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  • Apple Pay Headed To UK Banks, NYC Parking Tickets

    Apple Pay Headed To UK Banks, NYC Parking Tickets

    Apple is just getting started with its payments product Apple Pay. It’s looking like 2015 is going to be a big year for it as more and more institutions and businesses adopt it.

    We already learned that Chevron, which already offers it at some of its stores, is planning to introduce Apple Pay support at gas pumps in early 2015.

    Now it’s looking like UK banks are warming up to it. The Telegraph reports:

    Negotiations between the Silicon Valley giant and at least one of the biggest banks have proved tricky, however, because of wrangling over the terms, including what data Apple will be able to access, according to sources.

    It is understood the bank is uncomfortable with the amount of personal and financial information Apple wants to collect about its customers. Some executives fear Apple Pay and the data it delivers to Apple could serve as a beachhead for an invasion of the banking industry.

    Meanwhile, New York City is said to be weighing Apple Pay, as well as PayPal and bitcoin, for parking ticket payment. MarketWatch reports:

    The city’s finance department is looking into alternative payment methods like Apple Pay, PayPal and Bitcoin for the roughly $600 million in parking ticket revenue it collects annually by issuing up to 10 million tickets.

    Square is also expected to support Apple Pay in 2015.

    Image via Apple

  • Northern Trust Posts Flat Third-Quarter Income

    Northern Trust Corporation, a financial services company headquartered in Chicago, this week reported its third quarter earnings. Income over the quarter was on-par with that seen in the third quarter of 2013 and up slightly from income during the second quarter of 2014.

    Northern Trust took in $204.5 million during the third quarter of 2014, just shy of the $206.5 million in income seen during the third quarter of 2013. Earnings for both this year and last year amounted to $0.84 in net income per diluted common share. The past quarter’s earnings were an improvement on the second quarter of 2014’s income of $181.9 million. The company’s return on average equity hit 10.1 percent during the third quarter, down from the 10.6 percent seen in 2013.

    “Our financial performance in the third quarter of 2014 reflects continued growth in our business serving personal and institutional clients,” said Frederick Waddell, chairman and CEO of Northern Trust. “Trust, investment, and other servicing fees, which represent two-thirds of our revenue, increased 11 percent compared to last year. New business and higher equity markets contributed to strong growth in assets under custody and under management, which increased 13 percent and 9 percent, respectively. Our pre-tax profit margin improved to 28.2 percent in the quarter and our return on equity was 10.1 percent. This performance reflects ongoing efforts focused on growing our client franchise while achieving sustainable improvements in productivity.”

    Statistical rating organization Fitch Ratings commented on Northern Trust’s third quarter earnings, calling the report “more of the same” and “relatively flat” compared to earnings seen one year ago. Fitch called Northern Trust’s latest earnings report “satisfactory from a credit perspective,” but also voiced concerns that earnings were below the company’s long-term averages.

    According to Fitch, growth for Northern Trust will continue to be “challenging.” Expenses in particular could be a problem area for Northern Trust because of increased regulatory and compliance costs.

  • JPMorgan Chase Cyberattack Big In Volume, But Not Sensitive Data, According To Bank

    JPMorgan Chase Cyberattack Big In Volume, But Not Sensitive Data, According To Bank

    JPMorgan Chase, the largest banking institution in the U.S., revealed that 76 million household accounts and 7 million small business accounts were compromised in a recent cyberattack – an attack that was previously disclosed, but was much larger than first thought.

    Attackers obtained names, addresses, phone numbers, and email addresses, but not the really sensitive data like account numbers, passwords, user IDs, dates of birth, or social security numbers, according to the bank. In fact, the bank is actually telling people they don’t see any reason for customers to have to worry about changing their passwords.

    Chase tells customers in a message:

    We want to update you further on the cyber attack against our company. After extensive review, here is what our forensic investigation has found to date:

    Here’s what you should know:

    – There is no evidence that your account numbers, passwords, user IDs, date of birth or Social Security number were compromised during this attack.

    – However, your contact information – name, address, phone number, and email address – was compromised.

    Your money at JPMorgan Chase is safe:

    – Unlike recent attacks on retailers, we have seen no unusual fraud activity related to this incident.

    – Importantly ,you are not liable for any unauthorized transaction on your account that you promptly alert us to.

