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Stanford Credit Union creates the first online banking website.
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Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers' accounts, but the facility can be used for payments for any purpose, such as payment of bills, taxes, and other government charges.
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As the evolution of online banking continued, it slowly gained popularity in e-commerce. When big-name banks began to offer online products and services, e-banking seemed to gain legitimacy for consumers. By 2000, online banking had become mainstream: An overwhelming 80 percent of banks in the U.S. were offering internet banking services.
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Apple launches the iPhone and a shift from banking via personal computer to banking via smartphone begins
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Ally Bank joined the ranks of internet-only banks. “The Ally Bank brand was launched to provide customers with a straightforward, customer-centric approach to banking as consumer preferences continue to shift toward online banking,” said Diane Morais, CEO and president of Ally Bank.
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When cellphones turned into smartphones, and began to mimic the power found in most computers, banks have been able to provide consumers with powerful mobile banking apps that allow you to complete your banking from wherever you are. This includes making deposits -- depending on the bank and its mobile app -- checking funds, making bill payments, transferring or sending money.
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In partnership with retailers, banks and credit card companies, Apple launches the iOS mobile payment service Apple Pay in the US
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By the end of 2015, 70 percent of U.S. credit cards and 41 percent of U.S. debit cards will have security chips
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Google Pay payment system launched by Google as a payment method for online shopping
