Companies like Square, Mitek and newcomer Coin show that the banking industry is on the cusp of a payments revolution. A new transactional system that is fully digital and built on a smartphone backbone is close at Hand.
Consumers can now do just about every banking activity imaginable on a mobile phone. You can use a smartphone to check your balance, transfer funds, pay bills, deposit checks, manage credit cards, accept credit card payments, and even make person-to-person (P2P) payments from one phone to another — even via Facebook! You can do everything that is except buy stuff in stores (rare exceptions like Starbucks notwithstanding).
Read more at Financial Brand
The Real Revolution In Payments Is Just Around the Corner
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