    We are very sorry that this happened and for any uncertainty this may cause you. We don’t believe that you need to change your password or account information. Scroll down for answers to questions you might have. As always, we recommend you use care with your accounts and information, as we describe in our Security Center

    We’re here to help

    Attacks like these are frustrating. There are always lessons to be learned, and we will learn from this one and use that knowledge to make our defenses even stronger.

    The New York Times reports:

    The hackers appeared to have obtained a list of the applications and programs that run on JPMorgan’s computers — a road map of sorts — which they could crosscheck with known vulnerabilities in each program and web application, in search of an entry point back into the bank’s systems, according to several people with knowledge of the results of the bank’s forensics investigation, all of whom spoke on the condition of anonymity.

    The attackers reportedly operated from overseas.

    The bank says customers were affected if they used Chase.com, JPMorganOnline, Chase Mobile or JPMorgan Mobile. It says that due to the fact that no financial or account data was compromised, it’s no necessary to get credit/identity theft monitoring.

    The attack’s access paths have been closed, it says.

    Image via Wikimedia Commons

  • Credit Suisse Pleads Guilty to U.S. Tax Evasion

    Credit Suisse Pleads Guilty to U.S. Tax Evasion

    Swiss banking firm Credit Suisse this week pleaded guilty to U.S. tax evasion charges. According to the U.S. Department of Justice, Credit Suisse is the largest bank to plead guilty to such charges in over two decades.

    The case surrounds a years-long investigation by the U.S. government into a conspiracy to aid U.S. taxpayers in avoiding taxes. The charges allege that Credit Suisse and its subsidiaries “actively” participated in helping account holders deceive the Internal Revenue Service (IRS) through the use of undeclared bank accounts. The bank used offshore accounts under false business names to shield its customers’ funds from the U.S.

    The Justice Department‘s investigation revealed that Credit Suisse’s involvement in the conspiracy spanned decades and involved hundreds of the bank’s employees. At least one Credit Suisse subsidiary is alleged to have been helping Americans evade tax payments for over 100 years. Attorney General Eric Holder stated that Credit Suisse destroyed bank records, concealed bank transactions, flouted banking disclosure requirements, and destroyed documents sought by the Justice Department as part of its investigation.

    Credit Suisse will pay more than $2.6 billion to U.S agencies as part of the plea agreement. $1.3 billion will be paid to the U.S. as a fine, $670 million will be paid as restitution to the IRS, $100 million will be paid to the Board of Governors of the Federal Reserve, and $715 million will be paid to the New York State Department of Financial Services.

    The Justice Department characterized the guilty plea as an example that the department is not influenced by big business.

    “This case shows that no financial institution, no matter its size or global reach, is above the law,” said Holder. “When the Department of Justice conducts investigations, we will always follow the law and the facts wherever they lead. We will never hesitate to criminally sanction any company or individual that breaks the law. A company’s profitability or market share can never and will never be used as a shield from prosecution or penalty. And this action should put that misguided notion definitively to rest.”

    Image via Facebook

  • Mortgage Rates Decline; Rises Loom in Future

    As the spring season rolls in and the winter doldrums roll out, people are finally exiting their homes and exploring the world once again. Luckily for those recovering from an intense winter hibernation, the economy shows positive signs for the first quarter. Job growth increased by 192,000 for the month of March, and unemployment remained at 6.7 percent. More important for future home-buyers, though, was news that mortgage rates are slowly declining despite fears of an increase in 2014.

    Recent reports show that average mortgage rates fell from 4.5 percent to 4.375 percent at the beginning of April, a much-needed positive sign for the housing market.

    While most big banks are reporting a drastic decline in the number of mortgage originations for the first quarter, with Wells Fargo reporting a 67 percent decline in originations and JP Morgan reporting a 68 percent decline, most signs showcase that for the month of April, more homeowners are coming onto the market and expressing interest in purchasing a new home.

    The Mortgage Bankers Association has reported a 13 percent increase in home-purchase mortgage applications over the past five weeks, hitting a two-month high.

    Along with a recent increase in home-buying applications, US consumer confidence ratings hit its highest point in the past six years, indicating that consumers feel secure in the current economic climate and are more willing to make large purchases.

    The surge in demand for houses and the rise in mortgage applications may simply be a brief blip on the radar, however.

    Mortgage rates increased over the past year most likely in response to news that the Federal Reserve was going to draw-back on its bond-buying program, pulling $10 billion from the economy in monthly installments until the average monthly investment dropped from $85 billion to $55 billion.

