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Mobile Banking
“Making Cash, Checks, Credit Cards Obsolete”

Abstract
With the growing and widespread use of smartphones applications for both the iPhone and Android there is very little you can’t do virtually. From banking to shopping, in-person visits to Skype and face time, putting a key in your car to start it to remotely starting your car and setting the temperature, being at home turning on lights and adjusting your thermostat to doing the same functions remotely using a smartphone. Smartphone applications have offered instantaneous, real-time efficiencies in our day-to-day life. Two generations ago you had to physically get up to change the channel on your television. Now you can talk into the remote control for channel changes and special programming. The same goes for banking. Everything is about speed of transaction and efficiency. Cash and credit card transactions are becoming obsolete with the advent of smartphone applications. Today you can shop, make purchases, and make bank deposits and transfers without leaving the comfort of your home. This paper explores how new technology and smartphone applications are used for mobile banking rendering cash, checking and credit card transactions obsolete.
Keywords: Mobile Banking, Security, Cost and Benefits, Future Technology

Mobile Banking
“Making Cash, Checks, Credit Cards Obsolete”
Mobile banking is becoming increasingly popular with over a billion mobile devices in use today. If you are a smartphone user, it’s not if you do mobile banking, it’s when or how you do mobile banking. Mobile banking has changed how users conduct purchases (micropayments and macropayment-small and big purchase items). “Mobile banking services are valued by users because of the inherent time and place independence, and the overall effort-saving qualities.” (Mallat, Rossi, Tuunainen, 2004). With the download of apps

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