Mobile Banking Updates - Jan 23

U.S. Bank Launching “Go Mobile” App in Salt Lake and Portland Offering Cardless Purchases Using an iPhone
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."

Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."

YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."

Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."

Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."