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Consumers will switch banks to access mobile payments

21 million British consumers say they will switch banks to access mobile payments, as anticipation for new ways to pay builds, according to new research from Zapp. 44% of consumers plan to switch accounts if their current bank was unable to offer mobile payments and had no plans to do so. Of these, a third (33%) say they would do so… Continue reading >>

Banks still top for consumer trust

Consumers trust banks far more than they do companies like Google, Apple and Amazon to protect their card details and personal financial information, according to research by Bizrate Insights. Bizrate Insights, a division of Connexity (formerly Shopzilla), found in a survey of over 6200 online buyers, a considerable lack of trust around credit card and personal information security among even… Continue reading >>

US banks partners Payfone for mobile authentication

Payfone a mobile authentication startup,  is working with US financial institutions to introduce technology that utilises the same security standards applied by wireless operators to identify their customers as they log-in to m-banking apps. The company has partnered with Early Warning, which is owned by Bank of America, BB&T, Capital One, Chase and Wells Fargo and is also a Payfone… Continue reading >>

Lloyds mobile cheque deposit tech

Lloyds Bank is to roll-out mobile cheque deposit technology with a select group of commercial customers. The pilot trial will enable customers to take a photo of the cheque using their mobile phone camera, eliminating the need to go into a branch or physically send on a paper version. Funds, up to a maximum of £2500, are cleared the same day. The… Continue reading >>

Sixdots goes live with multiple banks in Belgium

9 banks representing 80% of the Belgian market can now make use of Sixdots, a mobile wallet service that uses a combination of QR codes and a 6-digit PIN to make P2P payments, in stores and online.   The service is available for both iOS and Android and has been introduced by BNP Paribas Fortis, KBC, ING, Belfius, Fintro, Record Bank, Bpost bank,… Continue reading >>

Mobile no longer an alternative channel

The GSMA has predicted that global smartphones will hit 1.75 billion units by the end of 2014. Mobility has become the hub of computing and connectivity. As smartphone adoption rates grow year after year and broadband penetration becomes a norm in daily life, the banking, commerce and payment sectors are also transitioning through the mobile channel. If financial institutions don’t realize this tectonic shift,… Continue reading >>

Global banks investment in payment technology as top priority

It has been revealed that payment technology is set to be a key area of focus for banks across the globe in 2015 – according to the Ovum ICT Enterprise Insights* program, based on interviews with 6,500 senior IT executives. The shift in payment technology modernisation, brought on by diversification and mobile channels in particular, is a truly global phenomenon. In most instances, less… Continue reading >>

Paym signs HSBC for business users

Paym is set to roll out its mobile payments service for Business Internet Banking subscribers of HSBC. Until now HSBC’s Paym service, which launched in the UK in April this year, has been limited to personal current account holders, but now the bank’s 6000,000 online business customers will also be able to sign up to receive payments direct to their… Continue reading >>

Mobile money momentum

As mobile money transfer services like Pingit and Paym gain traction, how will mobile remittances help drive mobile commerce? With all the focus on mobile payments and wallets, and the success of mobile-based money transfer services like Barclays Pingit and Paym in the UK, the spotlight is being shone on the potential of these account-to-account transfer services to bring about… Continue reading >>

Americans trust banks for mobile wallet

Despite the hype that has accompanied the launch of Apple Pay, less than a third of Americans would consider obtaining a mobile wallet app from Apple, while more than two thirds would take a bank’s offering, according to a survey from Phoenix Marketing International. Among the 4200 US households polled in the wake of Apple Pay’s launch, banks are still… Continue reading >>