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The History of Mobile Banking, A Timeline

By James Collins

A Brief History

Screen Shot 2014-05-29 at 3.18.13 PM1947: AT&T creates the “Mobile Telephone Service” allowing customers to make calls using a simple, 79-pound device. Teenagers were not impressed: It could not take selfies.

1965: After more than 18 years of work by hundreds of MBA marketing geniuses, AT&T renamed their device the “Improved Mobile Telephone Service”. Limited to just 40,000 subscribers, the system was prone to long wait times and poor service—but that was AT&T’s corporate motto, so nobody noticed.

1973: Motorola creates the first portable device. Weighing in at just two pounds, it was extremely light compared to previous models and was customizable: Users could select from a variety of colors. Of course, color choice depended on what can of spray paint you had lying around.

1979: “1G” service was introduced in Japan. Using regular radio waves, it was susceptible to snooping by future NSA managers as well as certain high school nerds.

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