Fifth Third Bank Brings Touch ID to its Mobile Banking App

Today, Fifth Third Bank announced that its mobile banking app now has Touch ID biometric capabilities. iPhone users can log into their Fifth Third account using a finger or thumbprint instead of a password. The mobile app allows users to: … Continue reading

LowCards.com Weekly Credit Card Update–January 29, 2016

Rogue App Stores Threaten Mobile Banking Security So-called rogue app stores, once a fringe element, are becoming a serious concern for banks, as subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, which are … Continue reading

Mobile Banking Can Increase Banks’ Revenue, Lower Attrition

Banks and credit unions that adopt mobile banking can expect lower customer attrition and increased product holdings, transactions and revenue, according to a recent study by Fiserv, Inc. The study evaluated the data of more than 67,000 mobile banking users … Continue reading

LowCards.com Weekly Credit Card Update–January 22, 2016

Stolen Uber Accounts Worth More than Stolen Credit Cards Cybercriminals don't care that much about your credit card number anymore. Uber, PayPal and even Netflix accounts have become much more valuable to criminals, as evidenced by the price these stolen … Continue reading

LowCards.com Weekly Credit Card Update–January 15, 2016

Wearable Technology Will Be Used by Half of Consumers for Mobile Payments Research firm, Gartner Inc., has released a recent prediction that wearable technology will play a tremendously larger role in mobile payments over the next few years, saying that … Continue reading

LowCards.com Weekly Credit Card Update–January 8, 2016

Coin and MasterCard Want to Make Everything You Wear a Payment Device Coin has primarily been known for making one of the first "smart" credit cards that can switch between multiple cards. That hasn't worked out so well, but it … Continue reading

LowCards.com Weekly Credit Card Update–December 31, 2015

There are Officially More People Doing Their Weekly Banking via Mobile Phones Than Branches Mobile banking remains a technology in its infancy, but according to Javelin Strategy & Research, it has already eclipsed physical branches in terms of the percentage … Continue reading

Blackberry PRIV Offers Enhanced Privacy for Mobile Banking

With the increased vulnerability of mobile apps, smartphone providers and app developers are under pressure to provide better security and privacy features for their users. BlackBerry may not dominate the industry like it once did, but its latest model of … Continue reading

LowCards.com Weekly Credit Card Update–December 18, 2015

How the Fed's Interest Rate Hike Could Hit Your Wallet The Federal Reserve increased interest rates Wednesday afternoon for the first time in nearly a decade. As expected, the Fed announced that it would increase its benchmark rate by one … Continue reading

Data Vulnerabilities Found on the Back End of Mobile Apps

A new report shows improper coding practices for mobile applications could pose a huge security threat for sensitive personal information, including full names, passwords, financial transactions and health records. This data should be protected by back-end protocol that is not currently … Continue reading

LowCards.com Weekly Credit Card Update–December 11, 2015

Costco Earnings Hurt by Credit Card Switch Costco's breakup with American Express is exposing a behind-the-scenes revenue source for retailers that promote co-branded cards: finders fees. After 16 years of exclusive relationship with American Express, Costco decided earlier this year … Continue reading

Mobile Payments Are Taking over This Holiday Season

Smartphones are playing a vital role in this year's holiday shopping season--not because people are buying more phones, but because they're using their phones to carry out many of their purchases. According to the 2015 Bank of American Trends in … Continue reading

LowCards.com Weekly Credit Card Update–December 4, 2015

As Subprime Credit Cards Grow, So Do Fees There's a growing subprime threat--and it fits in your billfold. The number of subprime credit cards in circulation--those with the highest interest rates--has exploded over the last five years to where in … Continue reading

Large Amount of Banking Will Be Done on Wearables by 2020

Mobile banking has grown tremendously in the past few years, and is projected to reach one billion users by the end of this year, according to new data from Juniper Research. By the end of 2020, that number could reach … Continue reading

LowCards.com Weekly Credit Card Update–November 20, 2015

First U.S. Debit Card Ready for Use in Cuba Americans visiting Cuba can finally put away their cash and pull out their debit card. MasterCard and Fort Lauderdale-based Stonegate Bank announced Thursday that their cards are now active for use … Continue reading

Bank Branches Still in Demand Despite Mobile Banking Growth

The increased use of mobile banking apps isn't stopping people from visiting their local branches, according to a new survey from OnePoint Global. The study assessed how mobile banking customers from the United States and United Kingdom interact with their … Continue reading

