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

Consumers Prefer Online and Mobile Banking over Branch Banking

According to a new survey, consumers in the United States and the UK prefer mobile and online banking over branch and telephone banking. BioCatch surveyed 600 consumers from the top five banks in both countries and found that 36% preferred … Continue reading

Credit Union Launches First Mobile Banking App for Smartwatches

Credit union customers in Ohio are the first in the country to be able to do mobile banking on their smartwatches, thanks to the new Android Wear app from Wright-Patt Credit Union. The new app, developed by Digital Insight, is … Continue reading

LowCards.com Weekly Credit Card Update–March 27, 2015

Google Working on Project to Let You Receive and Pay Bills Directly Inside Gmail Google's mission to organize the world's information is now targeting your physical mailbox. The company is currently working on a project that will allow Gmail users … Continue reading

One in Four Consumers Willing to Pay for Mobile Banking

Mobile banking apps are becoming an increasingly important feature in the financial industry, and for the most part, they are completely free to use. However, new data from SNL Financial indicates one in four consumers would pay for mobile banking if … Continue reading

Consumers Demand Mobile Banking Apps When Opening New Checking Account

According to a new study of consumer banking behavior, 56% of bank customers look for mobile banking apps when creating a new checking account. Millennials are more likely to seek out mobile banking solutions than older consumers, but the demand … Continue reading

Password-Free Mobile Banking Now Possible with EyePrint ID

Consumers are very concerned about security when it comes to mobile banking, and a new technology allowing users to log into their accounts with just their eyes could lessen those concerns. Mobile banking firm Digital Insight has partnered with EyeVerify … Continue reading

Mobile Payments Quickly Changing the Transaction Industry

Mobile payments are no longer just a trendy way to make a payment. They are quickly becoming the major force in the transaction industry. According to a report from Business Insider, mobile payment volume in the United States is projected … Continue reading

New Facial Recognition App Could Replace Passwords

A new app developed for the selfie generation may end up becoming your most secure login information. Hoyos Labs has developed an application to address security concerns that uses biometric technology, so users can bypass usernames and passwords just by … Continue reading

Mobile Deposits Creating New Fraud Concerns for Banks

As mobile banking becomes more prevalent, new concerns have emerged for banks that accept check deposits through smartphones. These financial institutions are looking for ways to prevent consumers from depositing or cashing checks at more than one bank. While the "double-dipping" … Continue reading

CFPB Requests Information on Mobile Financial Services

The Consumer Financial Protection Bureau is inquiring about mobile financial services in an effort to create better security on mobile banking platforms and to reach out to unbanked consumers. According to the CFPB, 74,000 customers a day used mobile banking … Continue reading

LowCards.com Weekly Credit Card Update–December 13, 2013

Mobile Banks Gaining Popularity with Young Consumers The new alternative banks work with traditional banks to hold deposits, so the money in your account is FDIC-insured. GoBank is the mobile banking arm of the Green Dot Corporation, which holds the … Continue reading

Mobile Banking Likely to Cost Consumers

More Americans are turning to mobile banking because it is fast, convenient and free. You can manage your accounts directly from your smartphone, whether it be deposits or transfers. What would happen if you suddenly had to pay for this … Continue reading

Mobile Banking Streamlines Money Sharing

Ever go to split a bill at a restaurant, only to be frustrated by someone having to write a check to you? Checks are a bit antiquated, but most people don't have credit card processors hanging around in their wallets. If that scene … Continue reading

LowCards.com Weekly Credit Card Update–September 27, 2013

Google Wallet Arrives on iPhone Google introduced the Wallet app to the iPhone, a move which will hasten the replacement of cash and credit cards. The iOS app will allow users to store gift and loyalty cards and send cash … Continue reading

Western Union Goes Mobile with U.S. Bank

Western Union, one of the largest money wiring networks in the world, recently announced that it would be partnering with U.S. Bank to offer mobile banking. U.S. Bank customers will be allowed to send money to other people directly through the … Continue reading

Mobile Banking Continues to Increase

More consumers are turning to their phones to take care of their banking needs according to the latest data from the Federal Reserve. The study, entitled Consumers and Mobile Financial Services and done in late November, showed that 28% of mobile … Continue reading

LowCards.com Weekly Credit Card Update – February 1, 2013

Secrets of Mobile Success: Cost-Cutting Banks Seek Smartphone Customers Strapped for new revenue and pressed into waves of cost cuts, the country's largest banks are trying to keep the customers they have, woo the ones they don't and do it … Continue reading

Capital One Promotes Mobile Banking Through Cell Phones for Soldiers

Mobile banking is growing rapidly and one bank is promoting its mobile business through a tie-in with Cell Phones for Soldiers. Capital One said last week it will donate one minute of cell phone usage the first time any customer … Continue reading

LowCards.com Weekly Credit Card Update December 14

Bank of America’s Plan to Drive Mobile Banking Beyond 12 Million Users As part of a drive to sign up more people for mobile banking, Bank of America is outfitting its teller stations with quick response (QR) codes that can … Continue reading