Mobile may be future wallet

Chips in cards that allow contactless payment could start to appear in mobile phones. And with phones now offering Web access, managing accounts will be in the palm of one's hand, writes MyFinances.

Dan Salmons, director of payment innovations at Barclaycard, claims the days of plastic are numbered. "In the long-term we will see the death of plastic," he says. "By 2012, paying by mobile phone will be completely normal, and commonplace."

O2 has already started the movement in the UK, while similar moves have occurred overseas. Meanwhile Barclaycard has signed a deal with Orange.

Barclays has revamped its online banking Web site with improved navigation and features aimed at protecting clients against fraud, reports Computing.co.uk.

Apart from the usual banking functionality such as money transfer and payments, the new Web site has a clearer layout, intended to give easier access to functions.

With the new site, clients will be able to notify the bank that they wish to use their debit card overseas among other account maintenance activities.

Fiserv is evaluating a cheque imaging system that enables consumers to deposit cheques using their mobile phones, says US Banker.

The banking technology provider is testing software from Mitek Systems with some of Fiserv's clients and hopes to expand the programme, said Rod Springhetti, Fiserv's vice-president of business planning for global payment solutions.

He said Fiserv is still trying to determine whether it should position Mitek's Mobile Deposit software as a remote deposit product or a mobile banking product but that he is confident it will find an audience.