LowCards.com Weekly Credit Card Update–November 13, 2015

Apple's Tim Cook Says Cash Will be Dead for the Next Generation of Kids Apple CEO Tim Cook is making another bold prediction about money. Back in January, he forecasted that 2015 would be the year of Apple Pay (a … Continue reading

Generation Z Ready to Shake Up the Banking Industry

Just as the banking industry gets a handle on Millennials, a whole new generation of consumers is on their way: Generation Z. According to the 2015 TD Bank Checking Experience Index, this up-and-coming generation wants to see more debit cards … Continue reading

By 2030, Most Transactions Will Be Cashless

Over half (56%) the experts surveyed in the payments and financial services industry think the United States will be a cashless society by 2030. A Capital One survey of 151 leaders in these sectors also showed the majority (52%) feel … Continue reading

LowCards.com Weekly Credit Card Update–November 6, 2015

How Your Voice Can Protect You from Credit Card Fraud That call to your bank is being recorded for more than just "quality assurance purposes." Some banks are using voice biometrics and other technology to help determine who is calling … Continue reading

Mobile Banking to Exceed One Billion Users By End of 2015

Mobile banking is sweeping across the world. Over one billion people, or one in five adults, will have used mobile banking by the end of 2015. The new study from Juniper Research also forecasts two billion mobile banking users by … Continue reading

Millennials Not Thrilled with their Bank or its Services

Millennials would rather use their mobile phone than do their banking at a traditional branch by an overwhelming margin, according to a new survey from Chime, a mobile banking company. The research showed 88% of Millennials would rather use a bank … Continue reading

LowCards.com Weekly Credit Card Update–October 9, 2015

Expect More Online Fraud as New Credit Cards Arrive The new chip credit cards that shoppers are getting in their mailboxes may prevent criminals from stealing from stores, but many thieves are expected to move their operations online. Small businesses … Continue reading

Growing Acceptance of Mobile Banking Apps in America

According to a new survey from TSYS, consumers across America have adapted well to mobile banking apps. Half of the 1,000 consumers surveyed said they have installed mobile applications from their banks, and 70% of those people said they use … Continue reading

Android Security Team Holds off Mobile Banking Trojans in Russia

The security team at Android has successfully managed to identify and stop an onslaught of mobile banking Trojans in Russia. The country has recently seen a hefty increase in mobile banking fraud, with a staggering 86% of malware for mobile … Continue reading

LowCards.com Weekly Credit Card Update–October 2, 2015

Ready or Not, it's Credit Card Chip and Dip Time Thursday marks a milestone in the effort to shift the U.S. to the use of microchip-embedded credit cards, a more secure alternative to traditional cards that require the swipe of … Continue reading

Face-to-Face Interactions Keep Bank Branches Open

Most Americans still want to visit a physical branch to do their banking business, according to a new survey from Glory Globe Solutions. In fact, 61% of American consumers visit their bank once a month, and 73% believe they’ll still … Continue reading

Smartphone Technology May Speed Up Bank Transactions

Bank of America and Wells Fargo are just two banks that have started researching a technology intended to shorten your wait at the teller line or ATM machine. An individual would use this “pre-staging” process to begin a banking transaction on your mobile … Continue reading

LowCards.com Weekly Credit Card Update–September 17, 2015

Bank of America Reveals Details of Biometric Smartphone App Bank of America has launched a mobile banking app which uses fingerprint and Touch ID sign-in. The bank says its new fingerprint and Touch ID sign-in capabilities provide eligible Android, iPhone … Continue reading

Fingerprint Security Introduced for Bank of America Mobile App

Nearly half of mobile device owners in America have used mobile banking at least once in the last month, according to a recent study. But with this usage comes one major concern: the security of such transactions. Bank of America … Continue reading

LowCards.com Weekly Credit Card Update–September 11, 2015

Consumer Credit in U.S. Increased More Than Forecast in July Consumer credit in the U.S. rose more than projected in July, boosted by bigger credit card balances and loans for automobiles. The $19.1 billion increase followed a $27 billion gain … Continue reading

Nearly Half of Mobile Device Owners Use Mobile Banking

According to a new survey from the American Bankers Association, 39% of Americans and 45% of mobile device owners use mobile banking at least once a month. The rise of smartphone technology and the increasing availability of digital financial solutions … Continue reading

