A seasoned PayPal user knows the outdated look of PayPal’s online account experience. Recognizing the need for a new design, PayPal revamped how the website works after a user logs in — with major improvements in the look and the layout.
- Huntington Bank has announced a convenient new feature that allows customers to see their account balances on the bank’s mobile banking applications without having to log in. The feature, called “Quick Balance,” is accessible right from the login screen.
- PayPal has introduced major overhaul of its online account experience. The new design removes much of the clutter and outdated look to which PayPal users are accustomed. It is easier to access the most used features of the online account, including balances and sending money. The design was drawn from PayPal’s existing experience on its mobile apps.
- LifeLock, the service that vows to safeguard consumers’ identities, has decided to close its LifeLock Wallet mobile application because “certain aspects of the mobile app may not be fully compliant with payment card industry (PCI) security standards.” Security on mobile devices have been a focal point for the financial industry — also a reason why consumers may be reluctant to adopt mobile payments and digital wallets. This move by LifeLock reminds consumers that their data isn’t always safe.
- On Wednesday, the Federal Reserve will release the minutes of its last board meeting, which resulted in no unexpected changes to the central bank’s monetary policy. The minutes may reveal more about the discussion over the state of the U.S. economy, especially the April unemployment rate, which took a major dip from March.
- GE Capital Retail Bank is slated to be renamed as Synchrony Bank on June 2, 2014, according to letters sent to customers recently. The name change may help consumers differentiate the bank from GE Capital Bank, another online banking unit of the major U.S. conglomerate. In March, there were reports that General Electric was taking steps to spin off its North American retail financing business as Synchrony Financial.