Mobile banking began in the US and other developed markets as a means of providing customers access to account information in innovative, cost-cutting ways. Banks matched the development of mobile phone technology and carrier networks by allowing customers to conduct remote transactions on their mobile phone such as fund transfer and bill payments. Despite their relative silence in the mobile payments dialogue, Western banks are using mobile banking applications to influence consumer behavior and methodically secure their position as the consumersâ preferred processor of mobile payment transactions. This research evaluates developments in mobile banking, beginning with analysis of motivations and market drivers, and examination of bankâs multichannel strategies. It includes an evaluation of the most popular US mobile banking applications. It also includes predictions of the future of mobile banking and the realization of mobile paymentsâ potential.