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Thieves beware: future ATMs will spray foam that helps track stolen cash
ATM thieves are increasingly focused on digital heists, but many of these robbers still prefer old-fashioned currency. They may want to think twice about stealing cash in the future, though, as ETH Zurich has developed a chemical defense system that both deters theft and helps track ill-gotten goods. Based loosely on bombardier beetles, which produce acid to spray attackers, the technique creates a defensive surface on an object (say, a cash box) using film layers filled with hydrogen peroxide and manganese dioxide. Break the surface and you trigger a reaction that covers everything nearby in hot foam -- by itself, enough to ruin the day of any would-be purloiner.
Your bank will pay Microsoft to keep running its ATMs
Believe it or not, roughly 95 percent of ATMs in the world are still running Windows XP -- and that's about to become an expensive problem. Machine designer NCR says that only a third of banks will upgrade their ATMs to a newer OS before official XP support ends on April 8th, leaving many institutions little choice but to pay Microsoft for an extended contract if they still want support. At least some banks plan to update, but they're facing both technician backlogs and steep transition costs; estimates suggest the big UK firms might pay up to £60 million ($100 million) each to make the leap. Whether or not your bank joins the modern era, you shouldn't be surprised if you end up footing some of the bill. [Image credit: Martin Maciaszek, Flickr]
A Simple reminder: Update iOS or else
As soon as Apple updated iOS to versions 7.0.6 and 6.1.6 to fix an SSL vulnerability, TUAW let you know about it. Apparently some people still haven't updated, and app-enabled bank Simple has sent out a tersely-worded reminder to its customers letting them know that if they don't update before Monday morning, they'll be unable to sign into Simple. Although updating is a good thing for any iOS user, it's critical for those who are using banking apps like Simple. As the company notes, "Why the drastic measures? A security flaw was recently found in older versions of iOS, and if your network were compromised (say on a public wifi hotspot), it could expose any data you send. Updating iOS fixes that vulnerability. This measure is part of our ongoing commitment to protecting your banking information." The company also provided the simple steps for performing the update, which we repeat here: "It's easy to update your iOS: tap Settings > General > Software Update > Download and Install. You must be connected to a wifi network in order to download and install the update." If you haven't yet updated to either iOS 7.0.6 or 6.1.6 on your iOS devices, or run the OS X Updater for your Mac, please do so as soon as possible. And if you're not familiar with Simple, be sure to take a look at our review of the service and app.
MMO Mechanics: Balancing game economies
Most players won't need an economics degree to play an MMO, but strong mechanical forces under the bonnet still guide our actions in our favourite titles. Virtually every financial exchange can be broken down into an effort equals economic gain equation: We put in our hours, and the game economy churns out new gear or money. Since so many in-game actions financially reward players, MMOs have developed mechanics that attempt to curtail the inflation game economies usually see. Charging your character for goods and services, bind-on-pickup gear, regular destruction of valuable goods, and player-controlled auction house and farming systems all combine to keep the spiralling amount of coppers falling into player hands in check. In this week's MMO Mechanics, I'm going to look at some ways both sandbox and themepark MMOs automatically rebalance weighted economies by exploring the systems that restrict the free trade of goods and curb players' constant accrual of money. I'll look at how each system functions and how player manipulation adds a new layer of realism to game economies.
