Transaction processing company SelectCore (TSX VENTURE: SCG) shares rallied more than 21% Monday after the company announced the launch of its first mobile banking app for its Iridium MasterCard product, a pre-paid open-loop credit card that can be reloaded repeatedly.
The Iridium MasterCard is accepted at over 28.5 million locations worldwide and online. The company's first generation BlackBerry app is now available free of charge to registered Iridium cardholders, and can be downloaded instantly from from the cardholder's online account.
The app allows clients to check their account balance, view recent transaction history, and money-share between other Iridium cardholders in real-time.
SelectCore said it also plans to launch this mobile banking app for iPhone and Android devices.
In addition to the new smart-phone applications, Iridium cardholders are provided with other access tools including live agent support, online and SMS.
Looking forward, the company is looking to develop its mobile strategy even further, including the introdcution of a complete "mobile wallet", that uses near-field communications payment technology.
As of 3:21pm EDT, SelectCore shares were up over 17% to trade at $0.165.