I blogged about SizzleMoney about a week ago, but here's an excerpt from a good article in this morning's American Banker...

Prepaid Account Offers Mobile Banking Service to Immigrants

By Will Hernandez
American Banker | Tuesday, April 7, 2009

Denarii Payments Inc. of Atlanta has developed a mobile phone-linked prepaid product called SizzleMoney that is initially targeting Hispanic immigrants.

People can use the product to send one another money by text message, access funds in their SizzleMoney accounts with a prepaid debit card and make purchases at the point of sale with their phones.

"It's basically mobile cash," said Donald Baggett, Denarii's founder and chief executive officer.

Denarii said SizzleMoney will appeal to immigrants, who often use their mobile phones as their primary method of communication.

The SizzleMoney account features debit cards bearing the logos of the Maestro, Pulse, Star and Cirrus debit networks. The cards can be used to make PIN debit purchases and to make withdrawals at automated teller machines. Customers can upgrade to MasterCard Inc.-branded debit cards.

Central National Bank of Enid, Okla., issues the cards and its Interactive Transaction Services subsidiary processes the transactions.

Continue Reading at American Banker

Will Hernandez is the associate editor of ATM&Debit News.