Information Technology Reference
In-Depth Information
Mobile Banking
With mobile banking, consumers can manage their finances from anywhere without driving
to their bank or credit union or booting their computer. Consumers can use mobile banking
to access multiple banks, accounts, and financial services to:
View account balances (checking, savings, Money Market, and credit cards)
Transfer funds between accounts
View and pay bills
Review a history of account transactions
Such capability allows consumers to check their credit card balance before making a major
purchase and avoid having the credit provider rejecting the purchase. They can also transfer
funds from savings to checking accounts to avoid an overdraft.
To begin using mobile banking with their wireless phones, consumers must visit their
bank's online banking site and enroll in mobile banking. They then download the mobile
application to their phone. As a security measure, mobile banking users must enter their
personal PIN to unlock the application each time they use it.
Mobile banking from AT&T is available to AT&T wireless users who bank with Bancorp
South, Wachovia, Sun Trust, Synovus, Arvest, and First Bank. BlackBerry, LG, Motorola,
Nokia, Samsung, and Sony Ericsson manufacture several models of phones that support
AT&T's mobile banking. 31
Mobile Price Comparison
A growing number of companies are employing a strategy that encourages shoppers to do
Web-based price comparisons while they are in the stores. The idea is to drive the shopper
who is ready to make a purchase from one retailer to another based on price and product
comparisons. Web sites, like Google Maps, can be used to locate stores, restaurants, gas
stations, and other retailers while you are on the move.
AbeBooks.com is a Web-only retailer and will accept text messages from college students
containing the International Standard Book Number (ISBN) of a textbook. AbeBooks replies
with a text message containing its lowest price for a new copy of the textbook. If the students
decide to buy from AbeBooks after reviewing the price, they reply by texting “fwd” and their
e-mail address. AbeBooks sends an e-mail to the address containing a link to the
AbeBooks.com page where the topic is listed. The students can then log on to a personal
computer, receive the e-mail, link to the AbeBooks page, and buy the text. 32
BikeSomeWhere.com offers an m-commerce Web site that enables shoppers to do
product and price comparisons as well as buy bikes and biking gear via their cell phones.
BikeSomeWhere wants bikers to use the Web site as a tool to make an informed purchasing
decision. The firm offers free shipping on orders over $75 and consumers do not have to pay
sales tax, which usually makes BikeSomeWhere very price competitive. 33
Barcle allows shoppers using any mobile device with a Web browser to enter the 12-digit
bar code of a product and receive search results showing prices for the same product at
Web-only and brick-and-mortar retailers. 34
ShopLocal offers product location and comparison on mobile devices via a service called
Where from mobile technology vendor uLocate. Shoppers can download the Where appli-
cation using a text message from uLocate. The application works with GPS-enabled phones
and provides comparison shoppers with product, price, and retailer information including
step-by-step directions to the selected retailer's store. The Where service is available for $2.99
per month with users who have wireless phone plans with Alltel, Boost, or Sprint Nextel. 35
Mobile Advertising
While some 58 million U.S. wireless subscribers viewed an ad on their cell phones in February
2008, many advertisers are not yet convinced that mobile advertising is effective and are
taking a wait-and-see approach. 36
Traditional Web sites designed for access by users with personal computers place cookies
on your computer to track your browsing behavior and pass the data on to advertisers and
ad-placement networks. However, the wireless industry service providers block cookies before
they get to the cell phone out of concern that the cookies could provide access to their
 
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