EVE Evolved: Designing EVE Onland, part 2
When it comes to living sandbox MMOs, there really isn't a bigger name than EVE Online. Throughout its decade-long history, EVE has produced some huge gaming headlines, delivered record-breaking in-game thefts and heists, and played host to the complex political machinations of dozens of warring alliances. EVE's sandbox design has even made it remarkably resistant to changes in the market, with subscription numbers remaining relatively stable in the face of new releases and the free to play phenomenon. It comes as no surprise then that the sandbox genre is seeing a triple-A revival, with games like Star Citizen, EverQuest Next Landmark, and Camelot Unchained on the way. With the sandbox genre due to explode back onto the fantasy scene, I've been left wondering how much of the core gameplay that makes EVE tick could be easily adapted for an avatar-based game on land. Even features such as EVE Online's trademark territorial warfare and player-run economy have roots in classic fantasy MMOs like Ultima Online, so they should be easy to convert to modern fantasy equivalents. Last week I started this game design thought experiment with a territorial warfare system and free-for-all PvP with harsh consequences for attackers, but there's a lot more to a good sandbox than smashing people's heads in. In this week's EVE Evolved, I delve into the hypothetical world of EVE Onland again and tackle issues of realistic world scale, exploration, economics, and the evils of global banking.
Wells Fargo offering text message receipts at its ATMs starting today
Forward-thinking financial institution Wells Fargo is offering its customers the choice of receiving a text message receipt -- in addition to its e-receipt and email options -- whenever you use one of the bank's ATMs. All that's required to take part in the environmentally friendly scheme is to attach your cellphone number to your account, either online, over the phone or at your local branch. The service is available starting today, and if you'd like to learn more, we've tucked the official release below the fold.
Mt. Gox now requires verification for non-Bitcoin transactions
While the Bitcoin market is advancing toward legitimacy in the financial world, that also means closer legal scrutiny -- and the Mt. Gox exchange is tightening its policies to match. As of today, the institution requires verification for every non-Bitcoin deposit or withdrawal. The move keeps Mt. Gox in line with "strict anti-money laundering rules," and it reduces the chances that security breaches will spark chaos. Verification won't be necessary for pure Bitcoin transactions, the exchange says. Some traders see the new rule spoiling dreams of a truly borderless currency, but it may help reassure those still skittish about virtual cash.
US Bank intros BillPay feature for iOS and Android, lets you set up bill payments with a pic
Judging by recently announced projects like Go Mobile, it's quite clear that US Bank is working hard at keeping up with the mobile banking curve. With today's introduction of its new Mobile Photo BillPay feature, the company's giving customers using an iOS or Android device yet another nifty tool to take advantage of while on the go -- one that's set to make it easy to set up bill payments by simply taking a shot of any invoice and uploading it to an account from within the app. The experience itself is rather similar to what we're accustomed to seeing when doing things like, say, depositing checks, and US Bank's quick to point out that it's one of the first major banks in the US to bring a mobile bill-paying solution to its users. Speaking of which, US Bank account holders can try out BillPay now -- links to download from Google Play and the App Store are after the break.
FIS acquires mobile banking guru mFoundry for $120 million
You may not be very familiar with mFoundry's name, but you'll probably know its work if you're reading this site: it's part of a deal with MasterCard for NFC-based mobile payments, powers many banking apps and wrote the earliest mobile app code for Starbucks. As such, it's no small deal that payment giant FIS just bought full control of mFoundry for $120 million. FIS isn't shy about its aims and sees mFoundry as the ticket to covering a mobile banking space that's growing quicker than other fields. Not that mFoundry will necessarily feel like a pawn -- its audience potentially grows to the 14,000 banks that FIS has for customers. We'll just need to wait until after the deal closes later in the current quarter to see what the union will bring.
Simple brings its banking and budgeting app to Android
The iOS crowd has been able to use Simple's online banking app since May of last year, but starting today, those on the Android side of things also have access to the service. For those unfamiliar with Simple, it essentially hopes to match or replace the other guys by introducing "everything you need to organize your spending so you can save more." This means that in addition to checking account balances, you can also view recent transactions and send or schedule payments. In order to do any of that, however, you'll first need an account -- Simple's taking invite requests now, and those wanting to give it a try should check out the source link to get started.