LowCards.com Weekly Credit Card Update–August 28, 2015

Banks Offering Mobile Banking But Consumers Slow to Adapt Financial institutions are offering mobile banking faster than consumers are adapting to it, according to a recently published survey from the Federal Reserve Bank of Boston. Banks and credit unions are … Continue reading

Banks Offering Mobile Banking But Consumers Slow to Adapt

Financial institutions are offering mobile banking faster than consumers are adapting to it, according to a recently published survey from the Federal Reserve Bank of Boston. Banks and credit unions are using this as a tool to attract and retain … Continue reading

LowCards.com Weekly Credit Card Update–August 21, 2015

Mobile Banking Usage to Double in Four Years Mobile banking usage throughout the world is expected to double in less than four years, according to a new study from KPMG and UBS. In 2014, the number of mobile banking users … Continue reading

Mobile Banking Usage to Double in Four Years

Mobile banking usage throughout the world is expected to double in less than four years, according to a new study from KPMG and UBS. In 2014, the number of mobile banking users was close to 800 million, but that number … Continue reading

LowCards.com Weekly Credit Card Update–August 14, 2015

Samsung Enters Mobile Payment Wars With Samsung Pay Samsung is taking on Apple and Google with its own mobile payment system. At a press event in New York Thursday, the company announced Samsung Pay, a new contactless payment system that … Continue reading

Bank of America Shuts Branches in Move to Mobile Banking

Bank of America is closing down several branches to put more emphasis on mobile banking. It is also part of the bank's on-going cost-cutting moves. According to the bank's quarterly earnings call, mobile accounts for 13% of all deposit transactions. … Continue reading

Half of Americans Use Mobile Banking App at Work

Over half of Americans (54%) use mobile banking apps at work, and 1 in 10 have used it while in a client meeting, according to a new survey from Chase. The study found that mobile banking app usage has increased … Continue reading

LowCards.com Weekly Credit Card Update–June 26, 2015

Who's Addicted to Mobile Banking Are consumers addicted to mobile banking? Well, if pulling out a mobile phone to check a bank account balance during dinner--and even on a date--qualifies as addictive, then the answer is yes. A Chase-commissioned survey … Continue reading

Atom Bank Will Become UK’s First App-Only Bank

Atom Bank has no physical branches and currently, does not even have a website. But the company was just granted a banking license by the Bank of England and will begin operation later this year as an app-only bank. These … Continue reading

LowCards.com Weekly Credit Card Update–June 12, 2015

Hackers Go After Little Fish, Too, While Trawling for Credit Cards Hackers are going local in their efforts to steal credit card information from United States customers, hitting small businesses with as much frequency as retail giants. Take Eataly, the … Continue reading

Consumers Now Prefer Mobile Banking over Branch Banking

The banking system in America has officially reached a turning point. According to a new report from Javelin Strategy & Research, more consumers prefer mobile banking over branch banking. Mobile banking is now the second leading way people access their … Continue reading

LowCards.com Weekly Credit Card Update–June 5, 2015

FBI Warns Retailers of New Credit Card Malware A recent cyber attack against a restaurant chain's credit card system prompted the FBI to issue a warning last week that criminal hackers are using new malicious software to steal personal financial … Continue reading

CashPass Launches Mobile Platform for Visa Prepaid Cards

CashPass Prepaid Visa users can now control their prepaid accounts on the go, thanks to the new app which will be introduced. The app will run on the Select Mobile Money platform, designed specifically for prepaid cards. CashPass calls itself the … Continue reading

Digital Insight Brings Apple Touch ID to Mobile Banking

Mobile banking app provider Digital Insight has announced that it will be incorporating Apple Touch ID technology into its applications over the next few months. Users who have an iPhone 5s or newer versions will be able to take advantage … Continue reading

Mobile Banking Usage is Very High in Africa

Most people associate moving money around from your cell phone with tech-heads of the modern world, but new research shows that sub-Saharan African countries are actually some of the most active users in the world. This region is the only area … Continue reading

Consumers Slow to Adapt to Mobile Banking

Two recent reports show mobile banking may not be catching on with consumers as quickly as expected. A new survey from RateWatch reveals that 36% of Americans have never used mobile banking. The research indicates that the number of people using mobile … Continue reading