Mobile Payment Magazine

Consumers and Mobile Financial Services – Free Report

Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.

Chase Partners with Mitek Systems for Mobile Check Deposit Solutions

February 14, 2011 by Mobile Payment Magazine

Chase has entered into a strategic agreement with Mitek Systems, Inc., a developer of advanced-image analytics and mobile-document-capture applications, to develop a suite of innovative image-capture solutions across multiple smartphone operating systems.

“Mitek’s Mobile Deposit product helps us deliver on that promise by making mobile check depositing convenient and quick, across a variety of platforms.”

The agreement enables Chase to build on the success of its award-winning QuickDeposit feature by deploying Mitek’s mobile-banking and advanced image-capture and analytics products across a variety of smartphone operating systems. QuickDeposit allows customers to deposit checks anytime and anywhere with a click of their mobile phone camera.

“Customers demand an efficient and reliable mobile-banking experience from Chase,” said Jack Stephenson, managing director of Mobile, Ecommerce and Payments, JPMorgan Chase. “Mitek’s Mobile Deposit product helps us deliver on that promise by making mobile check depositing convenient and quick, across a variety of platforms.”

Mitek President and CEO James B. DeBello said: “At Mitek, we enhance the consumer’s mobile-payment experience with advanced capabilities for depositing checks and paying bills that are accurate, secure and easy to use. We are proud to partner with Chase for the use of our patented software solutions.”

In addition to its QuickDeposit feature, Chase provides consumers with industry-leading mobile banking services, including:

Award-winning Chase mobile banking applications for iPhone and Android users.
Text Banking: allows customers to request from any mobile phone and receive within seconds their account balances and transaction history on checking, savings, credit card, mortgage and home equity accounts.
Instant Action Alerts: text messages are sent the moment a checking account balance falls below a pre-selected amount; the customer can then instantly transfer funds through a text-message reply.
Chase QuickPay feature is now available for iPhone users, allowing them to send money to and receive funds from virtually anyone who has signed up for the service with an e-mail address.
Mobile Chase.com website, offering standard services for all mobile banking customers.

Source: Business Wire

Visa “Tap to Phone” Adoption Grows Rapidly

Today, Visa announced that Tap to Phone has experienced a 200% increase over the past year.

Is Your Business PCI Compliant?

A simple guide answering some frequently asked questions as well as debunking a couple myths about PCI compliance.

Nets and Oberthur Technologies Offer Mobile Payments to Scandinavian Banks

Nets, a payments service provider in Northern Europe, and OT (Oberthur Technologies), a global provider of embedded security software products, services and solutions, are partnering to service banks with a financial platform to support future international mobile payment means in the Nordics.

Kohl’s to Launch Mobile Payments

Kohl’s (NYSE: KSS) announced today the nationwide launch of Kohl’s Pay, a mobile payment option which integrates the Kohl’s Charge private label credit card into Kohl’s mobile app. Kohl’s Pay allows more than 25 million active card holders across the country to pay for their in-store purchases with their Kohl’s Charge card directly from their mobile device. Kohl’s Pay also its customers to apply their Kohl’s offers, Kohl’s Cash and Yes2You Rewards with a single transaction right from the mobile device at checkout.

Apple in Talks with Banks to Develop Mobile Person-to-Person Payment Service – Update – NASDAQ.com

Apple Inc. is in discussions with U.S. banks to develop a mobile person-to-person payment service that would compete with PayPal Inc.’s popular Venmo platform, according to people familiar with the talks. The talks are ongoing, and it is unclear if any of the banks have struck an agreement with Apple, these people said. Key details […]