There is no doubt that smartphone use is ever expanding and the activities we use them for appears to have no bounds. One major area seeing more and more use is mobile banking.

Mobile banking through smartphone devices is on the rise. Bank of America reported over 100,000 mobile deposit transactions per day. Mobile banking represents 8% of banking transactions today; will it be 50% tomorrow? A digital wallet is around the corner, one of the technologies that enable a digital wallet is Near Field Communication, NFC. We have all seen the cool Samsung commercials that show smartphone users’ sharing pictures by touching their phones together. That same technology can process financial transactions. We already have smart phones using a Square Peg adapter to swipe our credit cards, why not just touch phones to make a purchase.

Traditional retail security systems for smartphones do not allow devices to touch their backs since that is where the security sensor typically attaches to the product. Vanguard has introduced a new sensor that provides power to the smartphone and an alarm signal all through one cable into the charging port. Call VPG today to learn more about this exciting trend and our system that can make demonstrating this technology simple.

Source: The Wall Street Journal

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