Citi Sees Weak Demand For Mobile P2P Transfers, For Now
"Citigroup Inc. is learning many consumers today do not share its enthusiasm for mobile payments.
Citi, the first major bank to evaluate mobile transfers, has determined that even the people most likely to consider their phones a useful way to send money are still years away from embracing the technology.
The banking company began testing mobile person-to-person transfers in 2008, but quietly shuttered the program in December, concluding that consumers are only now starting to understand the capabilities of their increasingly sophisticated phones."
Europe gears up for SMS- based mobile payments
"Europeans now seem to be willing to pay for goods from their phones and with the successful trial in Sweden; the continent seems to be ripe enough for SMS-based mobile payments to take off. 20% increase in sales of the seven vending machines in two Stockholm underground stations was reported where the service was trialed by the payment and messaging equipment provider, Ericsson IPX, besides boosting carrier’s ARPU through increased SMS traffic."
First Data, Tyfone Partner for MicroSD-based Mobile Payments
"First Data Corporation has announced an agreement with Tyfone to provide SideTap micro secure digital (MicroSD) memory cards equipped with Tyfone’s patented technologies to enable most mobile phones with a memory slot to function as a mobile contactless payment device.
Unlike solutions that are tied to specific merchants or financial institutions, the MicroSD card powered by Tyfone technology lets the card work like an actual mobile “wallet.” The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open-loop and closed-loop scenarios."
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