Mobile Payments Spurts Up, Apple Seems to Lost the Plot

People are taking up the mobile payment platforms whole heartedly rather than being extremely concerned in the recent times. An Accenture survey brought out some interesting facts which show that 40 percent of the North American consumers are actively using the Smartphones to make a payment at merchant location. Furthermore the 60 percent consumers who had kept themselves aloof from the mobile payment cited mainly security worries and privacy concerns. But still they show a tendency towards using it once these issues are sorted out.

Payment Technologies Improvement Is Demanded By Consumers

This survey also pointed out that the consumers are embracing the alternative forms of payments as they are quicker and much swifter than the traditional banking methods. Banks are quite sceptic about it and they are paying their keen interest on further developments. The payment technologies are expected to continue to evolve in coming times and the financial intuitions would be required to upgrade their middle and back-office systems in order to supports the customer demands for faster and more real time digital payments. It is the consumers who are driving the changes in the payments and the institutions have to adapt o fulfil their needs.

Apple Pay Promises To Provide Better Services

The Apple made biggest shake up in mobile based payment platform when it announced its feature rich payments system, tentatively titled Apple Pay. This NFC compatible system would allow the users with iPhone 6 and 6 Plus to make payments over 200,000 retail locations in the United States. Apple boasts a number of features which is expected to eliminate the consumers top mobile payments concerns.

Apple Gets a Jolt from MCX

MCX is a consortium of over 70 of the largest retailers in the United States which had came up with their own version of mobile wallet called ‘Current C’. These merchants have a huge clout and they are control in one in five retail dollars spent in the US stores. Furthermore they had also announced that they would be accepting the Apple Pay in their stores.

Consumers Sticks With Major Card Providers

This survey has also pointed out toward the trend of sticking up with the established and trusted credit card companies such as Visa, MasterCard and Amex which stands at 72 percent. Another 70 percent has said that they use PayPal as an alternative. 79 percent mobile users who find discounts and coupons based on their past purchases find it attractive. 29 percent had affirmed that they are willing to be tracked but only by trusted merchants.

Millennials are driving the changes in the mobile payments systems. They come from the age group of 18-34 and they are actively using mobile wallets. Report suggests that 30 percent of them are eager to try out wearables as a payment device, 29 percent of them uses PayPal at least weekly and 13 percent use digital currencies today. Apple Pay has a unique ability to change the consumer behaviour on a larger scale but their efforts would be based on satisfying the millennial first, if they wish to win over other competitors.

How to Find the Best Prepaid Debit Cards

Prepaid debit cards were introduced to provide a medium of quick and handy payment transaction to the consumers. They were relatively fast than the traditional cheques in the business operations. Prepaid debit cards very soon made their in the modern banking solutions mainstream than expected.

Statics projects that almost more than $200 billion dollars are loaded on it in each fiscal year. These cards also give additional advantages to the consumers like mobile check deposits, direct deposit and check writing. Most of these prepaid cards costs very little in using and adds no more than few dollars a month.

Ranking of Different Prepaid Debit Cards

Ranking the prepaid cards is a challenging work. The fees attracted by the bank on the prepaid card essentially depend upon its usage. Same kind of card could a particular almost nothing while another person who suffers from frequent cash loads and out-of-network ATM withdrawals would end paying much more amount. Consumers taking advantage of the direct deposit or those who loads certain amount of their card each month as well as who utilizes for limited number of transaction would end up in attracting significantly lower fees.

The Best Prepaid Debit Cards For The Consumers

After carefully analysing the fees charged by the different banks on their specific kinds of pre paid debit cards, this list has been compiled which gives the best options available for the consumers.

American Express

American Express leads the chart with its two cost effective prepaid cards which are tentatively named as the Bluebird and Serve. In reality the Bluebirds could be better described as a checking account rather than a genuine prepaid card. Both of these pre-paid comes with additional features which are appreciated by it consumers. These additional features are checking writing, money management tools and online bill pay. Both of these cards attract extremely low fees than other cards available in the market.

