Money Matters - Simplified

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U.S. banks plan to use email, mobile to transfer payments

The three biggest US banks are busy in discussions to connect the payment networks.Plans are in pipeline to link digital payment systems with each other to get a relief from the cash and cheque payments. This will help more number of consumers to easily transfer cash payments with the help of messages sent from mobile phones and electronic mail.

3 leading US banks join hands for online payment service

Three leading banks of the United States, Bank of America, JPMorgan Chase and Wells Fargo have come together to introduce a service that would allow customers transfers funds through text or e-mail messages.