October 4, 2010

Mobile ATMs and credit cards

Posted by: in Things To Watch

mobile_moneyMove over, ATMs and credit cards. There’s a new player in the pocketbook—the smartphone—and it’s quickly taking over. Chase is looking to cut down on ATM visits by allowing customers to deposit checks via their mobile phones (a technology that’s not yet 100 percent successful). As for credit cards, we are intrigued by FaceCash, an app through which a consumer stores credit card and Social Security information (along with a photo) to turn a phone into a mobile credit card. These innovations will help drive the rise of the digital wallet and, as we’ve noted, potentially change our relationship with money. —Aaron Baar

Photo credit: whiteafrican

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