Friday, July 15, 2011

Mobile Banking Development In the United States (US)

2002: The US-based Wells Fargo started m-Banking but operations cut after 2500 signed within 18 months!
2007: m-Payments are initiated via internet access or via text messaging. PayPal provides the latter.
2007: Complex financial institutions, card networks, MNOs and IT vendors resulted in challenges.
2007:m-Banking offers started. Some were partnerships between MNOs & service providers [AT&T w/Firethorn][Nextel w/mFoundry]. Some providers of m-Banking enabling apps that neither carrier- nor device-dependent

2007 Consumers: can check account balances, pay bills, transfer funds and locate ATMs all from mobile devices.

2007: m-Banking offerings may become the gateway to offering mobile proximity payment products in future.
2007: Payment development might be a deployment of contactless cards and readers. JPMorgan issued 20m credit cards with contactless capability in 2006. Others followed.

Free & Enrollment required
Supported handsets can use application
Customer can also access via mobile web

Bank of America m-Banking:
Tutorials for online banking
Flash for online banking
CitiBank m-Banking (Since Q3 @ 2007):
Security is protected in 3 ways. First, each time customers access their account by phone, they must enter a 6-digit PIN. Second, no personal data, including account numbers, are ever stored on the phone. Finally, all information sent between the phone and the bank has 128-bit encryption.
New Egypt Consulting is a mobile-friendly social media company based in Cairo since 2011.
Download our PDF profile from below link, or to email us your inquiries directly:
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