A new innovative security measure can confirm the identity of any person or object, including debit and credit cards, even if essential information (like the complete structure of the card) has been stolen. It uses the unique quantum properties of light to create a secure question-and-answer (Q&A) exchange that cannot be “spoofed” or copied.
The total value of transactions conducted via mobile handsets and tablets will reach US$1.8 trillion by the end of 2014. These trends have led to the development of numerous solutions and technologies that address the security challenges of mobile banking and payments.
Mobile bill payment use is growing rapidly among U.S. consumers, with 27 million U.S. online households now paying at least one bill from their phone, up nearly 70% over 2013. However, new research shows they use an average of three different payment methods each month.
American Express announced it is kicking off a research pilot to study consumer savings behaviors using the Serve software platform. This research pilot can help identify new ways to promote saving and explore whether certain behavioral interventions are effective in increasing consumer savings.
Boubyan Bank has launched its “Mini Bank” concept for the first time in Kuwait. The Mini Bank is powered by NCR Interactive Teller, which enables Boubyan’s centrally located video tellers to remotely deliver 95% of the teller services typically available at a traditional branch, across expanded hours and location.