Mobile banking, $1.5 million at a time.
Posted on 14 August 2009
An article in the Washington Post claims that USAA bank has already deposited over $1.5 million checks through their iPhone application in their first 3 days. It allows a user to take a photo of the check and this starts the process electronically.
I am excited to hear whether or not this level of transactions will maintain the number of repeat users over time. At least, this is a first step in mobile banking transactions that directly use the smart phone technology and attributes to allow the user to interact with the transaction
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