Mt. Gox now requires verification for non-Bitcoin transactions

Mt Gox now requires verification for nonBitcoin transactions

While the Bitcoin market is advancing toward legitimacy in the financial world, that also means closer legal scrutiny — and the Mt. Gox exchange is tightening its policies to match. As of today, the institution requires verification for every non-Bitcoin deposit or withdrawal. The move keeps Mt. Gox in line with “strict anti-money laundering rules,” and it reduces the chances that security breaches will spark chaos. Verification won’t be necessary for pure Bitcoin transactions, the exchange says. Some traders see the new rule spoiling dreams of a truly borderless currency, but it may help reassure those still skittish about virtual cash.

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Via: CNBC

Source: Mt. Gox

Bank of America Adding Live Video Chat to ATMs Soon

ATMs and I don’t have the best of relationships. I once had my card eaten by the machine and I had to wait the whole night before their technician came to help me out. I’ve also been cheated out of a couple of bills and touched a wad of chewed-up gum someone stuck at the bottom of the money slot. Not that the last one is the machine’s fault, but, well, it happened because I was using it, anyway.

I’m sure a lot of people could use more timely assistance when they run into trouble with an ATM. The good news is the banks have heard our pleas – at least, one has, anyway – and they plan on rolling out live video chat to their ATMs soon.

Live ATM ChatThe Bank of America has announced that a new ATM feature called “Teller Assist.” This will allow users to contact and direct their queries to a live remote teller via video chat. Katy Knox, who is the head of Bank of America’s retail banking division, explained: “This technology gives customers easy, convenient access to ATM banking services with the added option of having a personal interaction and the support of a teller available at the push of a button.”

The new service will initially be launched in Boston, Massachusetts. The good news is that Bank of America plans to roll out the service to the most of its 16,300 ATMs throughout the year.

[via LA Times via Dvice]

One Day Your Credit Card Will Recognize Your Signature

A signature-based security approach is only effective if a cashier actually double checks what’s scrawled across the back of a credit card. And even then, there’s still plenty of opportunity for fraud since minimum wage clerks usually aren’t capable of spotting a forged signature—but one day your credit card might be. More »

US Bank intros BillPay feature for iOS and Android, lets you set up bill payments with a pic

US Bank intros BillPay feature for iOS and Android, lets you set up bill payments with a pic

Judging by recently announced projects like Go Mobile, it’s quite clear that US Bank is working hard at keeping up with the mobile banking curve. With today’s introduction of its new Mobile Photo BillPay feature, the company’s giving customers using an iOS or Android device yet another nifty tool to take advantage of while on the go — one that’s set to make it easy to set up bill payments by simply taking a shot of any invoice and uploading it to an account from within the app. The experience itself is rather similar to what we’re accustomed to seeing when doing things like, say, depositing checks, and US Bank’s quick to point out that it’s one of the first major banks in the US to bring a mobile bill-paying solution to its users. Speaking of which, US Bank account holders can try out BillPay now — links to download from Google Play and the App Store are after the break.

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Via: PhoneScoop

Source: US Bank (App Store), (Google Play)

FIS acquires mobile banking guru mFoundry for $120 million

FIS acquires mobile banking guru mFoundry for $120 million

You may not be very familiar with mFoundry’s name, but you’ll probably know its work if you’re reading this site: it’s part of a deal with MasterCard for NFC-based mobile payments, powers many banking apps and wrote the earliest mobile app code for Starbucks. As such, it’s no small deal that payment giant FIS just bought full control of mFoundry for $120 million. FIS isn’t shy about its aims and sees mFoundry as the ticket to covering a mobile banking space that’s growing quicker than other fields. Not that mFoundry will necessarily feel like a pawn — its audience potentially grows to the 14,000 banks that FIS has for customers. We’ll just need to wait until after the deal closes later in the current quarter to see what the union will bring.

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Source: TechCrunch

Simple brings its banking and budgeting app to Android

Simple banking app comes to Android, promises a firstclass mobile experience

The iOS crowd has been able to use Simple’s online banking app since May of last year, but starting today, those on the Android side of things also have access to the service. For those unfamiliar with Simple, it essentially hopes to match or replace the other guys by introducing “everything you need to organize your spending so you can save more.” This means that in addition to checking account balances, you can also view recent transactions and send or schedule payments. In order to do any of that, however, you’ll first need an account — Simple’s taking invite requests now, and those wanting to give it a try should check out the source link to get started.

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Source: Simple

Want To Replace Your Bank? Use This

The bank-less service you’ve never heard of but should know about, Simple, finally has an Android app. More »

Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank

Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank

BitInstant may be aiming for a Bitcoin debit card, but it looks like a European Bitcoin exchange will beat it to the punch. After working with French financial regulators, Bitcoin-Central has hammered out a deal with French payment processor Acoba and France’s Credit Mutuel bank to become a payment service provider, which allows it to function much like a bank. According to Bitcoin-Central, it’s the first exchange of the digital currency to be licensed to operate as a bank and function within the framework of European regulations. Customers will now have funds held under their name — rather than that of the exchange — at Credit Mutuel and insured by the Garantie des dépôts, the French analog of the FDIC (Federal Deposit Insurance Corporation). Soon, users of the service will be able to order debit cards that can use Bitcoins and Euros for purchases and cash withdrawals. Yearning for some direct deposit action? In a few months, the organization will be able to accept direct deposits and even automatically convert hard-earned cash into Bitcoins. The virtual bullion has taken its lumps, but this is a development that fans of the currency can be proud of. For more details, tap the bordering source link.

[Image credit: Zach Copley, Flickr]

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Via: Ars Technica

Source: Bitcoin Forum

Credit Cards of the Future Will Have Buttons and an LCD Screen

A lot of people think that mobile payments is where most establishments are headed, which will eventually make credit cards obsolete. But those cards with their magnetic strips aren’t going out without a fight.

How? By reinventing the cards to include a numeric keypad and an LCD screen.

High Tech Credit CardI kid you not. MasterCard is apparently intent on launching this ‘Display Card’, which they believe is the ‘next big thing in credit card technology.’ What makes this different than the cards we have nowadays is that you have to enter a PIN number directly on the card before you can use it to pay for stuff. How this is different from keying in a number on a PIN-pad, I’m not sure.

The Display Card is going to be rolled out in Singapore soon. I personally think it’s a bit silly, but it might work. What do you think?

[via Geekologie]


Voice assistant ‘Nina’ lets any app obey commands, makes speech your password

Voice assistant 'Nina' lets any app obey commands, makes speech your password

Voice recognition technology from Nuance is all over the place — in everything from Smart TVs to Beemers. But today, in response to the growth of device-specific voice assistants like Siri and S-Voice, the company wants to take things down a different route: launching a mobile SDK for iOS and Android that any third-party app can employ. Baptized “Nina,” the voice assistant won’t only be able to understand instructions, but will also identify the speaker using vocal biometrics. That means Nina could potentially pay a bill, arrange a bank transfer, book a vacation or even interact with government services without ever requiring you to enter a password. The video after the break shows just how intimate things could get — assuming you’re able to find a spot where the two of you won’t be overheard.

Continue reading Voice assistant ‘Nina’ lets any app obey commands, makes speech your password

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Voice assistant ‘Nina’ lets any app obey commands, makes speech your password originally appeared on Engadget on Mon, 06 Aug 2012 06:38:00 EDT. Please see our terms for use of feeds.

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