Kaiku

Kaiku is prepaid Visa card which offers low and quite simplified fees which costs just $3 per month covering all the services. The services provided by this are mobile check deposits, direct deposit, a intuitive & secure mobile application as well as a ‘Funds-Ometer’ which tracks how the money is being spent by the cards in an efficient manner.

Walmart MoneyCard

Walmart offer its prepaid debit card with both Visa and Mastercard. Like other it also comes with low fees, a dedicated mobile app as well as free cash reloads at the Walmart stores with the preferred version of the card.

Mango Money

This is a prepaid MasterCard which attracts low fees which is just $3 per month. It also gives a saving account option to its consumers and pays 6.00% APY in return which is beneficial in its own unique way.


Prepaid debit cards acts as an alternative for the consumers who have trouble in establishing or improving their credit record. However it would wise for the customers to become aware of the various additional benefits and different kind of fees charged by the banks before opting for a specific debit card.

Stock Market Rebound Lowers Gold Prices

Gold Prices Lower

The bounce in the stock markets all over the world at the starting of the trading week has pressurized the U.S trading early on Monday, as reflected in the moderately lower gold prices. A bearish outside market phenomenon, which is working against these precious metals, is also the reason for the higher index of the U.S dollar on this day. At $1,210.00 an ounce, February Comet Gold was last down $12.50. At $1,210.25 an ounce, Spot Gold was last down $12.20. At $16.84 an ounce, March Comet Silver was last down $0.227.

Crude Oil’s Status

Due to last week’s selling pressure, the World Stock market prices were comparatively higher on Monday for corrective bounces. The past few weeks have seen plunging price of crude oil. This has frightened the stock markets, while the consumer at gasoline pumps have benefited.

The January Nymex crude posted a corrective bounce after falling to a five-year low of $56.25 overnight. Libya, a major oil-exporter, is limiting selling interest in oil, due to some fresh violence within the country, at the starting of the trading week.

Incidents over the World Affecting the Market

Not hovering much below its recent four-year high, The U.S dollar index was firmer on Monday. For the past few months, the bearish underlying factor for the sector of raw commodity has been the stronger greenback.

The Prime Minister of Japan, Shinzo Abe, after his much expected and anticipated election victory on Sunday commented that he will continue in his endeavor to boost the Japanese economy, which is presently moribund.The terrorist situation in Sydney, Australia where a gunman is retaining hostages at a café is also being kept watched by the markets, in suspicion of terrorist links.

The FOMC Meeting

A meeting of Federal Reserve Open Market Committee (FOMC) that is to be held this week for discussing the monetary policy of the U.S is being anticipated by the traders and investors. Many believe that the monetary policy hawks will be favored as the Fed meeting is expected to change the statement wording slightly.

A timeline to raise interest rates might also be further elaborated by the FOMCin the meeting, as the interest rates hasn’t been increased by the Fed in six years. U.S. economic data that is to be released on Monday includes the Empire State manufacturing survey, NAHB housing market index, industrial production and capacity utilization and Treasury international capital data.

In the Near Future 

Technically, in order to lower chart consolidation after recent gains, the gold futures of February have seen sideways. The overall near-term technical advantage is still in possession of the bears. A closing above solid technical resistance during the December high of $1,239.00 is the next year-term upside price breakout objective of the gold bulls.

A closing of prices below solid technical support of $1,184.80 is the next downside near-term price breakout objective for the Bears. The first resistance is observed at $1,221.00 and then again at the overnight high of $1,225.00, while the first support is generally observed at the overnight low of $1,207.00 and then finally at $1,200.00.

Things a College Student Know About the Personal Finance

College time is the best time jump start your financial future which would be beneficial for you long run. Personal finance and investment management habit should be inculcated from the very begin and being an ample undergrad is the best time to get things in your control. Online websites and portals provide information facilities your decision by giving you in-depth reviews and guidance about the popular investing opportunities. Being a college student gives you the biggest advantage over other investors i.e. you have ‘time’

Take Heed of Situation and Act 

Second term is generally the time when the various bills incurred in the first term of your college year starts to catching up with you. This is the time to take right judgement and to review things which are most important and which could be done without for some time. Proper planning and intuitive thinking would help you in paying bills in time and saving also.

