Directive into national law.
“Moving forward, the focus must be on accelerating migration to the new euro payment instruments,” Gerard said. “Today, more than 4,500 banks offer SEPA credit transfer services. Eighteen months after the launch of the SCT, 4.4 percent of all euro credit transfers in the EU are actually based on the SCT scheme. The current rate of SEPA market uptake is in line with expectations considering the average timelines required for the rollout of other major EU integration initiatives.”
Gerard adds that the European Commission, the European Central Bank and EU governments should implement SEPA-communication campaigns similar to those spearheaded with the euro was first introduced so that consumers fully understand what SEPA is. He also says that public administrations, which account for up to 20 percent of e-payments in the euro area, need to speed up their SEPA schemes implementation.
Source: Company press release.
Constantine Cannon LLP is pleased to announce the launch of its new blog, Antitrust Today.
As one of the most innovative law firms specializing in antitrust, Constantine Cannon has made its mark with insightful antitrust analysis, such as in its landmark debit card litigation against Visa and MasterCard, which helped reveal abuses and lead to reform of that industry. Constantine Cannon will use that perspective in its new blog to highlight the antitrust issues that arise as competition - and its enforcement - evolves.
Antitrust Today will examine developments in antitrust and competition law both in the United States and abroad. We look forward to engaging in a dialogue about these issues, especially as we enter a new era of antitrust regulation, particularly in the United States and the European Union. Comments and requests for guest blogging are welcome.
Recent topics we've explored include:
To subscribe to our blog, click here.
Disclaimer: Content on the blog may be considered Attorney Advertising under the applicable rules of some jurisdictions. Prior results do not guarantee a similar outcome.
Istanbul, Oct. 16, 2009 -- As part of a strategy to build closer relationships with financial institutions in the region, Diebold has formed a direct sales operation in Turkey. The leading global provider of automated teller machines (ATMs) and related services will serve its growing client base from offices based in Istanbul, providing customers with a direct link to its innovative products and services. Previously, Diebold supplied customers in the region through a distributor.
The company's operation in Turkey will be led by a local team, with the additional support and commitment of the company's regional operations in Europe, the Middle East and Africa (EMEA). Diebold is expanding this team with the recruitment of sales staff to further develop customer and partner relationships. Diebold will supply products directly to customers and will also work with trusted and certified local service partners, whose responsibilities will include installation, warranty and maintenance services.
Diebold is also working to certify its latest software portfolio solution for the Turkish market. Agilis EmPower® software allows financial institutions to make changes to their ATM functions almost immediately, without the need to employ specialized programming skills, saving both time and money. The software provides a powerful tool for bank networks to customize their ATMs and respond to customer needs. In addition, Diebold is piloting and certifying its latest products and services in the region to assess customer requirements.
"The ATM market in Turkey is one of the fastest growing in the EMEA region," said Danilo Rivalta, vice president and general manager, Diebold EMEA - Southern and Central Area. "This market has increased by 20 percent during the last year and is expected to grow at the same level during the coming year. We believe that having a strong local operation will help us better serve the industry and improve our competitive position in the region."
Rivalta continued, "We also know that many banks in Turkey are currently replacing their old equipment and believe that there are a number of compelling reasons for customers to choose Diebold as their new alternative. These range from innovative products such as our cash recycling solution and our Agilis EmPower® software, to unique security features and our outsourcing expertise."
Diebold is showcasing its latest product offering in Turkey today( )during a special event held for customers in Istanbul. The 'Branch Transformation' event will include guest speakers from Retail Banking Research, Microsoft, Banksoft and BNL-BNPP and will discuss the way in which technology is enabling branch efficiency with case study examples.
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at www.diebold.com , or visit www.diebold.com/150 to learn more about Diebold's 150-year history.
Source: Company press release.
Shoppers Can Give the Gift of Choice, Shop Online without a Bank Account or Credit Card
MUMBAI, October 16, 2009 – Just in time for the festival season, a new gift card and first-of-its-kind virtual card from Central Bank of India and Rêv are opening up a world of giving possibilities for holiday shoppers. With the Central Bank of India MasterCard® Gift Card, shoppers can give the gift of choice to loved ones. And, consumers can shop and spend online with the Rêv® MasterCard® Virtual Card, the first virtual card to bring online shopping to Indian consumers who may not have a bank account or credit card.
