Earlier this year, Western Union agreed to pay $585 million to settle federal allegations that it didn’t do enough to prevent fraudulent transactions. Some of this money is to be paid out to victims of this fraud, but the government is warning people not to let themselves get scammed a second time.. [More]
In a bid to get you in and out of stores quickly and efficiently, Walmart is turning to its digital offerings. The big box retailer plans to roll out upgrades to its mobile app that will allow customers of its pharmacy and money service departments to complete some transactions through their phones and pick up items at new, dedicated “express lanes.” [More]
Over the last year Snapchat has evolved from a system that allows users to communicate through photos that self-destruct after 10 seconds, to a full on chat messaging system that flashed pictures and videos for 10 seconds at a time. Now the social sharing app, which has been the target of numerous security hacks, is offering a new service: Payment transfers between users’ bank accounts.
Walmart’s one-stop-shop just gained new ground. Instead of traipsing to Western Union or another money transfer storefront, you can just send dear old grandma a few bucks once you’ve finished grocery shopping at the superstore. [More]
Popmoney seems like a great idea, and lots of banks offer it to their customers. It’s sort of like PayPal, but without having to deal with PayPal. You send people money using their mobile number or e-mail address. It’s a new offering from Fiserv, a company that you probably haven’t heard of but have most likely done business with indirectly. They handle money transfers behind the scenes for banks, and other financial institutions.