This post is part of the “Future of Business” series, which examines how cutting-edge technologies are rapidly reshaping our world, from how businesses run to how we live. “The Future of Business” is sponsored by SAP.
Why go to the bank, write a check, or use cash when it can all be done on your smartphone?
Whether you’re looking for the latest financial news or a way to split a check with your friends, here are a few financial apps you need to take a look at.
Square is an app that lets you accept credit card payments. The app deposits the money directly to your checking account, but takes a 2.75% transaction fee. If you have a small business, you can pay $275 per month and Square won't charge you the transaction fee.
The company sends each customer a free accessory that plugs into your smartphone's headphone jack and lets you swipe credit cards.
Mint pulls in data from your personal bank accounts, student loans, 401k, credit cards, and just about everything else to help you manage your debt and finances. It can tell you how much you owe and help you design a payment plan to reach your financial goals.
Google Wallet is Google's mobile payments service for select Android phones. It uses your phone's near field communication (NFC) chip to communicate with special payment pads at certain retailers. All you do is tap your phone on the pad and your payment goes through.
Price: Free for select Android phones
Most major banks have smartphone and tablet apps that let you manage your account, make payments, and deposit checks just by snapping a photo of them.
Here are a few links to the biggest banking apps:
- Bank of America: iPhone/iPad and Android
- Chase: iPhone/iPad and Android
- Ally: iPhone/iPad and Android
- Capital One: iPhone/iPad and Android
- Citi: iPhone/iPad and Android
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