Mobile Banking Updates - Jan 18

Colorado Banks Donate Percentage of Transactions to The Salvation Army
"As the world mobilizes to aid the victims of Jan. 12th 7.0 magnitude earthquake in Haiti, two community banks in Colorado are helping consumers turn day-to-day transactions into donations. The State Bank and Park State Bank & Trust are teaming with mobile payments provider, Bling Nation, to contribute one percent of all mobile transactions to The Salvation Army, one of the highest rated charities on CharityNavigator.org."

Mobile Transfers Taking Aim at Cash Payments
"'Dialing for dollars' could take on new meaning this year. At least four mobile transfer systems are set to go live in the next few months, enabling people to send one another cash with their phones. Though the idea has been kicking around for years, bankers say the convergence of two technological advances makes these systems much easier to use, and could turn the phone into an electronic cash replacement. Some executives predict people will be willing to pay for mobile transfers, providing a valuable new source of fee income."

Near field communications vs. the web
"Is the near field communications movement set to really take off anytime soon? There have been many piecemeal steps toward such services, a lot of pilot programs and intermediate moves, such as adhesive strips for mobile phones and cards. One recent report states that 'during 2010, leading mobile network operators, banks, retailers, transport operators and others will be seeking to finalize their NFC business plans ready to launch commercial services in a number of countries from as early as January 2011.'"

Mobile Banking and Payments Feed Customer Experience Lab
"The recurring headlines touting mobile banking and more recently, mobile payments, reinforce my opinion that technology-based innovation in financial services is often ahead of the business-based needs the technology solutions address. Mobile banking over the past 10 years has been a poster child for this phenomenon."

Banks and mobile operators to go head to head for NFC mobile payments business
"Banks and mobile network operators are set to go head to head in a bid to control the market for NFC mobile payments services, according to a new research report published today.

'NFC mobile phones will be used to replace everything from credit cards and loyalty cards to bus and train tickets, library cards, door keys and even cash,' says Sarah Clark, editor of NFCW and author of the new report. 'What hasn't yet been decided, however, is who will win the battle to provide consumers with their new hi-tech mobile wallets.'"