Recipients can redeem Central Bank of India MasterCard Gift Cards to buy virtually anything they want, any place they choose. In addition to retail locations, recipients can also use them to make purchases online and over the phone anywhere MasterCard is accepted in India.
The Rêv MasterCard Virtual Card is a prepaid MasterCard number that gives shoppers a secure way to buy online, over the phone or by mail order wherever MasterCard is accepted without requiring a bank account or credit card.
“As gift cards and online shopping grow in popularity, Central Bank of India is committed to working with partners to make sure everyone can enjoy them,” said Mr. R. Thiagarajan, Chief Manager Centralcard, Central Bank of India.
According to research firm comScore Inc., India’s Internet audience saw the strongest growth in the Asia-Pacific region, reaching 28 million Internet users in April 2008, an increase of 27 percent from the previous year.¹ And the growth of gift cards also looks set to follow international trends – the U.S. gift card market alone is estimated to be worth $5 billion by Mercator Advisory Group.²
“We’re proud to join forces with Central Bank of India to bring consumers unlimited possibilities for giving and shopping this holiday season,” said Simon Hilton, CEO, Rêv Asia Pacific.
Starting today, consumers across India can enjoy the benefits of giving with a Central Bank of India MasterCard Gift Card. Recipients can also monitor the balance available on their cards from their mobile phones by registering their phone number at www.centralbankgiftcard.co.in.
Consumers can shop and spend online with the purchase of the Rêv MasterCard Virtual Card beginning next week. After purchasing the card, consumers will receive a voucher number and PIN code via mobile phone or on a printed receipt, and will use that information to register and activate the card online at www.revvirtualcard.co.in. Consumers can then access their 16-digit card number on a secure web page and receive the card’s expiry date and security details via email or SMS.
Central Bank of India issues the Central Bank of India MasterCard Gift Card and the Rêv MasterCard Virtual Card.
Pricing and AvailabilityThe Central Bank of India MasterCard Gift Card is immediately available from select Central Bank of India branches for Rs100 plus load value.* For more information and to find participating branch locations, please visit www.centralbankgiftcard.co.in.
The Rêv MasterCard Virtual Card is available for Rs30 plus load value and can be purchased online next week and through participating retail locations in the near future.† To purchase a card online, learn more or find participating retailers, please visit www.revvirtualcard.co.in.
* Valid identification required
† Valid identification, Indian mobile phone number and email address required
About Central Bank of IndiaEstablished in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. The establishment of the Bank was the ultimate realisation of the dream of Sir Sorabji Pochkhanawala, founder of the Bank. Sir Pherozesha Mehta was the first Chairman of a truly 'Swadeshi Bank'. In fact, such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central Bank of India as the 'property of the nation and the country's asset'. He also added that 'Central Bank of India lives on people's faith and regards itself as the people's own bank'.
Among the Public Sector Banks, Central Bank of India can be truly described as an All India Bank, due to distribution of its large network in 27 out of 28 States as also in 4 out of 7 Union Territories in India. Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 3542 branches and 218 extension counters at various centres throughout the length and breadth of the country. In view of its large network of branches as also number of savings and other innovative services offered, the total customer base of the Bank at over 25 million account holders is one of the largest in the banking industry.
About Rêv IndiaRêv India is a subsidiary of Rêv Asia Pacific, an innovative payment solutions company who designs, markets and distributes a range of prepaid card products designed to meet the needs of consumers underserved by traditional financial services. These products include reloadable cards for everyday use, mobile payments, cards for domestic and international remittance, gift cards and virtual cards for shopping online. Rêv Asia Pacific forms part of Rêv Worldwide (www.revworldwide.com), the first global network of payment companies created to innovate end-to-end payment solutions that allow underserved consumers around the world to participate in today’s mainstream economy. Rêv Worldwide partners with financial institutions, telecommunications companies, merchants and government entities to serve consumers through card payments and payment processing, reload networks, mobile payments, loyalty programs, money transfers and bill payment. The Rêv Worldwide companies are members of the MPOWER Ventures investment portfolio.
Media ContactsCentral Bank of India
Mr. R Thiagarajan
Rêv Asia Pacific
Meredith DeSpain Kelsey
- 300 key people from the industry cast their vote at the “Prepaid Awards” in London
- paysafecard group gets rewarded for international development over the past 12 months
London/Vienna 16th October 2009 – paysafecard group, Europe’s leading online payment method provider, has been awarded for being the “Leading Prepaid Organisation 2009” at the annual Prepaid Awards in London this week.
