mPayy Launches Free Android Mobile Payment Application
"mPayy has announced the availability of its mobile payments application in the Android marketplace for all phones that run the Android operating system. mPayy says it "enables free person-to-person payments between members, and low cost merchant processing through its new Android application." There are no costs for opening an mPayy account or making payments. Personal account-holders can receive free mobile payments while small business account-holders pay merchant processing fees."
Mobile payments and NFC: Who will get paid, and how?
"A host of players are gearing up to try and turn what has for years been a concept--mobile payments enabled by Near Field Communications technology--into a business reality. Carriers, platform providers and financial services companies have indicated their interest in commercializing mobile payments, yet challenges remain to getting systems off the ground. Furthermore, the complex and interlocking set of relationships among the parties involved mean business models are still being tested, and it is far from certain that any such effort will find mass-market acceptance."
Thursday, December 23, 2010
Wednesday, December 22, 2010
Mobile Banking International Updates - Dec 22
The Race (For Marketshare) Is On: Commercial Launch of Mobile Banking in Haiti
"And they’re off! Amid endless turmoil – earthquakes, cholera, and political unrest – Haitians finally have some good news. Two mobile banking platforms: TchoTcho by Digicel and T-Cash by Voilà have just launched for commercial use. Relief organizations, NGOs, and government agencies throughout the country have already begun to put the new technology to use. For an economy that has always been cash based, this is a huge leap forward. The public, most of which was previously excluded from banking, has responded enthusiastically."
Fraud and security concerns fail to slow the growth of mobile banking in Africa
"Developing Telecoms recently examined some of the factors that have led to mobile banking’s success across many African markets. Mobile money transfers in particular represent a far more secure alternative to handling devalued currency in a cash economy, and for this reason adoption has been widespread. However, the informality of mobile banking infrastructure in Africa can appear challenging to the developed world, and raises serious questions about the potential impact of fraud in the mobile finance sector."
"And they’re off! Amid endless turmoil – earthquakes, cholera, and political unrest – Haitians finally have some good news. Two mobile banking platforms: TchoTcho by Digicel and T-Cash by Voilà have just launched for commercial use. Relief organizations, NGOs, and government agencies throughout the country have already begun to put the new technology to use. For an economy that has always been cash based, this is a huge leap forward. The public, most of which was previously excluded from banking, has responded enthusiastically."
Fraud and security concerns fail to slow the growth of mobile banking in Africa
"Developing Telecoms recently examined some of the factors that have led to mobile banking’s success across many African markets. Mobile money transfers in particular represent a far more secure alternative to handling devalued currency in a cash economy, and for this reason adoption has been widespread. However, the informality of mobile banking infrastructure in Africa can appear challenging to the developed world, and raises serious questions about the potential impact of fraud in the mobile finance sector."
Monday, December 20, 2010
Mobile Banking Updates - Dec 20
Google Acquires Mobile Payments Company Zetawire
"It was revealed Monday that Google has acquired Zetawire, a small stealth startup focusing on mobile payments. Zetawire was in an extremely early stage when snapped up by the tech giant; we know little about what it was working on. However, an analyst with 451 Group revealed the startup had been granted a patent for “mobile banking, advertising, identity management, credit card and mobile coupon transaction processing” — in other words, all the puzzle pieces needed to let users treat their smartphones like a credit card."
Mobile Web Will Change Mobile Banking
"In a press release, Steve Eliis, Change Sciences partner, said, 'The mobile web will to be a robust mobile platform for the consumers. There will be no hassle in downloading the applications to any mobile devices. If the banks run on one platform then the costs can be significantly reduced.'”
Charles Schwab Releases iPhone & iPad App
Charles Schwab — in an effort to keep up with technological trends — has announced the addition of their Charles Schwab iPhone App. Charles Schwab has now joined the handful of other banks now offering mobile banking services.
Accessibility has come just in time for the holiday season with Charles Schwab’s mobile app for the iPhone. Holidays mean something different for everyone, but for a lot of people the holidays mean travel. Whether that traveling is for business or pleasure, having the capability of accessing all of your financial accounts brings a calm sense of convenience to the current hectic of the environment.
4 Key Regulatory Issues of 2011
"Authentication, mobile banking and consumer protection. These are among the key areas that may see new regulatory guidance in 2011. In an annual preview of things to come, a panel of federal regulators and industry experts weighs in on what are likely to be the top 4 regulatory issues of the new year."
