US use of mobile banking on the rise, Fed report says
American consumers are becoming increasingly comfortable carrying out basic banking transactions on their mobile, according to a Federal Reserve Board report released on Thursday.
American consumers are becoming increasingly comfortable carrying out basic banking transactions on their mobile, according to a Federal Reserve Board report released on Thursday.
The percentage of money transfers sent from mobile phones more than doubled in the 12 months to January 2015, according to new research from remittance specialist Azimo.
The number of active bitcoin users will reach 4.7 million by the end of 2019. However, usage will be continue to be dominated by exchange trading, with retail adoption largely restricted to relatively niche demographics.
Pressure to close bank branches and digitise all functions means that major financial institutions are putting customer data at risk in order to save money.
As a payment method, cheques are on the way out in Australia, with usage declining by 14% last year as card payments and direct debits gained traction.
Bitcoin has been heralded as a fee-free alternative to the cash-based remittance market that could help the world’s low paid overseas workers to send money home. Its volatility, though, could shut them out.
Fraudulent accounts and credit cards are a huge problem for banks, but fraudsters can trip themselves up by seeming too familiar with the sign-up process.
Virtual Currency Systems (VCS) are flawed and unstable, and could present real problems to established financial systems if they continue to grow in popularity, says a new report by the European Central Bank.
Operators in Nigeria’s e-commerce sector are bemoaning the lack of local investment into their businesses, according to a Financial Vanguard investigation.
As technology continues to revolutionise the payment landscape, have visions of a cardless future have been rebuffed and replaced with “transactional flexibility”?