Though most of the industry is still working on getting basic mobile banking up and running, Citibank, U.S. Bank and Standard Chartered Bank, along with Mastercard and Visa, are showing the industry what’s next, offering consumers shopping applications that combine location-based services with merchant offers to deliver coupons and discounts to consumers’ mobile phones, usually with the requirement to use a bank-branded card.
“This is a race to establish strong consumer engagement,” says Bob Hedges....