From travel budgeting to currency trading to the concept of a cashless society, a number of mobile trends are gathering steam in the finance space
SINGAPORE, April 24, 2013 /PRNewswire/ -- The world's Internet denizens are increasingly embracing mobile computing. It is not hype. A growing body of evidence supports the notion that the mobile web will free us from the constraints of the desktop.
As more of our everyday online experiences -- email, banking, shopping, networking -- happen on mobile devices, it is becoming second nature to take care of our financial business while we are on the go. With that in mind, here are five mobile finance trends that will continue to grow this year:
*Cashless Payments
Though paper cash and coinage will not disappear anytime soon, the idea of living in a cashless society is gaining momentum. Smartphones are handier than searching for a bank machine. It will be a slow creep but people are creatures of habit and they like convenience and security. Consider the 2012 Summer Olympics in the U.K. It was a beta test and a springboard for VISA's contactless payment technology. The push to encourage attendees to make routine payments with their mobile phones went over swimmingly.
*Social Media for Investors
Mobile technologies and social media are birds of a feather, which is driving flocks of developers to create apps for investors. StockTwits, for example, is a Twitter-inspired financial communications platform where investors can follow traders and markets that interest them while getting a personalized stream of news, charts, and ideas. The platform continues to attract users and content partners such as CNN Money, OANDA, and Yahoo! Finance.
*Currency Trading
Foreign exchange (forex) trading, as a complementary asset class to equities and fixed-income instruments, has been on a desktop growth spurt since the early 2000s thanks to the emergence of electronic market makers like OANDA. Now such innovative firms are bringing the desktop trading experience to smartphones and tablets, with mobile forex trading apps that give users the ability to track real-time exchange rate data, set price alerts and notifications, monitor news, and analyze technical charts while on the fly.
*Personal Finance
Smartphones and tablets put money management at your fingertips anytime, anywhere. Mobile apps from Mint, Pageonce, PocketMoney and others provide a dashboard view of all your financial stats in one place. They use charts, graphs, and message alerts to make it easy to track your spending, bill payments and budget issues, as well as monitor your investment goals.
*Travel Budgeting
When travelling for business or pleasure, it is much easier to keep expenditures in check with a mobile device in your pocket or purse. Tools like the popular mobile currency converter apps from OANDA help you quickly calculate foreign exchange rate conversions using the same daily filtered rates relied on by multinational corporations, auditing firms, and global banks.
Note to Editors:
About OANDA
OANDA Corporation has transformed the business of foreign exchange through an innovative approach to forex trading. The company's leading online trading platform, fxTrade, introduced a number of firsts to the marketplace, including immediate execution; instant settlement on trades; trades of any size between one unit and 10 million units; and interest calculated by the second. The company's many awards attest to the power and flexibility of its trading platform. In 2012, OANDA was named "Best Forex Provider" by the Financial Times and by Investors Chronicle; "Best FX Broker" by Forex Magnates; and was recognized by Investment Trends Singapore as providing best "Value for Money" and "Highest Overall Client Satisfaction".
OANDA was the first online provider of comprehensive currency exchange information, and today the company's OANDA Rate® data are the benchmark rates for corporations, auditing firms, and global banks.
OANDA has six offices worldwide, in Chicago, London, Singapore, Tokyo, Toronto, and Zurich. OANDA is fully regulated by the U.S. Commodity Futures Trading Commission (CFTC), the U.S. National Futures Association (NFA), the Monetary Authority of Singapore (MAS), the Investment Industry Regulatory Organization of Canada (IIROC), the UK Financial Conduct Authority (FCA), and the Japanese Financial Services Agency (FSA).
All other trademarks, trade names, logos or service marks mentioned in this document belong to their respective owners.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Media Contact:
Cognito for OANDA Corporation
Chua Ee Ghim
+65-6818-9025
OANDAPR@cognitomedia.com