    Once this transition is complete, much economic pundits believe mortgage rates will increase. Because of this, many first-home-buyers may be rushing to the market now to circumvent potential higher mortgage rates in the future.

    If the Fed is planning on pulling $30 billion out of the US economy each month soon, it should hope that banks keep mortgage rates low. Lower mortgage rates spur increased consumer spending, a sector which accounts for 70 percent of the US GDP.

    Image via YouTube

  • Arkansas Man Asks Bank Teller To ‘Punish’ Him, Gets Arrested

    Bank tellers have a pretty routine job. It’s always a withdrawal this or deposit that. The highlight of their day must be somebody asking for a loan application. While they may crave excitement, having a customer ask for a withdrawal from the spank bank might be a bit too much.

    5 News reports that Drake Parks, 50, of Van Buren was arrested last week after he called a bank teller asking her to “punish” him. In the police report, the punishment in question was a good spanking. Now, it’s at this point where you make a joke about masochism, but the full story is a little weirder than that.

    You see, Parks was in the bank earlier that day for some regular bank business. At 3:30 p.m., the teller received a call from somebody claiming to be Parks’ father who said that he was being an “expletive” and that he needed to be punished. He even offered to pay him $50 for her troubles Parks then got on the phone and asked the teller to do what his father said – punish him.

    It’s at this point that you’d probably call the cops for two reasons. First, it’s a little weird to have somebody ask you for a spanking; and second, it’s even weirder when that person is impersonating their father to ask for said spanking.

    The teller hung up and called the police. Parks was arrested afterwards. He was charged with harassing communications – a misdemeanor. It’s certainly not on the same level as somebody who asks women to pleasure him with cheese, but it’s still a little messed up.

    Image via Crawford County Jail/5News

  • Swiss Banker Found Guilty of IRS Fraud

    Swiss Banker Found Guilty of IRS Fraud

    The Swiss banking system, and Swiss bankers in particular, were portrayed in the 2013 Oscar-nominated Scorsese movie The Wolf of Wall Street as outright corrupt. Though the movie, its events, and its characters are based on real-life events, Jean Dujardin’s Swiss banker in the movie (based on real-life banker Jean-Jacques Handali) matches the long-held Hollywood stereotype of a Swiss banker. Now, however, a more recent court case has shown that the caricature of such bankers portrayed in the movie might not be far from the truth.

    Swiss banker Andreas Bachmann today pleaded guilty in a U.S. District Court to defrauding the IRS. As part of his plea deal Bachmann now faces up to five years in prison. His sentencing has been scheduled for August 8, 2014.

    Bachmann worked as a banking and investment advisor for a Credit Suisse subsidiary in Switzerland between 1994 and 2006. During those years he served U.S. clients and advised them on how to evade IRS income taxes by sheltering income in secret Swiss bank accounts. Bachmann has also admitted that the highest ranking executive at his bank subsidiary was well aware of his illegal U.S. investor advice.

    “Today’s plea is just the latest step in our wide-ranging investigations into Swiss banking activities and demonstrates the Department of Justice’s commitment to global enforcement against those that facilitate offshore tax evasion,” said Deputy Attorney General James Cole. “We fully expect additional developments over the course of the coming months.”

    In addition to his illegal advice, Bachmann occasionally traveled to the U.S. where he would fulfill withdrawals or deposits for secret bank accounts. To accomplish this, Bachmann would take ferry cash from some clients and to others across the U.S.

  • Online Security, Are We All Potentially At Risk?

    How safe are we really? One may wonder if large corporations, small businesses, and individuals are all subject to online fraud. Financial Fraud Action UK has recently reported that losses incurred due to online security failures are increasing.

    Though there is no surefire way to safeguard against all potential risks, individuals have options regarding where to invest their money. Choosing the bank best suited to a person’s needs is important in such situations. Which? recently delved into the world of online bank security by researching ten of the UK’s biggest banks.

    The ranking dimensions included the following: login security, logout security, security established for transferring money, avenues in place to change personal account details, the site’s navigational capabilities to use forward and back buttons while logged in, and encryption as well as protection of information against threats.

    Which? listed the banks in the following order from most secure to least secure.

