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Mobile banking

News about Mobile banking.

CaixaBank launches HCE mobile payments app

August 28th, 2015

Spain’s CaixaBank has broadened its range of mobile payment services with the launch of CaixaBank Pay, a new app based on host card emulation (HCE) that allows users to make online and in-store payments at… More

620m biometric app downloads by 2020

August 26th, 2015

More than 620m mobile banking apps that support biometrics for customer authentication and transaction verification will be downloaded by 2020, research from Goode Intelligence predicts. “Additionally, almost 160m wearable devices will be benefiting from seamless biometric authentication for accessing banking services on a variety of wearables, including smartwatches and bands,” the company says.

25% of world’s population to use mobile banking in four years

August 3rd, 2015

More than 25% of the world’s population will use mobile banking in the next four years, research from KPMG using data from UBS Evidence Lab reveals, predicting the number of users will double to 1.8bn. “Mobile banking is clearly supplanting all other channels as the main portal between the bank and the consumer,” says KPMG’s David Hodgkinson. “Banks must adapt or die.”

Commonwealth Bank adds loyalty to mobile app

July 30th, 2015

Commonwealth Bank has added a loyalty feature to its mobile banking app that also offers HCE payments, allowing users to store loyalty cards and redeem them at the checkout with their NFC phone or by scanning the loyalty card barcode. The bank is also set to pilot a separate offers app in a shopping centre run by Westfield, ZDNet reports.

Tech firms do “better job” than banks, say 24% of young Brits

July 29th, 2015

More than a fifth (24%) of Britons aged between 18 and 34 believe companies such as Google, Apple and Amazon would do a “better job” of providing financial products and services than banks, with 8% now choosing their bank depending on the type of mobile service it offers, research from price comparison site uSwitch reveals.

Half of UK young adults pay with contactless each month

July 21st, 2015

Nearly half of 25-34 year olds in the UK (44%) use contactless payments in an average month, research from YouGov and payment systems provider ACI Worldwide has revealed. 54% of the same age group are also using mobile banking at least once a month, the survey found.

Barclays to support Zapp ‘Pay by Bank app’ mobile payments

July 7th, 2015

Barclays has become the latest bank to announce its support for Zapp, a mobile payments startup formed by payments infrastructure operator VocaLink that will work via an integration with existing mobile banking apps for online… More

Lloyds Bank authenticates customers with contactless ‘tap to bank’ service

July 6th, 2015

Lloyds Bank is testing a ‘tap to bank’ service that lets its mobile banking app users tap their contactless debit card against their NFC phone to authenticate themselves during the mobile banking registration process. The process replaces… More

“Highly interested” Canadians ready for mobile payments

July 3rd, 2015

Some 14% of Canadian consumers say they are highly interested in making in-store mobile payments and 11% are also interested in using a wearable device such as a smartwatch to do so, research from payment… More

ING adds biometrics to mobile banking app payments

July 3rd, 2015

Users of ING’s mobile banking app in the Netherlands can now use their voice or a fingerprint to authorise payments. “Customers previously could use voice control in the app and could log in with fingerprint recognition,” says the bank. “It is also possible from today to confirm payments in the app with your voice, or fingerprint for iOS devices equipped with Touch ID.”

CUA credit union reports rising interest in redi2PAY HCE mobile payments service

June 24th, 2015

The number of customers using CUA’s redi2PAY HCE mobile payments service more than 35 times per month was about three times higher in March 2015 than it was six months earlier, and the number of… More

$4bn mobile money transfer revenue by 2018

June 24th, 2015

Revenue from mobile money transfer services will hit US$2bn this year, doubling to $4bn by 2018, Juniper Research says, citing Africa as the market leader. “Several African mobile operators are now generating more than 10% of their revenues from mobile money,” it adds. “Safaricom’s M-Pesa service [in Kenya] recorded mobile money revenues of more than $330m in the latest financial year.”

OceanFirst Bank adds Touch ID

June 24th, 2015

OceanFirst Bank is working with digital banking provider Digital Insight to begin offering Touch ID functionality within its mobile banking app. “We believe OceanFirst Bank customers appreciate having a variety of choices for ways to meet their banking needs, and we are pleased to provide the Touch ID option to our mobile banking clients for fast and secure access to their accounts,” says the US bank’s Joseph R Iantosca.

India offers tax break for electronic payments?

June 24th, 2015

Merchants in India accepting electronic payments could be offered a tax rebate, a government proposal suggests. Fees for cash handling could increase, meanwhile, as part of an effort to encourage electronic payments, defined as those done “through means of cards, mobile wallets, mobile apps, new banking, Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT), Immediate Payment Service (IMPS) or other similar means”.

ING to launch HCE in the Netherlands

June 17th, 2015

ING is to launch a mobile payments service based on host card emulation (HCE) in the Netherlands this summer following a final test with a group of the bank’s employees. “ING customers who already use the Mobile Banking app and have a suitable Android NFC smartphone — Android 4.4 KitKat or higher — will be able to make direct contactless mobile payments through the new ING Mobile Payment app after activating it with their mobile PIN,” the bank explains.

Intelligent Environments replaces PINs with emoji passcodes

June 16th, 2015

Software provider Intelligent Environments has launched an emoji-only passcode system that lets consumers log into their bank’s mobile app using four emoji characters instead of traditional PINs. Emoji Passcode has been integrated into Intelligent Environments’ Android digital… More

UAE banks approve mobile wallet project

June 16th, 2015

The UAE Banks Federation, a standards body representing 50 Emirates banks, has cleared its mobile wallet project for launch and is now awaiting final approval from the nation’s central bank following a pre-implementation phase completed in December. The UBF mWallet project represents the financial component of the UAE’s Smart Government initiative and will enable banks to offer P2P, NFC mobile payments and loyalty programs to customers.

Credit union to add Touch ID

June 11th, 2015

Montgomery County Employees Federal Credit Union is working with digital banking provider Digital Insight to add Touch ID to its mobile banking apps. Users will be able to log into their mobile banking, store their fingerprints on their mobile devices and safeguard sensitive financial information using the functionality.

Zapp prepares for UK mobile payments service launch

June 9th, 2015

Zapp, the UK mobile payments startup formed by payments infrastructure operator VocaLink, has confirmed that it will launch its service in the autumn of this year, with NFC in-store payments to follow. The service will… More

Google demonstrates how Android Pay will work

June 2nd, 2015

Google has demonstrated how its Android Pay mobile payments service will work for making in-store and in-app purchases, for payments made through a banking partner mobile app, and how users will be able to pay for items such as a Coca-Cola from a vending machine using just the points stored in a customer loyalty account. More

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