Verizon Backs Android
"A year after Google introduced its Android operating system on T-Mobile, the smallest of the major wireless carriers in the United States, it announced a deal to offer handsets with Verizon Wireless, the nation’s largest carrier. The carrier said Tuesday it expects to introduce two Android phones this year. It didn’t name the manufacturers, but one is expected to be made by Motorola. In addition, Verizon and Google said they would work together along with manufacturers to design handsets specifically for Verizon’s network."
Will Bank of America Propel Mobile Deposit to Mainstream?
"Bank of America Corp. is planning to test a service that would enable customers to deposit checks electronically with mobile phones, a move that could transform a niche application into a mainstream offering. B of A is not the first to offer mobile remote capture to consumers, but when the anticipated test kicks off this year it will almost certainly be the biggest, and that kind of market clout could prompt other banks to follow suit, according to analysts."
Mobile Wallet: Can your phone replace your wallet?
"Whether scanning a cell phone to purchase a bullet train ticket in Japan or buying cattle in sub-Saharan Africa, the ubiquity of mobile phones is revolutionizing traditional banking and commerce. Gartner estimates by the end of 2009, 74.4 million people will use mobile devices to purchase goods and services worldwide, and will double by the end of 2012 . DoCoMo's Japanese consumers have been buying mass transit tickets and vending machine goods via cell phones for ten years."
Amazon launches mobile payment service
"Amazon Payments today launched a new service that brings the company's payment processing tools to mobile devices. Amazon Mobile Payments Service (MPS) includes a set of APIs (application programming interfaces) that allow mobile developers and merchants to provide payment options to their customers within mobile Web sites and applications--including the convenience of Amazon's 1-Click checkout system."
The Mobile Payment Conundrums: To Chip, To Store, To Bank?
"The payment strategy struggles for Mobile-Commerce continue, with retail IT execs seeing the phone as a future “Get Out Of Interchange Jail Free” card in an elaborate game of Card Brand Payment Monopoly. Some see future secure chip-integrated phones as the answer, a way that moves payments away from Visa and MasterCard and permits a secure way to tap directly into a consumer’s bank account."
Exclusive: Dell’s Android phone is coming to the U.S.
"Remember the Dell Mini 3i, Dell’s China-only Android phone? Well it’s not China-only anymore. Rumor has it that Dell will bring the Mini 3i to the U.S. in the next few months to compete with other Android phones coming down the pike from HTC, Samsung, and Motorola. The phone, presumably still in its Chinese trade dress, felt “cheap and plasticky, like the Pre,” according our tipster. He believes it will be upgraded for the American market."
Eye on Opportunities in Expedited Bill Pay And Mobile Banking
"Two research reports released on Wednesday point up emerging opportunities in mobile banking and same-day bill payments, particularly for financial institutions. Banks and billers alike will have to be careful how they price so-called expedited bill payments, or those electronic payments that post with billers on the same day. These 11th-hour payments, which consumers typically make to avoid stiff late fees, now carry an average fee to the consumer of $8.18, according to Pleasanton, Calif.-based Javelin Strategy & Research, which released its 2009 Expedite Payments Forecast report."
Citi the first to launch mobile banking functionality in Spanish
"Citibank announced the launch of Citi Mobile en Espanol that allows customers with Spanish language preferences bank in this language from their smartphones. Customers can manage their accounts, pay bills, locate Citibank branches and more - all from the convenience of their cell phones. Citibank is the first major U.S. bank to offer mobile banking in Spanish."
It's safe to use your phone for banking, experts say
"When I'm out shopping, I often check my account balances with my cell phone to avoid possible overdrafts. I access my account information through my phone's Web browser or send a text message to my account to get my balance. Like many people, I have become so accustomed to using my cell phone for just about everything that I didn't think about any security risks linked to mobile banking. But it got me wondering: Am I putting my financial security at risk by accessing my banking information with my phone?"
Subscribe to:
Post Comments (Atom)
1 comment:
This comment is for the article titled, "Mobile Wallet: Can your phone replace your wallet?".
When it comes to the international aspects of mobile banking, or banking in general, we are still a ways off. From my own experience of traveling abroad for the last 15 years, I've found that just banking in general has gotten worse over the last 5 years because some countries have developed their Visa/Debit bankcards in a different direction. For example, in the country of Romania five years ago had a banking system based off of what we have in the USA. US citizens could use their bank cards perfectly fine at ATMs and shops that accepted Visa/Debit cards. Nowandays, Romania has changed their banking system completely (most likely done when they changed their currency from ROL to RON) and now require PIN numbers to be entered with Visa and/or Debit purchases that are incompatible with our US cards. Luckily, the ATMs there still accept the cards to withdraw money.
On the mobile phone side of things MIT/Stanford Venture Labs didn't mention that mobile phone networks in other countries use different network technologies. This fact alone would make *almost* any phone you take abroad useless for any sort of function, including calling. A large portion of the world uses a technology for cell phones called GSM. Some carriers in the USA have this available, but it's not as popular as the rest of the world has made it. A GSM phone purchased in the USA will work abroad, but the extra fees from being out of country are still too high to make them a viable option.
All these facts make me believe we're at least 10+ years away from a totally seamless international system of banking.
Post a Comment