Tag: BANKING

Google has purchased thousands of VeriFone's mobile payment registers, intending to install and test the system in stores in New York and San Francisco, according to Bloomberg. With this system, customers could pay for products with their Nexus S (or other smartphone equipped with a near-field communication chips) rather than using cash or physical credit and debit cards in stores. The anonymous ...

A new piece of banking malware has finally surfaced, confirming fears that have been circulating for several months. The new worm combines elements from both Zeus and SpyEye, but, according to Seculert CTO and co-founder Aviv Raff, it has only infected a handful of people so far. Seculert's screenshots show that the malware has two control panels -- one resembling Zeus's, and the other ...

Most of us rely on our cell phones to stay in touch with our friends, check our e-mail or play Angry Birds. But, in less economically developed parts of the world, mobile technology hasn't just created a new avenue for instant communication, but an entirely new banking sector, as well. Mobile banking first took off in 2001, when phone operators Globe and Smart both began offering mobile payment ...

A new update to the PayPal iPhone app now allows users to deposit money into their online accounts simply by taking a photo of a check. The new check-capture feature was first unveiled at TechCrunch Disrupt, and made its iTunes Store debut yesterday as a free update for the PayPal app. With the update, users will be able to deposit a check by using their iPhone to take photos of its front and ...

It used to be that tracking your money with a computer meant manually entering transactions and account balances, just as you would with the ledger at the back of your checkbook. Eventually, financial software matured enough to allow you to import your statements from some banks, as long as they were available to download in a specific format. Today, Mint automates the whole process for you, ...

Despite its media portrayal (deserved or not) as a constant war zone, few nations blend the ancient and the advanced as seamlessly as Israel. According to the Associated Press, though, certain members of the Israeli government hope to implement a divisive plan that could significantly strain relations between the country's religious and secular groups. Many adherents to Judaism practice ...

With the rise in mobile payment options, our kids probably won't know how to write a check or whose face appears on a $20 bill. MasterCard recently launched its 'MoneySend' app for BlackBerry devices. The app, which is also available for iPhone, lets users swap money with others, pay for informal products and services, and receive credit or debit card payments -- all for free. For example, you ...

Earlier this month, AT&T and Verizon announced a joint venture to test a new system that would allow customers to pay for products with their smartphones. Now, Bank of America and Visa have followed in their footsteps, and, as Reuters reports, will begin testing their own smartphone-payment system next month.The test run, which will take place in New York from September through the end of ...

The still-nascent field of smartphone payment systems may be getting a lot more crowded, since AT&T and Verizon Wireless have become strange bedfellows in testing a new system that allows store customers to pay for products with their smartphones. According to sources close to the deal, the test system would be similar to those already implemented in the U.K., Turkey and Japan, where ...

The ubiquitous ATM has quickly become a favorite, and often easy, target for hackers looking to make a quick buck. At the Black Hat Conference in Las Vegas, security researcher Barnaby Jack recently demonstrated a pair of hacks that allowed him to force an ATM to literally spit cash at him like he'd hit the jackpot on a slot machine. In the demonstration, Jack attacked ATMs from Triton and Tranax, ...

High-tech criminals have apparently adopted a decidedly low-tech methodology in the latest banking scam. Hackers are forging and cashing checks in order to slip past their victims' defenses. Rather than snagging passwords and initiating electronic transfers, these scammers are hacking into sites that store images of checks for banks, check cashing outlets and other businesses. From these images, ...

As mobile banking becomes more popular, security threats will grow -- unless banking institutions keep a close watch on their customers' personal information. According to The Wall Street Journal, users of Citibank's iPhone application were recently exposed to a security threat because a previous version of the app had stored personal information -- including account numbers, bill payments and ...

Mobile banking apps are a dime a dozen, but a recent update to JPMorgan Chase's free iPhone app really makes it stand out from the rest. Now, customers can deposit checks to their account via iPhone snapshots. It's as simple as logging into your account on the Chase Mobile iPhone app and snapping a photo of both the front and back of the check. Soon after, it will land in your account without the ...

If you blame your credit card for making it all too easy to unconsciously rack up piles of debt, just imagine the kinds of splurge purchases you'd make if you could pay with your face. FaceCash, the new mobile payment system from ThinkLink, is an app that allows users to store credit card and bank account information directly on their smartphones, enabling them to purchase groceries, clothes or ...

We all take it for granted now, but there once was a time, not too long ago, when withdrawing cash from your bank account meant waiting in lengthy lines at your local bank. Everything radically changed, of course, with the birth of the ATM. On Saturday, John Shepherd-Barron, the man widely acknowledged as responsible for creating the cash dispenser, passed away in Scotland at the age of 84. ...