New Budgeting Wearable Shocks Users into Compliance
If the prospect of meeting long-term financial goals doesn’t inspire you to stick to your budget, how about a 255-volt shock to the wrist? A new Internet of Things-based banking platform developed by UK-based Intelligent Environments connects to a smart wristband that delivers a shock whenever users exceed preset spending limits. Ouch.
Durbin Blames Card Networks for Slow EMV Adoption
Sen. Richard Durbin isn’t placing the blame on merchants for slow EMV adoption. Instead, he wrote a strongly worded letter to EMVCo, accusing the chip card consortium (whose member companies are American Express, Discover, JCB, MasterCard, UnionPay and Visa) of impeding retailers’ efforts to gain EMV certification and delaying the requirement of PIN authorization.
Samsung And Alibaba Take On Mobile Payments
Chinese e-commerce giant Alibaba and Korean smartphone leader Samsung are teaming up to make Alibaba payments easier using Samsung Pay. “A strategic tie-up with Alibaba could revive Samsung’s smartphone business in the region and could prove to be a strong revenue driver for the company,” says Forbes.
Citi Offers New ATM Vestibules Accessed by Mobile App
Mobile Payments Today
Citi is pilot testing a new mobile banking feature that uses beacon technology to control access to selected ATM vestibules in New York City. Users approach the ATM vestibule, then receive a “key” on their mobile device that opens the vestibule door.
Mobile Banking No Longer Second Fiddle to Online
With half of Americans now banking through their smartphones and tablets, providers are finally taking steps to move the channel out of online banking’s shadow, according to a report from Javelin.