GoBank is bringing an online-only bank to your iPhone
Prepaid debit card company Green Dot is making the next (logical?) step in its business with the launch of GoBank, a bank that exists only on the web... and on your iPhone. As reported by AllThingsD, a key component of the new bank is a mobile app developed by the team responsible for Loopt, a check-in based social network purchased by Green Dot last year. Via the app and a website, GoBank will let customers maintain a checking account and conduct the usual assortment of transactions free of fees for things like in-network ATM use (otherwise US$2.50 per transaction) and overdrafts. As for a monthly fee, the bank is taking the unusual approach of letting customers decide how much they want to pay per month, from nothing up to $9. GoBank is obviously hoping that customers will opt to pay something, but will supplement revenue by offering the option to create custom debit cards that contain photos and other artwork uploaded by account holders. Standard debit cards will be free, but the personalized plastic will run $9. Back on the app side of things, customers will be able to use it to snap photos of checks for making deposits and send money to others using their email addresses, a la PayPal. The bank is currently in beta (how's that for a weird thing to hear?) and is accepting new customers on an invite-only basis (ditto).
Bitcoin-Central becomes first Bitcoin exchange licensed to operate like a bank
BitInstant may be aiming for a Bitcoin debit card, but it looks like a European Bitcoin exchange will beat it to the punch. After working with French financial regulators, Bitcoin-Central has hammered out a deal with French payment processor Acoba and France's Credit Mutuel bank to become a payment service provider, which allows it to function much like a bank. According to Bitcoin-Central, it's the first exchange of the digital currency to be licensed to operate as a bank and function within the framework of European regulations. Customers will now have funds held under their name -- rather than that of the exchange -- at Credit Mutuel and insured by the Garantie des dépôts, the French analog of the FDIC (Federal Deposit Insurance Corporation). Soon, users of the service will be able to order debit cards that can use Bitcoins and Euros for purchases and cash withdrawals. Yearning for some direct deposit action? In a few months, the organization will be able to accept direct deposits and even automatically convert hard-earned cash into Bitcoins. The virtual bullion has taken its lumps, but this is a development that fans of the currency can be proud of. For more details, tap the bordering source link. [Image credit: Zach Copley, Flickr]
Capital One Bank to accept iPhone check deposits
Joining the growing ranks of iPhone-friendly financial institutions, Capital One is now accepting business check deposits via a standalone iOS app. As TechCrunch reports, the app can't be simply downloaded and used; Capital One business clients must first email the Capital One Treasury Management department (treasury@capitalone.com) and complete the sign-up process. As one of the last major banks to offer such a service, Capital One's decision to launch a totally separate app rather than simply add the feature to its current offering is a bit of a head-scratcher. Still, I think "better late than never" applies in this case, and Capital One's business clients will surely be glad to see this new option hit the App Store.
Mobile banking growing in the US and Europe
Forrester Research released a new report saying mobile banking is growing both here in the US and overseas in Europe. By 2017, says the report, mobile banking will be used by 108 million people in the US, or about 46% of those holding bank accounts in the US. Currently, only about 13% of account holders in the US and 9% of European bank account holders have taken advantage of mobile banking services, but Forrester says those numbers will grow greatly in the next few years. Why? First, mobile banking's various services are growing by leaps and bounds both in numbers and ease of use. Banks today have apps that will let you deposit checks just by taking pictures of them, or transfer money from account to account with just an onscreen tap. Over time, those services will get even easier and more secure, which means they'll see more users. And don't forget, our culture is changing as well. The more we get used to using smartphones for shopping and trading money, the more we'll use them for banking features as well.
Voice assistant 'Nina' lets any app obey commands, makes speech your password
Voice recognition technology from Nuance is all over the place -- in everything from Smart TVs to Beemers. But today, in response to the growth of device-specific voice assistants like Siri and S-Voice, the company wants to take things down a different route: launching a mobile SDK for iOS and Android that any third-party app can employ. Baptized "Nina," the voice assistant won't only be able to understand instructions, but will also identify the speaker using vocal biometrics. That means Nina could potentially pay a bill, arrange a bank transfer, book a vacation or even interact with government services without ever requiring you to enter a password. The video after the break shows just how intimate things could get -- assuming you're able to find a spot where the two of you won't be overheard.
