Mobile Banking Updates - Aug 4

Payments the new competition battleground in banking
"Today’s announcement by Woolworths that it is to move into mobile telco services with Optus paves the way for the retailer to offer debit and/or loyalty card products via mobile devices. It’s no secret that Woolworths has ambition to issue more cards, and since it wound down its EzyBanking relationship with the Commonwealth Bank, it has embarked on a relationship with HSBC to issue financial products, including the Everyday Money credit card."

Intuit GoPayment for iPhone Now Available on iTunes App Store
"Intuit has announced that its Intuit GoPayment application - providing the ability to process credit card payments using an iPhone or iPod touch - is now available on the iTunes App Store. According to Intuit, 'the free download turns iPhone or iPod touch into an affordable and hassle-free credit card terminal.'"

MoneyGram, Affinity Global Services Launch Mobile Money Transfer Service
"MoneyGram International and Affinity Global Services have announced an agreement 'that will enable mobile money transfer receives in important markets around the globe, bringing greater convenience and extending the benefits of MoneyGram services to a new category of consumers. The MoneyGram and Affinity Global Services alliance will allow consumers to use MoneyGram’s agent network of over 180,000 locations around the world to send money to an account associated with a mobile device.'"

Securing Mobile Payments - It's Still Early
"Mobile payments are exciting, no question about it. The very idea of allowing consumers to buy stuff anywhere, at any time, with the touch of a button, gets retail, banking and communications executives to the point where you almost have to hose them down. So, what better way to ruin the party than to bring up security and compliance issues?"

Western Union Moves to Further its Mobile Presence
"As Western Union's (Englewood, Colo.) offerings widen to the mobile channel, it decided to launch an initiative that it says will help strengthen the brand and present a more consistent feel to its users worldwide. The Digital Vendor Program is intended to extend the reach and accessibility of Western Union Money Transfer services to mobile finance initiatives in Latin America, Africa, the Middle East and Asia."

Apple iPhone can be hacked via SMS system invisibly for a user
"Security experts at the Black Hat conference in Las Vegas, one of the world`s top forums for exchanging information on computer security threats, said that iPhones are not entirely secure and warned Apple of flaws that hackers can exploit to take control of the popular device, using the tactic for identity theft and other crimes."

Payment via mobile catches on
"PAYMENT through mobile phones is fast catching on in Malaysia, thanks to the high mobile penetration rate and quest for convenience. Realising this, many banks are making a beeline to offer mobile payment services."