Comments
Mobile Banking Trends For 2014
Newest First  |  Oldest First  |  Threaded View
Page 1 / 2   >   >>
Mente
50%
50%
Mente,
User Rank: Apprentice
4/10/2014 | 8:57:22 PM
re: Mobile Banking Trends For 2014
That was a very good explanation and i am impressed on image wallet. Currently in my Bank(CBE) we are doing Mobile Banking with P2P and payment with merchant.

Thanks and keep update us!
bob_graham
50%
50%
bob_graham,
User Rank: Apprentice
2/26/2014 | 9:44:46 PM
re: Mobile Banking Trends For 2014
Agree, Kelly and Ivy. I think you to look at this mobile payments displacing traditional credit card (plastic). So you first have to match the convenience of the current swipe at the merchant POC. Then you have to deal with the security issue. Which when you think about he state of US credit card usage (without EMV) and the amount of fraud that exists, if you could secure your confidential data in the cloud or a secure location but not on the mobile device, you could have a situation where the mobile payment is more secure than plastic :)
bob_graham
50%
50%
bob_graham,
User Rank: Apprentice
2/26/2014 | 9:44:46 PM
re: Mobile Banking Trends For 2014
Agree, Kelly and Ivy. I think you to look at this mobile payments displacing traditional credit card (plastic). So you first have to match the convenience of the current swipe at the merchant POC. Then you have to deal with the security issue. Which when you think about he state of US credit card usage (without EMV) and the amount of fraud that exists, if you could secure your confidential data in the cloud or a secure location but not on the mobile device, you could have a situation where the mobile payment is more secure than plastic :)
Greg MacSweeney
50%
50%
Greg MacSweeney,
User Rank: Author
2/26/2014 | 8:04:56 PM
re: Mobile Banking Trends For 2014
When you think about it, the non-digital wallet that everyone has carried around for years is the most dangerous, least secure payment 'device.' Unsecured cards (no chip and pin in the US), driver's license, not to mention cash, can all lead to loss of funds, as well as a stolen identity pretty quickly.
Kelly22
50%
50%
Kelly22,
User Rank: Author
2/26/2014 | 7:06:03 PM
re: Mobile Banking Trends For 2014
I agree, Ivy. There's definitely an adjustment curve here, and those more skeptical of mobile payments will need a lot more convincing before they try it. The convenience factor is appealing, but security is a primary concern when it comes to mobile banking.
Xi1
50%
50%
Xi1,
User Rank: Apprentice
2/26/2014 | 7:04:51 PM
re: Mobile Banking Trends For 2014
Although this perceptive analysis takes into account many future variables & the possible predicted impact of technology upon investment risk levels it does not address other more critical & fundamental changes to the industry which may arise from the January 2014 US banking regulatory changes regarding risk. Although the changes centre upon risk, a more critical perception & reality concern is security. The bottom line is that current methods fail to address many security concerns. In such a climate, the exposure to background & future risk remains high. This will undoubtedly continue to be the case until the first institution makes a critical move. In doing so, it may secure the greatest short to long term gains & improve long term securities. In addition to the technology apps landscapes & mobile wallets are concerns about how people wish to pay. As long as paying hard cash guarantees an interest free transaction it will remain. The future U.S. technology banking apps market may be lucrative but it's sustainability depends to a large extent upon global reciprocation. If this is not the case, 2000 years plus of confident trading in cash will continue & the concept has a shelf life limited to the restrictions contained within that highly probable future reality.
Ivy Schmerken
50%
50%
Ivy Schmerken,
User Rank: Author
2/26/2014 | 1:39:22 PM
re: Mobile Banking Trends For 2014
There are early adopters for every innovation in technology so mobile payments will follow this trajectory as well. Consumers who are very comfortable using mobile apps for banking and other activities will be the first to adopt mobile payments, in my opinion. I think mass adoption will come as the security and fraud protections are strengthened mainly because of the convenience factor. Putting all one's credit card passwords in a digital wallet does take a certain degree of trust in the mobile payment process.
bob_graham
50%
50%
bob_graham,
User Rank: Apprentice
2/26/2014 | 5:03:42 AM
re: Mobile Banking Trends For 2014
With more consumer understanding of how much risk of fraud there is with plastic, as some of these digital wallets mature and have your security information encrypted in the cloud (rather than on the device), i think we will begin to see mainstream adoption
bob_graham
50%
50%
bob_graham,
User Rank: Apprentice
2/26/2014 | 5:03:42 AM
re: Mobile Banking Trends For 2014
With more consumer understanding of how much risk of fraud there is with plastic, as some of these digital wallets mature and have your security information encrypted in the cloud (rather than on the device), i think we will begin to see mainstream adoption
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
2/25/2014 | 6:15:34 PM
re: Mobile Banking Trends For 2014
I wonder if all of the recent news around payments security might make people rethink about how secure their payments cards are. Might open up an opportunity for new payments forms.
Page 1 / 2   >   >>


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
Slideshows
Video
Bank Systems & Technology Radio