Mobile Banking Applications Are Changing

Mobile Banking Applications Are Changing

Mobile banking applications are changing with the introduction of the mobile wallet. New mobile phone apps will enable us to trade stocks from our mobile phones. The mobile wallet will give us the ability to run our smartphone over a bar code scanner at the store to pay for purchases. IT specialists are working on new mobile apps to allow us to do this. Customers also use WAP billing as an alternative to paying for products online with a credit card, debit card or by using premium SMS for billing purposes.

The GFT Group, one of the world’s largest providers of IT services, is working on new mobile apps for large financial organizations. These organizations will soon be able to use mobile banking applications, not only to manage their accounts and pay bills, but they will also be able to receive investment counseling and buy and sell stocks. The GFT group helps clients set up mobile apps by offering IT specialist’s services and solutions specifically for their financial needs.

We already have the ability to use mobile banking apps to pay bills, access our bank accounts and credit card accounts, to get alerts in our email, and deposit checks in our bank accounts if the bank we use is set up to do this. The GFT AppStore is helping financial organizations develop mobile apps and platforms to specifically fit businesses needs. They are now setting up testing sites for their employees which enables them to fine tune this process.

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The mobile wallet is moving to the forefront of banking solutions. Once NFC abilities (near field communications) are set in place, meaning banks, stores and other businesses, both online and off, are able to offer consumers the means to use them, we will see a change in the world of online banking. Experts say that by next year one in five cell phones will be NFC equipped to use mobile wallets.

Many banks and credit card companies enable their customers to pay bills and deposit checks over their mobile phone, although not all banks are set up for all types of mobile phones. WAP billing has become a viable method of paying for downloading music, games, wallpaper and ringtones by being billed via a mobile phone. Mobile banking applications are changing. Newer innovative apps are being designed and developed by IT specialists everyday and some companies now have the capabilities to allow consumers to use them.