Pocket Banking

Article

People already use their cellphones to surf the Web, take photos and text message – besides making calls. Now, a growing number of banks are also letting them pay bills and transfer money through their cellphones. In December, Wachovia, the nation’s fourth-largest bank, began allowing more than 4 million online-banking customers to view account information and transfer funds via cellphone. The two largest banks, Bank of America and Citigroup, will soon unveil similar services – with the further ability to pay bills by cellphone. These rollouts mark the industry’s first widespread launch of cellphone banking.

Region

Americas

Country

United States of America (USA)

Category

Economic

Organisation / Author

USA Today

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