Tag: us bank mobile payments

US Bank teams with Monitise to make a move on mobile payments

Mobile payments platform planned through new partnership

Mobile payments firm Monitise has announced its partnership with U.S. Bank, one of the leading financial service firms in the United States. Together, the two organizations will launch a new mobile payments platform and encourage consumers to become more accepting of mobile commerce. Consumers have been growing more interested in mobile payments, but relatively few people are comfortable with managing money on their mobile devices, largely due to the security concerns they have regarding their financial information.

Companies plan to engage consumers through the mobile space

U.S. Bank is no stranger to the concept of mobile payments. The bank has been working to grow more accommodating to mobile commerce in recent years in order to better serve the needs of its customers. The bank has introduced many services that allow customers to manage their accounts from their mobile devices, but its new partnership with Monitise is expected to take its mobile commerce endeavors to a new level. Monitise has extensive experience when it comes to mobile payments and may be able to help U.S. Bank establish a more formidable presence in the mobile space.

Mobile Payments partnershipProject to receive support from Nellymoser and Digimarc

Specific details concerning the platform Monitise is developing for U.S. bank have not yet been released. The platform is expected to cover product discovery, selection, and instant checkouts, however. The project will also receive support from Digimarc, a digital identification specialist, and Nellymoser, which specializes in mobile marketing and digital media. Backed by such strong support, the mobile payments platform is expected to garner a significant amount of attention from consumers.

Bank intends to be a leader in mobile payments

U.S. Bank has a strong interest in establishing itself as a leader in the mobile payments space. The bank will have to compete in a crowded arena, however, filled with companies that have already established a strong foothold in the sector. Monitise is well versed in this competition, of course, and may be able to help U.S. Bank achieve its goals in the mobile commerce field.

NFC technology based mobile payments to be tested for iPhones

nfc technology appleU.S. Bank has announced that it is starting a trial in Portland and in Salt Lake City.

FlexPerks Visa cardholders in Portland, Oregon and Salt Lake City, Utah are being offered a new opportunity from U.S. Bank, in which they can try out a new mobile payments opportunity based on NFC technology.

This opportunity to try the mobile payments product is specific to individuals who have an iPhone 4 or 4S.

Though neither of these devices is enabled with NFC technology, customers who sign up for the program will be shipped a special case created by DeviceFidelity that will allow them to use their iPhones in order to make a purchase at the checkout counter of participating merchants. U.S. Bank explained that its introduction of the service is to be considered a beta release for account holders with the new FlexPerks Travel Rewards Visa Signature card (and an appropriate model of the iPhone).

The NFC technology mobile payments service will be rolled out more broadly later in 2013.

The DeviceFidelity case will provide multiple benefits to the iPhone 4 and 4S device users who receive it. It will not only enable them with NFC technology – a capability that is absent in all Apple smartphone models – but it also contains an additional battery in order to extend the length of the charge of the device.

This is not only convenient in addition to the NFC technology chip, but it also provides the user with the added peace of mind of knowing that they have better odds of completing their purchase transactions without running out of power.

According to the U.S. Bank Payment Services chief innovation officer, Dominic Venturo, “We have incorporated all of the feedback we have received from prior pilots and our customer research into this latest offering and we are excited to offer U.S. Bank Go Mobile in these two markets.”

Though DeviceFidelity is among the more obvious partners in this venture, as it is the provider of the NFC technology cases, there are others involved in this project, as well. For example, Visa will be providing its PayWave tech in order to receive the contactless payments at the checkout counters of the participating merchants. Moreover Datacard Group will be securely issuing and provisioning the accounts.