A number of personal finance services beginner and application ready to go mainstream in the new year, and together, they will have a major impact on the way Americans shop, bank, and keep track of their finances. Some web-based services, but many took advantage of the growth of smartphones, which are now carried out by one-third of U.S. adults — with more inclined to join the crowd in the next few days after receiving the gadget as a holiday gift.
Whether online or mobile, here are some personal finance technologies to watch in 2012:
September launch of Google’s wallet is just one high-profile move towards the use of smartphones to payments, replace the credit or debit card. The technology allows users to wave their cell phone in front of terminal payments and transactions are deducted from the connected bank accounts or credit cards. Expect more options for electronic payments from your mobile service provider and network card next year, and the wider adoption of terminal by the retailer, the public transport system and much more.
Another innovation that is already being heavily promoted is the payment. American Express Co., MasterCard Inc., Visa Inc. and PayPal all offer a way for their customers to send and receive money using links to a variety of accounts and cards. As TV ads depict, if these technologies take off would be no more fumbling for money when it’s time to split checks at a restaurant, and send the money in the city or across the border would be easier, faster and cheaper.