Mobile Banking Updates - May 11

Mobile Payments on the Small Screen: NACHA Payments 2010 Followup
"A curious thing happened at the recent NACHA’s Payments 2010 conference in Seattle – it was how quickly the person to person (P2P) payment conversation turned to mobile commerce, consumer to business (C2B) and business to business (B2B). Voila! Granted the remittance payment market is ultimately P2P, banks are becoming more comfortable with the use/risk cases and will finally move beyond A2A (account to account transfers) Mom paying Billy at State U to ecommerce, Mom paying the homeowners association and spa (you need a break), and may one day allow two Gen Y’ers to pay each other back for drinks with smart phones. If the bank doesn’t serve them, Twitter might. The consumer is younger and more ready to pay businesses and each other from the small screen. Slightly over 80% of the 18-29 age group use only wireless/mobile communications. Bankers, these are your new consumer and business customers."

Fiserv Unveils ZashPay - P2P Payments via Online Banking
"Fiserv has announced ZashPay, a new person-to-person payments service that 'will allow consumers to tap into a community where they can quickly send or receive money using their existing online banking accounts. With ZashPay, consumers will be able to send money to anyone they know using only an e-mail address or mobile phone number. The payment will be deducted directly from the sender’s banking account and deposited directly into the recipient’s account in as little as one business day, utilizing the same secure processes as a typical online banking transaction.'"

NPD report: Android outselling iPhone; BlackBerry number one
"The iPhone gets the bulk of the mind share, but in actual U.S. smartphone sales, the iPhone trails not only Research In Motion's BlackBerrys but also now handsets built around Google's Android mobile operating system. That's what NPD Group is reporting, based on the market researcher's first quarter 2010 mobile operating system numbers that were released today. NPD says its wireless research reveals that the RIM OS has 36% of the mobile OS market, compared to 28% for Android devices and just 21% for the iPhone. Data is based on unit sales."

Obopay Announces Mobile Money for Banks
"Obopay has announced Mobile Money for Banks - a new service that 'will allow banks to deploy their own branded mobile money service. Designed to make bank accounts the anchor for all current and future mobile money transactions, the service combines complete brand control and a full range of mobile transactions and applications with simple low-cost integration and deployment. Mobile Money for Banks includes the ability to send and transfer money, makes payment card acceptance available to everyone and can be implemented in 30 days or less.'"

EX-Lloyds innovation boss chides HSBC over m-banking
"Mobile banking has long been touted as a delivery channel with huge potential. Last year Berg Insight predicted take up is set to soar, with the number of people using the technology growing from 20 million in 2008 to 913 million in 2014. Only last month research outfit Forrester urged banks to update their strategies in preparation of a surge in popularity as Europe sees increased smartphone adoption. Yet, alone among the UK's major banks, HSBC offers no retail mobile service at all, prompting James Gardner, now CTO at the Department for Work and Pensions, to ask on his blog: 'What is going on HSBC?'"

Mobile, Online Banking Draw Mixed Reactions
"Banking is becoming more handheld and convenient every day, it seems. You can text your bank to check your balance, pay bills via mobile device, or manage all of your finances on your bank’s website. But how do people feel about banking on the go? It turns out that some people don’t need it, while others can’t do without it. Check out this video and learn some of the advantages and disadvantages of mobile banking from every day people with a variety of opinions on Online banking.