    1. NatWest/RBS – 76%
    2. The Co-operative Bank – 72%
    3. HSBC – 72%
    4. Barclays – 71%
    5. Norwich and Peterborough BS – 70%
    6. Lloyds TSB – 69%
    7. Nationwide BS – 69%
    8. Smile – 68%
    9. Halifax – 67%
    10. Santander – 47%

    Santander ranked last on the list, but responded to the study with positive news for bank members. The statement from Santander read, “We have taken on previous feedback from Which? and enhanced the visible and invisible layers of security in our systems. This means when you log off, you are completely logged off and cannot get back in without re-entering security details. While we ensure online banking is safe and secure, we also have to make sure it’s user-friendly as well, to strike the right balance.”

    Small businesses can align themselves with website security companies as Verio Inc. has recently done. Verio Inc., which provides business solutions to SMBs, has partnered with StopTheHacker to educate small businesses about ensuring security for their websites. Though services offered will vary in the amount of fees, this initiative allows small business to consider online security options starting at $10 per month.

    According to StopTheHacker’s Vice President of Sales, Ridley Ruth, “We are very excited to partner with Verio as they understand the importance of website security. We see that 90% of all the malware in the world is being distributed by legitimate small business websites. This valuable, free website security report will further serve to educate Verio’s customers to this growing problem while presenting products that will help protect them from becoming one of the over 9,500 websites that Google blacklists every day.”

    [Image Via Wikimedia Commons]

  • Liberty Reserve Founder Indicted On $6 Billion Scheme

    A $6 billion scheme has been uncovered by U.S. authorties today that indicts the founder of Liberty Reserve and others involved in the scheme.

    Wired reports that the $6 billion scheme that was just revealed today in court documents is the largest international money-laundering scheme ever prosecuted. This was the result of Liberty Reserve serving as the hub in which cybercriminals used to transfer funds among each other. In short, Liberty Reserve is responsible for the transfer of dirty money.

    Liberty Reserve was a favored tool among hackers and cybercriminals as it only required a user’s email address to set up an account. It was also popular for only charging 1 percent on all transactions while offering to hide account numbers for only 75 cents more. As you can plainly see, it’s obvious why the service was so popular among the online criminal underground.

    During last week, arrests were made in Spain, Costa Rica and New York, One of those arrested was Arthur Budovsky, a Costa Rican of Ukranian descent and founder of Liberty Reserve.

    It should be noted that Liberty Reserve was a legitimate money transfer business. The company had plenty of legitimate customers who are now caught in the crossfire of the U.S. prosecuting the site for serving criminals. It’s similar in a way to Kim Dotcom’s Megaupload as it was taken offline, and its founder indicted, for a few instances of copyright infringement while legitimate users of the service were left without recourse. It will be interesting to see if legitiate users of Liberty Reserve will come forward in the coming weeks demanding recompense.

  • Turns Out Anonymous Did Hack Into The Federal Reserve

    On Sunday evening, Anonymous leaked over 4,000 banker profiles it claimed to have stolen from the federal reserve. The information contained names, addresses, IP addresses, hashed passwords and other sensitive information. Now the federal reserve has confirmed the hack, but says no “critical functions” were affected.

    ZDNet reports that the Federal Reserve sent out notices to affected individuals earlier this week confirming an intrusion on their system. In a statement to Reuters, a spokesperson said the Federal Reserve was “aware that information was obtained by exploiting a temporary vulnerability in a Web site vendor product.” The vulnerability was reportedly fixed, and should cause no more problems in the future.

    Of course, that doesn’t fix the fact that a list containing the personal data of over 4,000 bankers is still floating around the Internet. The Federal Reserve downplayed the hack by telling those affected that their passwords were not compromised. That’s technically true, but there’s still cause for concern.

    Speaking to ZDNet, Jon Waldman, a senior information security consultant for financial institutions, said the hashed passwords included in the leak could be easily decrypted by hackers. The list which contained the information is no longer on the original hacked Alabama Web site, but it’s reportedly being hosted on a Chinese Web site for hackers to get a hold of. Waldman says the existence of this information means that banking executives “will be specific targets of Social Engineering and hacking attacks.”

    It remains to be seen if any of the leaked information has led to attacks on individual banks. Waldman certainly thinks they’re at risk, but you would hope that banks would be wary of any attempts to solicit info after this latest attack.

    We’ll continue to follow the exploits of Anonymous in #OpLastResort. It doesn’t appear that the hacktivist collective is done just yet, and likely has more attacks planned in the coming weeks.

