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Banking Timeline

By dcjnr

  • Online Banking

    This service give members the ability to do normal transactions that can happen at a local bank such as deposits, transfers, cashing checks, and paying bills. Nearly all banking institutions have the ability to service online banking.

  • PayPal

    Paypal is a company that allows individual parties to transfer payments through funds transfers. Their platform allows users to create an account where they can link their credit card or checking account to transfer funds.

  • Mobile Banking

    o Mobile applications are introduced to cellphone and give banking a boost that was safe. There was easy navigation and the images were constantly upgraded for a better customer experience..

  • Online Banking Mainstream

    80% of banks offer online banking, more users are using online banking because of its advantages and benefits.

  • PayPal's Explosion

    Paypal was initially offered through eBay and was used 70 percent of the time to make financial transactions.

  • Evolution of Internet Banking

    o Mobile and online banking begins to grow at a faster rate with new services being available to customers. These services include mobile check deposits and EMV chip cards.

  • Digital Wallet

    Google launched mobile banking. This is making financial transactions on cellphones, tablets, and other mobile devices.

  • Apple Pay

    Apple launched its version of mobile banking for their devices. It gives the same features as Google Pay.

  • Online Banking is The Norm

    All customers now expect their bank institution to allow online banking. Some banks are now only online banks without physical branches. Banks that have become Internet-only banks have lowered their overhead and have produced innovative services for their customers.

  • Zelle

    Zelle is an additional peer-to-peer money transfer system that is used by many banks across the United States. Because of the popularity of PayPal Zelle gives customers instant transfer to their accounts and removes third parties.