Following a soft launch last fall, Bank of the West is rolling out scan-to-pay bill payment capabilities in its mobile application for customers at its more-than 650 locations, promising users can add a bill in about 30 seconds.
Banks and financial services
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Barclays bank is teaming up with Twitter to unroll a payments feature via its Pingit mobile application for consumers in Britain, proving that social networks continue to take on more commerce options in the mobile space.
MasterCard is rolling out Host Card Emulation, a cloud-based mobile payments system, to more than 15 new countries on the heels of Visa’s announcement that it will offer consumers more options of using the wave-to-pay capability, suggesting it could be a technology to watch in 2015.
With security one of the biggest hurdles to driving mobile payments adoption, Visa and MasterCard are doubling down on technologies such as tokenization and biometrics to safeguard customer data on smartphones.
Visa is entering the geo-location market with the new Mobile Location Confirmation, a service that gathers location data from customers’ mobile devices to deduce whether or not an unauthorized consumer is making a purchase when an account holder is traveling outside his or her home region.
The momentum behind Apple Pay continues to build, with 750 banks and credit unions having already signed on and the service now being integrated into 200,000 vending machines, laundry machines and parking meters.
As mobile screen sizes continue to proliferate and consumers conduct more financial activities on these devices, phablets are becoming popular for banking, with use expected to grow by more than 100 percent, according to a new report from Carlisle & Gallagher Consulting Group.
Chase recently said that its Windows mobile application will no longer be available by the end of March, but that customers using Windows smartphones can still access their accounts via their mobile browser.
Webster Bank is one of the first United States-based banks to leverage Apple’s Touch ID feature into its mobile banking application as it aims to drive user adoption with streamlined security features, proving that the appeal of fingerprint identification is growing.
While Apple Pay has quickly become the mobile payments platform to beat on iOS, the ongoing leadership void for Android users could be solved by Google’s reported interest in acquiring Softcard.