Security researchers find new wafer-thin ATM card skimmers in use
ATM card skimming is hardly a new activity, and neither are card skimmers that continue to get smaller and more discreet. As Brian Krebs of the Krebs on Security blog reports, though, a new development out of Europe has now crossed a key, and potentially troublesome threshold. The European ATM Security Team (otherwise known as EAST) has discovered a new type of wafer-thin card skimmer in use in at least one unnamed European country that's small enough to fit directly in the ATM's card slot -- that's as opposed to most current skimmers that can be well-disguised but generally sit on top of the card slot. As you can imagine, that makes it considerably more difficult to spot for even the most attentive ATM users, but Krebs notes that the skimmer still requires a secondary device like a camera or keypad overlay to record a person entering their PIN.
O2 UK launches new wallet service, helps you empty yours (video)
This may not be the UK operators first attempt at dipping its fingers logo into your pockets, but O2's new mobile wallet does bring with it some de rigeur functionality. Taking a leaf out of Barclays' book, the new app lets you send "Money Messages," essentially text-driven money transfers to any phone number. There's smart-shopping features, too, such as a barcode reader for price comparisons, and daily discount deals to stop the well from going dry too soon. Interestingly, you can also apply for a physical companion card, based on Visa's pre-pay service to bring your virtual wallet into the real world. Not an O2 customer? Doesn't matter, apparently, and the app is "compatible with the majority of smartphones as well as iPads" which we guess means iOS at least, and Android, too, judging by the phones shown in the video after the break.
PayPal's Digital Wallet lets you decide how you empty yours (video)
PayPal has been helping us pay for those impulse purchases for a long time, but now its forthcoming Digital Wallet could see it popping up on our bank statements a whole lot more. Speaking with eBay Ink, PayPal's Sam Shrauger gave a quick demo of some of the new features. As well as the regular payment handling, you'll be able to register gift vouchers, coupons, loyalty points and store credit cards all under one account. This sounds tidy, but more interesting is the ability to change how you pay for something (say, from credit to debit card) up to seven days after the fact. If you want to keep those big purchases on the Amex, that's no problem either, with configurable rules letting you assign different cards to different spending situations, including setting your own custom payment plans. It's not all about buying either, with savings also getting the digital treatment, that's if you haven't doled it all out on gadget rarities. The service is expected to land in May, in the meantime see the new features via the videos after the break.
Cha-ching! IBM's Watson heads to Citigroup to meddle in human finances
Watson's been a busy supercomputer since it took a couple of humans to school on Jeopardy last year -- what with its stint at Columbia and a recent foray into hunting patent trolls -- and now it's taking on the financial industry. IBM and Citigroup recently announced plans to explore how America's favorite supercomputer fits into the realm of digital banking. Under the agreement, Citi will examine Watson's ability to "help analyze customer needs and process vast amounts of up-to-the-minute financial, economic, product and client data," in the hopes of providing rapid, personalized banking solutions. According to Bloomberg, Watson's financial assistance will be provided as a "cloud-based service" and will earn IBM a portion of the revenue and savings it helps generate. The full press release (which makes no mention of a vacation for the overworked machine) can be found after the break.
Barclays releases Pingit mobile payments app, we go hands-on
Barclays Bank has unleashed Pingit, an iOS, Android and BlackBerry app that lets you send up to £300 ($470) a day to family, friends or technically-aware muggers. UK mobile number and bank account holders can get started in minutes as long as they've got one of the Barclays-branded PINSentry tools. You'll be asked to come up with a five-digit code that will lock the app to anyone but yourself (or, you know, that mugger) and then you can start spreading your cash around, baller-style. We set up our own account through the app and if you're curious about our impressions, you can find out what we thought after the break.