After analysing the personal finances if you find that certain products or services appear too much in your budget like beer, cigarettes, clubbing, etc; then take heed of the situation and try to cut back on these as much as possible.

Think Rationally, Don’t Invest In Things You Don’t Need

Young adults are known to be crazy for the tech products. They are factor which derives the sales of the giant tech companies. Students should understand that there is no need to buy every new offering by the Apple or Samsung or some other company. If you try to think rationally then you will find these products are not completely new innovation rather they offer enhanced version of the previous products, even the product you are using currently could last for three to four years which means your college could be over with one product as well.

If you are an avid buyer then you should then try to apply different methods while buying. ‘Buying cheap as possible’ and ‘buying best quality possible so it lasts’ both of these methods could be applied in different circumstances. As a student and consumer you must try to get full ’value’ of your money by buying products which gives you complete satisfaction which ruining your personal finances.

Socialize as Much as Possible

College is not just a place for getting knowledge from the teachers and professors rather it is a place which provides huge opportunities for socializing in a healthier manner. College is a place where we make friend keeps them for life long. Take part in different social events, contribute as much as you can but don’t let it have a negative effect on your budget.

Certain Tips Which Will Help Students in Long Run

•  Use only one credit card and build a good credit history record. 
•  Never borrow money unless it is extremely important. 
•  You can easily buy books at half of it price form online portals and many other things as well. 
•  Share room and goodies with your friend it will help in lowering your expenses to a great extent. 
•  Do not invest unless you are sure about it.

Gold Prices Ends Fluctuations As The Market Consolidates

Gold prices finally find a steady ground after the Friday US trading. The continued safe-haven demand and a lower U.S. Dollar index are limiting the selling pressure in gold which is a good sign. February Comex gold was last up by $1 at $122.20 an ounce while Spot gold was last down by $1.40 at $1226.50. March Silver last traded up by $0.048 at $17.155 an ounce. Both gold and silver near term technical had shown a considerable improvement this week.

Falling Price of Crude Oil

Market is still focused on the falling price of crude oil. January Nymex crude had hit another five year low $58.80 a barrel. International Energy Agency has released a report which predicted that the world demand for the crude would reduce in 2015. The consumers are cheering the falling of the gasoline prices at the pump while the traders and investors are greeting the decline with anxiety. World Stock markets are also not faring well either and they are under selling while the U.S. stock indexes are also seems to be lower in the pre-market trading on early Friday. The sell off trend in the world equities has benefitted safe assets mainly gold and U.S. Treasuries this week.

Other Markets Also Reels Under Pressure

The Bank Of Russia has once again intervened in the currency market to strengthen its ruble which had hit another record low against the U.S. dollar. The ruble is astonishingly down by 44% against the U.S. dollar this year. European Union also shows below the market expectation figures which are a cause of worry. EU industrial production rose by just 0.1% in October and was up by meagre 0.7% on year-on-year basis.
Among the Asian market China showed a stronger than expected bank loan activity in the month of November. On other hand Japanese Yen is suffering from selling pressure and volatile trading this week. Japan is soon to go through important elections from this Sunday.

Traders and investors are eagerly looking ahead for the next week when Federal Reserve’s Open Market Committee (FOMC) will meet to discuss about U.S. monetary policy.

Gold Seems To Settle After Huge Fluctuations

February gold futures are showing sideways consolidation after large gains in Tuesday trading which is not unusual. The gold bulls are almost reaching out for price breakout objective to register a growth against the solid technical resistance and they had successfully ended the week at high of $1239.00. Bears’ next near-term downside price breakout objective is closing prices below solid technical support at $1,200.00. First resistance is seen at the overnight high of $1,228.90 and then at Thursday’s high of $1,233.40. First support is seen at the overnight low of $1,218.00 and then at $1,210.00.
This Wednesday the March silver futures hit its six week high. The Silver bulls’ next upside breakout objective is closing the prices above the solid technical resistance at the high of $17.825 an ounce while silvers ended their week low at $16.165. The First resistance was seen at the week high of $17.355 and next at $17.50. The next support could be seen at Thursday’s low of $16.945 and at 16.81.