Over 300 key people from across the prepaid industry attended the ceremony which took place in London on Tuesday, October 13th.
After the independent judges from eight European countries, all experts from the industry, had created a shortlist for each of the ten categories, the guests were asked to vote for the winners.
“It is a great honour to receive this award,” says Michael Mueller, CEO of paysafecard group. “We see it as an approval for our hard work and as recognition of our pan-European and worldwide development especially over the past 12 months.”
With the prepaid voucher paysafecard, the company created a safe and easy payment method for purchases on the Internet. The vouchers can be bought at 230,000 outlets in more than 20 countries worldwide. By simply entering the 16 digit pin code at one of the 3,000 web-shops that accept the vouchers as a payment method, customers can buy their goods quickly and securely within seconds.
About paysafecard: Over the past nine years, paysafecard have established themselves as Europe’s favourite safe and easy-to-use alternative prepaid payment method for e-commerce. It is available in more than 20 countries worldwide. The smart payment solution is designed for users who don’t have a credit or debit card or who don’t want to use their credit card for online purchases and other micro payments on the Internet. Users simply authorize a payment by entering a PIN code, similar to the system used with prepaid phone cards. Thousands of e-businesses are benefiting from new customers by offering this safe and uncomplicated payment solution. paysafecard is available in £10, £25, £50 and £75 e-vouchers at more than 230,000 outlets across Europe and South America. In March 2009 the group was awarded ‘Best Prepaid Company outside the USA’ by the global prepaid industry publication Paybefore. For more information, please visit www.paysafecard.com
Kristina Peterson, of DOW JONES NEWSWIRES reports on a new "industry backed" (limited) study, released yesterday suggesting that Prepaid Cards are cheaper to use than checking accounts.
I am not buying into the study as it represents a prime example of how data and statistics can be manipulated to say whatever you want the data to say.
In this case, because it is an "industry backed" study, they throw out the cards with highest rates and then compare figures against "low balance" checking accounts...in order to come to the conclusion the PrePaid Card "Industry" offers advantages over checking accounts.
I don't buy it, but...here's a clip in order to provide you with your own determination...
WASHINGTON -(Dow Jones)- An industry-backed study of prepaid card fees released Thursday argues that reloadable cards are a cheaper alternative to traditional low-balance bank checking accounts.
Pre-paid cards have come under scrutiny in Congress as it considers creating an agency to monitor consumer financial protection.
The study limits its focus to comparing the costs of four prepaid card programs to the five biggest bank checking account programs. A consumer with a low-balance checking account would expect to pay $200 to $350 annually, which includes the costs of overdraft charges, ATM fees and minimum account balances, according to the survey by management advisory firm Bretton Woods, Inc.
By contrast, a prepaid card user may pay between $108 and $320. The study was commissioned by the Network Branded Prepaid Card Association, an industry group.
In 2007, users made $4.8 billion in transactions using prepaid cards, according to The Nilson Report.
Several cards not included in the study show much higher fees. The Millennium Advantage Prepaid MasterCard, a product of Mastercard Inc. (MA), charges up to $ 99 for an activation fee. The MiCash Master Card charges $8.95 for each international remittance, $4 to make a bank teller withdrawal and $1 to check a balance. Flores said such cards do exist and they must disclose such fees " clearly and prominently" to consumers.
But Michelle Jun, a staff attorney with Consumers Union, said clear, obvious disclosure of fees is rare. She noted it can be hard to effectively evaluate prepaid cards' cost effectiveness because of the wide variation in their fee structures. "You can't even do close to an apples to apples comparison," Jun said.
U.S. financial transactions—checks, debit, credit and automatic transactions—will top 100 billion by the end of the year as consumer spending has stagnated, according to Moebs Services, a research firm.
Moebs, which crunches Federal Reserve data, says paper checks usage has dropped from 85 percent of all transactions to 25 percent. Credit card usage is down, but debit transactions are up.