    [Image courtesy Wikimedia Commons]

  • Would You Do Your Banking On Facebook?

    Would You Do Your Banking On Facebook?

    Can you imagine a world where all of your financial transactions are going through the same account as all of your photos, status updates, videos, game playing, and music discovery? Facebook certainly can, and that looks to be the goal the company is trying to achieve. It’s been obvious for a while that Facebook will make a major push in payments, but it doesn’t end there. Facebook is reportedly looking to get into the banking business.

    Would you ever do your banking with your Facebook account? Let us know in the comments.

    According to a report from CNN Money, the company has been talking to banks about offering solutions that would allow bank customers to do their banking and engage with their banks using their Facebook accounts. Lauren Barack reports:

    “There are certain things, whether itʼs financial services, or banking where I donʼt necessarily want my friends to know exactly what Iʼm doing, right?” David Robinson, Facebook’s director of global marketing solutions, U.S. financial services, asked a crowded room of bankers at a Securities Industries and Financial Markets Association (SIFMA) seminar in New York late last month. “I want to be able to go in and have an experience with my advisor or my bank and have that be a one-on-one experience.”

    Facebook is quietly planning just such an offering with Australia’s Commonwealth Bank. Currently in an internal beta, with the first version built in March, the application is expected to launch sometime this year to customers. It will allow Facebook users who are bank customers to make payments to third parties as well as Facebook friends through the social media channel, according to the bank. Commonwealth will secure transactions with its own authentication system — similar to how payments are secured on its online and mobile banking site, a spokesperson says.

    Even without bank partnerships, Facebook is already looking to provide some banking-type services of its own. Much like PayPal, Facebook users can keep real money in their accounts. It seems like only a matter of time until it becomes an accepted form of payment at businesses around the world.

    Last month, the company made a very significant announcement, when it revealed that it would ditch Facebook Credits (historically used to pay for virtual goods within Facebook app) in favor of real, native currencies (Dollars, Pounds, Yen, etc.).

    The company didn’t reveal any specific plans to offer payments for goods and services in the physical world, but the move clearly puts Facebook in a position to compete more directly with PayPal (which you can use to pay at places like Starbucks, by the way).

    Over 900 million people have Facebook accounts, which are easily accessible via mobile phones, in users’ pockets at most times of the day. If Facebook can convince users to keep their money tied to their Facebook accounts, the company could have a tremendous advantage in the payments space, particularly since users are already spending so much time interacting with content with those accounts.

    Facebook obviously has a major hurdle to climb before the majority of users start putting their money into their Facebook accounts, or doing any banking with them. The company doesn’t exactly have the greatest reputation when it comes to user privacy, and that’s a major problem when you’re talking about money.

    It’s one thing put your status updates on the site, upload some photos, and share what music you’re listening to on Spotify. It’s another to trust the creators of “frictionless sharing” with your finances and associated information.

    At least Robinson made a point to mention that there are things (like banking) he doesn’t want his friends to know about. It sounds like Facebook would at least offer the appearance of a privacy net around any banking endeavors, but getting users to put that much trust into the company who had to be regulated by the FTC for privacy-related issues, may be no easy task.

    Of course, the same thing could be said of a major competitor.

    Do you trust Facebook enough to keep your money in your Facebook account? Would you ever consider banking with Facebook? Let us know in the comments.

  • Anonymous: #OpGlobalBlackout Targets Banks, Facebook

    Anonymous is back with their grandest threat yet.

    This past week, an innocuous YouTube video was posted titled, “Anonymous Message to Congress.” The video was made in response to the shutting down of MegaUpload on Thursday by the federal government. This, as we reported, led to Anonymous’ largest coordinated attack in their history with over 5,000 people taking down over 10 federal and industry Web sites.

    What is your opinion about what Anonymous are doing? Share your thoughts here.

    The video, which you can watch in its entirety below, is phase one of #OpGlobalBlackout.
    They do recognize that MegaUpload contained copyrighted content, but say that the take down was not about copyrighted materials. Anonymous demands that MegaUpload be reinstated within 72 hours.

    Anonymous claims that they have gained access to the servers for the United Nations, PlayStation Network, Xbox Live, US Bank, Capital One, Chase Bank, Twitter, Facebook and YouTube. If their demands are not met, they will take down all of these servers.

