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FICO has released the results of an international survey of smartphone consumers showing that they want to do much more mobile banking than most of today’s smartphone apps permit. While the most requested functionality is the ability to check account balances (75%), more than half of respondents want to receive notifications of potential fraudulent activity [...]

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The Reserve Bank of India (RBI) has expressed its disappointment over the lower-than-expected spread of mobile banking,  adoption of which has been encouraging, but below expectation, due to key factors such as device incompatibility and lack of industry collaboration. In its half-yearly financial stability report released this week, the Reserve Bank of India (RBI) said mobile could potentially be [...]

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The National Retail Federation, the world’s largest retail trade association, has announced, in the ongoing Interchange Fee Settlement fiasco  “it has formally filed an appeal of a controversial antitrust lawsuit settlement covering credit card swipe fees, asking the 2nd U.S. Circuit Court of Appeals to overturn a lower court’s ruling”. NRF Senior Vice President and General Counsel Mallory [...]

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Continuing its theme of pushing technology for consumer benefit (and cost savings) Barclays Bank says it will pilot a scheme allowing customers to pay cheques, via mobile cheque deposit, into their accounts via pictures taken on their mobile phones, following a government announcement. The government will begin consultation this year to introduce new legislation to allow people [...]

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Amid further uncertainty for virtual currencies, there are fresh reports that India’s largest bitcoin exchange, BuySellBitCo.in, has been forced to shut after the country’s central bank issued a statement warning about the risks of using virtual currencies. The Reserve Bank of India says that bitcoin and its imitators have no regulatory approval and that people [...]

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