Here’s the breakdown of transactions:
- Debit card transactions: 33 percent
- Paper checks: 24 percent
- Credit card transactions: 23 percent
- Automatic Payments (ACH): 20 percent
Here's the Press Release:
LAKE BLUFF, Ill.-- For the first time in US history, the number of checks and electronic
transactions for debit cards, credit cards and automatic payments will exceed
100 billion by the end of 2009, according to Moebs Services, an economic
research firm in Lake Bluff, Ill. This volume represents all transactions from
consumers and businesses and is based on research and projections conducted by
Moebs $ervices using information from the Federal Reserve for 1979 to 2006.
"Based on current transactions, our projections show that debit cards and
automatic payments are taking over at an increasingly rapid rate from the
traditional checking account for most Americans," says Mike Moebs, CEO. "Over
the past 30 years, paper check usage has dropped from 85 percent of all
transactions to less than 25 percent this year." Credit card usage while
increasing in an absolute sense is falling as a percentage of total transactions
after rising for 25 years, added Moebs.
According to Moebs Services, transactions in 2009 will break down as follows:
* Debit card transactions, 33 percent
* Paper checks, 24 percent
* Credit card transactions, 23 percent
* Automatic Payments (ACH), 20 percent
Type of 100B Transactions in 2009:
Debit Card Transactions 33%
Paper Checks 24%
Credit Card Transactions 23%
ACH (automatic payments) 20%
"What is noteworthy about the projected 100 billion transactions is that they do
not represent an increase in US consumer spending, which began declining in 2008
and is still not back on track as we approach year-end," said Moebs. "This
research indicates that consumers are doing significantly more transactions for
significantly fewer dollars than in the past. This may be due to easy electronic
payment methods replacing cash."
Implications for Financial Institutions and Consumers
Moebs believes there are four implications for financial institutions and
* Financial institutions will see reduced overdraft revenue as consumers use
fewer paper checks and opt out of overdrafts for their debit card accounts.
* Consumers` reliance on electronic payments systems for goods and services will
require improved online security to prevent fraud and financial institution
* Consumers will require faster, more frequent, and more complete and
transparent communications from financial institutions in order to manage the
volume of their transactions and avoid frequent errors.
* Automated systems seamlessly process transactions in real time will benefit
both the customer and financial institutions. Institutions which accelerate
their use of such technologies will enjoy dramatically reduced transaction unit
"Our research suggests banks, credit unions, brokerage and investment houses
should accelerate their planning for electronic payment use because we believe
there will be implications to the bottom line of financial institutions in
pricing, fee structure and service delivery," concluded Moebs.
The Federal Reserve studies on the payment system have acted as the frame work
for the analysis and projections by Moebs $ervices along with proprietary data
of Moebs $ervices and other secondary sources.
Photos/Multimedia Gallery Available:
For Moebs Services
Kim Kellogg, 510-635-4150
Identity theft and online fraud are likely to harm e-business prospects in the long run, warn experts, who are asking legislators to strengthen laws against cyber crime.
The study is slated for publication in the International Journal of Business Governance and Ethics.
Susan Sproule and Norm Archer of McMaster University, Ontario, who conducted the study, say identity theft and fraud are an increasing concern for consumers who interact with online businesses routinely.
"These findings are (also) of concern to businesses and governments," Sproule says, "since, if consumers are wary to shop online, the productivity benefits of e-business will not be realized."
Nearly 10 percent people have ceased online banking, or have kept it to a minimum because of fraud worries. (Look for that number to grow.) Surveys show that 41% of US consumers will not bank online due to security fears. Recent events have resulted in some very bad publicity exposing the lack of security in the online banking industry.
FBI Director Robert S. Mueller has recently "sworn off" online banking after coming very close to becoming a phishing victim.
- Security experts warn that the only way to protect yourself against the exponentially growing threat of online banking malware is to use a separate machine for online banking than the one used for browsing.
- Two security experts warn consumers not to use Windows for online banking, yet 93% of all Internet users have Windows.
The study is slated for publication in the International Journal of Business Governance and Ethics.
SMS-based microfinance system unveiled
Finextra is reporting that a new system that claims to let microfinance institutions run their entire operations via mobile phones and a single laptop has been unveiled.
The FrontlineSMS:Credit system combines SMS-aggregating software and mobile commerce offerings to let MFIs deliver and track loans via handsets.
It is based on FrontlineSMS - free, open source software that turns a laptop and mobile phone into a central communications hub. Once installed, the program taps the GSM wireless telephone network to enable users to send and receive text messages with groups of people through mobile phones.
Continue Reading at Finextra