Retail

Why Some People Make Mobile Payments (and Why Some Don’t)

Why Some People Make Mobile Payments (and Why Some Don’t)

by March 27, 2015 at 12:59 pm 1 comment

People make mobile payments to pay bills, or they don’t use them because it’s no easier than using a card or cash. That’s according to data from the Board of Governors of the Federal Reserve System, which released its fourth annual report on mobile banking this week. The study’s definition of aRead More

Alerts Grow in Importance as Mobile Banking Feature [VIDEO]

Alerts Grow in Importance as Mobile Banking Feature [VIDEO]

by March 27, 2015 at 10:22 am 1 comment

Alerts, also known as push notifications, are the third most popular use of mobile banking apps, according to a report from the Federal Reserve Board released today. More than half of mobile users — 57% — received alerts from their bank in 2014. These notifications can take the form ofRead More

PayStand Offers First Bitcoin mPOS

PayStand Offers First Bitcoin mPOS

by March 26, 2015 at 11:38 am 2 comments

Bitcoins could soon be easier to use at your local point-of-sale. Payment processor PayStand, which made waves last year with its announcement that it would process bitcoin transactions along with credit cards and ACH in its online payment platform, is now moving into the POS space with a mobile app thatRead More

Mobile Banking Usage Continues to Climb, Fed Says

by March 26, 2015 at 11:25 am 1 comment

Mobile banking usage continues to advance in the US, with fully 39% of adults “with mobile phones and bank accounts” using mobile banking, up from 33%, the Federal Reserve reported today. This is the Fed’s fourth annual review of mobile banking in the nation. Here’s an excerpt from the report:Read More

Price Still Trumps Mobile Apps When Customers Weigh Switching Banks

Price Still Trumps Mobile Apps When Customers Weigh Switching Banks

by March 26, 2015 at 10:34 am 0 comments

Switching banks is hard — it’s not like switching channels. Lower fees are the main reason customers switch banks, but being young also plays a part. The older you, the more complicated your financial life is likely to be, making switching even more difficult. In an industry obsessed with nettingRead More

A still from Final's video. Final looks to replace credit cards with static numbers

Just 9 FinTech Startups Present at Y Combinator’s Demo Day

by March 25, 2015 at 11:46 am 1 comment

More than 100 companies demoed at Y Combinator’s Winter Demo Day, which runs for two days and concluded yesterday. Fintech, however, was not particularly well-represented. Just nine fintech startups in all presented. Y Combinator is arguably the leading incubator in Silicon Valley, which is why fintech’s under-representation this week at DemoRead More

Is Facebook Paying $0 for Payment Processing?

Is Facebook Paying $0 for Payment Processing?

by March 24, 2015 at 10:41 am 1 comment

One of the rumors circulating around Facebook’s new payments service is that the social media giant will not pay even 1 basis point to process payments. While this is just an unlikely rumor, the scuttlebutt is indicative. It shows that: a) Facebook may have negotiated hard with the payments networks; b) theRead More

BankMobile Kicks Off Facebook Contest for New Product Ideas

BankMobile Kicks Off Facebook Contest for New Product Ideas

by March 24, 2015 at 7:11 am 0 comments

BYOB is not about bringing your own bottle any more. For BankMobile, the mobile-first bank launched in January by Phoenixville, Pa.-based Customers Bank, BYOB means “build your own bank.” The company is offering $5,000 for the “best banking idea” in a BYOB contest launched on its Facebook page yesterday. BankMobile’s mobile app offers top-of-the-line mobileRead More

Is There Hope for Community Banks?

Is There Hope for Community Banks?

by March 20, 2015 at 10:26 am 1 comment

Most Americans would like to do their banking with a community institution, but don’t. This is bad news for community banks. A survey released last week, the 2015 Consumer Banking Insights study, notes that Americans feel very positively about community banks and and credit unions. The study was sponsored byRead More

10 Coolest Brands in Banking 2015

10 Coolest Brands in Banking 2015

by March 19, 2015 at 11:55 am 8 comments

How do you define “cool”? The Urban Dictionary (which is way cooler than other dictionaries) says “cool” is: An adjective referring to something that is very good, stylish, or otherwise positive. [As in,] Your computer is very cool. Welcome to our fourth annual list of the 10 financial services brandsRead More

Next Up for Facebook: Selling in Your Feed?

Next Up for Facebook: Selling in Your Feed?

by March 18, 2015 at 11:57 am 1 comment

Amid the stream of news — tidal wave, even — about Facebook’s new Send Money feature yesterday, there was little mention of what’s likely to come next. And that is, paying for products via Facebook. Facebook bought — and immediately shut down — shopping site TheFind just last week. What gives? After yesterday’sRead More