    For the banks, Anonymous claims that they have the account info of every client at these banks. They want to reassure citizens, however, that they are not going to compromise their information. They only want to make a statement to Congress.

    As for Congress, they have a very special message – “To those who support PIPA and SOPA. To those congressmen who want to vote yes on these bills. We are not fucking playing.”

    This has essentially turned into a game of chicken between Anonymous and the U.S. Government with the Internet in the crossfire.

    Mike Masnick provides an embed of the government’s case against MegaUpload:

    78786408-Mega-Indictment

    He raises a rather interesting point about the government’s case against MegaUpload in that…

    The indictment points out that Megaupload did not have a site search, by which users could find material. That’s interesting, but it seems like an odd piece of information in making the case. Other copyright cases have specifically found that having a search engine is part of an inducement claim — so there’s an argument that the idea not to have a search engine wasn’t so much “conspiracy,” as it was an attempt to follow the guidance of the court and to stay legal. To use the lack of a feature, that previously was shown to be a problem, as evidence of a conspiracy is crazy. Damned if you do, damned if you don’t.

    Here’s what some people are saying about #OpGlobalBlackout:

    #opglobalblackout Why not do it now? 28 minutes ago via Twitter for iPhone · powered by @socialditto

    Let the game begin ! #OpGlobalBlackout 47 minutes ago via web · powered by @socialditto

    #OpGlobalBlackout I am With you all the way 😀 No Matter what you do Take down Xbl, PSN, FaceBook Whatever. 1 hour ago via web · powered by @socialditto

    #OpGlobalBlackout #Anonymous Could this be the beginning of what is supposed to happen in December #2012 ?http://t.co/5zgbLv5l 1 hour ago via web · powered by @socialditto

    #opglobalblackout hope it’s real! 2 hours ago via Twitter for iPhone · powered by @socialditto

    If #opglobalblackout is legit, then this is about to get really crazy… Buckle up people! 1 day ago via Twitter for iPhone · powered by @socialditto

    What do you think of this “Message to Congress”? Let us know in the comments.

  • Apple, Overdraft Fees & Feet

    Today’s infographic round-up looks at just how big Apple really is, as well as bank overdraft fees and freeing your feet.

    View more daily infographic round-ups here.

    The things that are smaller than Apple:

    by visually via

    Overdraft fees:

    Feet:

    Free Your Feet
    Created by: X Ray Technician Schools

  • Now You Can Deposit Checks Into PayPal With Your iPhone

    Update: As far as availability, PayPal tells us, "Mobile Check Capture is currently available in the US only. The underlying technology that makes this possible is based on legislation passed by US Congress in 2004 as a result of the 9/11 attacks. The legislation, called "Check Clearing for the 21st Century," or "Check 21," gives US financial institutions the opportunity to clear checks using imaging technology rather than transporting the paper itself. We use technology provided by Bankserv to make this possible for our US customers. We are always on the lookout for ways to improve our customers" experience in all 190 markets in which we operate and decided to implement this great new service in the US. If the legislation changes in other countries, we will look to offer the same service in those countries."

    Original Article: The feature has been rumored to be coming for a while, but PayPal announced today that the latest version of its iPhone app lets you transfer checks into your PayPal balance for free, by simply taking a photo with your iPhone. 

    "The introduction of Mobile Check Capture marks the third significant features update for the iPhone 2.7 app, reinforcing PayPal’s commitment to providing consumers with an on-demand digital wallet," a spokesperson for the company tells WebProNews.
     
    Should banks be worried? Comment here
     
    Some banks have already been utilizing similar technology, but it’s interesting to see it coming from PayPal, and could lead to a lot of people simply setting up PayPal accounts rather than checking accounts or savings accounts, simply for the convenience factor.  
     
    PayPal Adds Photo Check Deposit Feature to iPhone App
     
    "We all agree that the future of money is digital, so it’s hard to believe that there are people and businesses in the U.S. still using an analog technology that’s 400 years old – yes, I’m talking about checks," says senior director of PayPal Mobile, Laura Chambers. "Have you ever been handed a check and thought about when you’ll have a chance to get to the bank to deposit it? I’ve carried checks around for months before finally making the time to run to the bank or ATM to deposit them. That’s all about to change."
     
    PayPal uses BankServ, a money transfer and payments technology company for its mobile check capture feature. 

    Will you use this feature? Let us know