Mobile payments threaten retail banks / credit cards

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This video covers: new non banking payment systems using RFID, mobile devices, personal organisers, mobile phones. Remittances, ticketing, retail payments, passports and travel documents. Paying bills, foreign currency transactions, loan agreements. End of back-end processing for banks. End of credit cards and direct debit cards. Pre-approved loans for purchased goods. Loyalty fees and other transaction payments could create consumer revolution. Threat to traditional retail banking. How banking will be revolutionised by mobile contactless payment systems - based on smartphones rather than plastic cards.  Future of retail banking and back-end payments in Europe and other parts of the world.

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Jan

August 23, 2012 - 09:43

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the whole point about merger is to cut cost and rudeced competition. both resulted in further reduce of bank service be it lay off more employees and rudeced the amount of banks available on the streets. it is at the expense of the consumers of course. instead of dealing with you in person , you are probably waiting on the phones and listening to mundane music. and perhaps makes you run around making more phonecalls before any issues is resolve.

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