Credit card issuer First Bankcard recently updated its mobile application, providing quicker access to accounts via a four-digit PIN, with frequency of use increasing following the change.
Banks and financial services
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Bringing contactless mobile payments to bricks-and-mortar stores continues to be a challenging process plagued with technology difficulties, inexperienced store associates and an evolving landscape.
NEW YORK – A Capital One executive at the Mcommerce Summit: State of Mobile Commerce 2015 predicted a mass shift to Apple Pay this year and the decline of magnetic stripe payments as more consumers carry their phones on their persons at all times.
With PayPal’s mobile payments transactions volume increasing 40 percent year-over-year, the business is testing NFC payments prior to its imminent split from eBay, executives revealed this week during the ecommerce leader’s first quarter earnings call.
Discover takes mobile management for credit cards to a new level with Freeze It, a tool enabling cardholders to instantly stop purchases on their account from their smartphone when a card is misplaced and just as easily reinstate purchasing once it is found.
Wells Fargo & Co. has added a Spanish-language option to its mobile banking application, building on the financial institution’s introduction of Spanish Text Banking last year, as it seeks to address this demographic’s close relationship with their smartphones.
American Express’ new far-reaching coalition loyalty program featuring brands such as Macy’s and ExxonMobil is a prime example of how mobile is making loyalty bigger and better by making it easier for members to earn rewards from one merchant in real-time and then immediately apply them to a purchase from another.
Marketers have been missing a potentially lucrative and viable opportunity to target the emerging demographic of consumers using mobile devices for financial services and payments, suggesting that these users must be understood more fully so that banks and financial institutions can garner more clients, according to a report from Phoenix Marketing International.
NEW YORK – A Citi executive at the 2015 Mobile Marketing Association Forum New York claimed that geo-fencing specific areas to alert consumers of potential rewards gained when using a Citi credit card is an optimal solution, suggesting that location-based targeting is a hot topic for financial marketers.
In a reflection of the increasing frequency with which millennials leverage their mobile devices to make small payments to one another, Facebook is bringing person-to-person payments to its Messenger application.