Category Archives: Mobile Banking

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 investor, ...
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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 ...
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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, Hello Bank! and ...
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Barclays extends cheque imaging pilot

Barclays is giving 1 million customers the ability to deposit cheques remotely by taking photographs with their phones – cheque imaging. Barclays has been piloting the service with a few thousand customers since June, when the UK government decided to push ahead with legislation that lets banks and building societies process cheque images – rather than the physical paper – ...
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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, ...
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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 ...
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Sharp shift to mobile banking means malware prevention needs to become a key consideration

As retail banks restructure to align with the uptake in mobile banking, the issue of mobile application security and malware attack prevention now needs to be brought to the fore to protect consumers. According to the British Bankers’ Association (BBA), digital banking transactions are now worth almost £1 billion a day, with UK mobile and internet banking transactions now being ...
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Barclays mobile banking apps processing £4 billion per month

UK banking customers are moving away from high-street branches and increasingly using mobile banking apps, according to recent research recent by Barclays. A study by the bank found that usage of its mobile banking apps has grown hugely in recent times, with customers accessing the offerings 29 times a second. In contrast, the average customer only visits a physical branch less than ...
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BPCE launch Twitter-based P2P payments

Banque Populaire Caisse d’Epargne (BPCE) has partnered with Twitter to let customers tweet money to each other via a P2P payments service. From October 2014, everyone with a bank card and a Twitter account in France will be able to use the P2P payment service through BPCE’s S-Money unit. Details on how the system will work are unreliable but S-Money’s mobile ...
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Yaap P2P payments via mobile ‘Money’ app

Yaap, the joint-venture between CaixaBank, Banco Santander and Telefónica, has releases Yaap money – a mobile app that facilitates the secure transfer of P2P payments instantaneously between users’ mobile phones. In order to send and receive money, users of the app will not need to know bank details - just the mobile number, Facebook username or Twitter username of the person ...
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