The three pillars of banking apps
"Recently, we carried out YouGov research that revealed that one in four of generation Y (aged between 18 and 34) would hold their bank in higher regard if it offered mobile phone banking services. Additionally, we polled the attendees at a recent breakfast briefing where a majority of the UK banks were represented – 36 per cent of respondents cited increasing customer satisfaction as their primary driver for providing mobile banking services. Thus, evidence suggests that banking apps have a key role to play for banks focused on their customers and their experience."
Capital One Launches iPhone App
"Timely for all of Capital One’s card holders planning their holiday shopping extravaganzas, Capital One Bank has announced the release of a new iPhone application. Capital One’s decision to release the app is part of the growing trend of bringing convenience through mobile banking."
Emerging Payments Options Open Doors for Mobile
"Facebook, PayPal and companies like Bling Nation, an innovator in near-field-communications mobile payments, are expected to revolutionize payments over the next six to 12 months. But security and fraud will be a big concern. How will innovators in payments, as well as financial institutions, balance convenience and innovation with security?"
"It was revealed Monday that Google has acquired Zetawire, a small stealth startup focusing on mobile payments. Zetawire was in an extremely early stage when snapped up by the tech giant; we know little about what it was working on. However, an analyst with 451 Group revealed the startup had been granted a patent for “mobile banking, advertising, identity management, credit card and mobile coupon transaction processing” — in other words, all the puzzle pieces needed to let users treat their smartphones like a credit card."
Mobile Web Will Change Mobile Banking
"In a press release, Steve Eliis, Change Sciences partner, said, 'The mobile web will to be a robust mobile platform for the consumers. There will be no hassle in downloading the applications to any mobile devices. If the banks run on one platform then the costs can be significantly reduced.'”
Charles Schwab Releases iPhone & iPad App
Charles Schwab — in an effort to keep up with technological trends — has announced the addition of their Charles Schwab iPhone App. Charles Schwab has now joined the handful of other banks now offering mobile banking services.
Accessibility has come just in time for the holiday season with Charles Schwab’s mobile app for the iPhone. Holidays mean something different for everyone, but for a lot of people the holidays mean travel. Whether that traveling is for business or pleasure, having the capability of accessing all of your financial accounts brings a calm sense of convenience to the current hectic of the environment.
4 Key Regulatory Issues of 2011
"Authentication, mobile banking and consumer protection. These are among the key areas that may see new regulatory guidance in 2011. In an annual preview of things to come, a panel of federal regulators and industry experts weighs in on what are likely to be the top 4 regulatory issues of the new year."
The three pillars of banking apps
"Recently, we carried out YouGov research that revealed that one in four of generation Y (aged between 18 and 34) would hold their bank in higher regard if it offered mobile phone banking services. Additionally, we polled the attendees at a recent breakfast briefing where a majority of the UK banks were represented – 36 per cent of respondents cited increasing customer satisfaction as their primary driver for providing mobile banking services. Thus, evidence suggests that banking apps have a key role to play for banks focused on their customers and their experience."
Capital One Launches iPhone App
"Timely for all of Capital One’s card holders planning their holiday shopping extravaganzas, Capital One Bank has announced the release of a new iPhone application. Capital One’s decision to release the app is part of the growing trend of bringing convenience through mobile banking."
Emerging Payments Options Open Doors for Mobile
"Facebook, PayPal and companies like Bling Nation, an innovator in near-field-communications mobile payments, are expected to revolutionize payments over the next six to 12 months. But security and fraud will be a big concern. How will innovators in payments, as well as financial institutions, balance convenience and innovation with security?"
Wednesday, December 15, 2010
Mobile Banking Updates - Dec 15
Nexus S and Gingerbread Phones to Get Full NFC Support Soon
"When Google revealed its newest version of the Android operating system this week, Android 2.3, code-named "Gingerbread," there was one slight disappointment: the highly anticipated NFC (near field communications) support was somewhat crippled. According to Google's own Android 2.3 User's Guide (PDF link), Gingerbread allows mobile phones with NFC chips to work as readers, but not as transmitters, the latter which would be a necessary component to any NFC-enabled mobile payments system."
Smart Phones Help Fight Bank Fraud
"A simple phone call or text message could have saved Mark Patterson nearly $350,000. The money was stolen from his company's bank account last year by cybercriminals based in Eastern Europe. Patterson discovered the fraud six days after it had begun, when the bank sent notice that a fraudulent $9,000 transfer to an account in California had failed to complete."
Charities Outraged Over iPhone App Donations Ban
"The New York Times has published an article about how several charities are outraged at the decision by Apple Inc. (NASDAQ:AAPL) to ban donations from within applications. Beth Kanter, the co-author of The Networked Nonprofit said that she is replacing her iPhone with an Android phone."
Samsung Unveils New NFC Chip
"It looks like Samsung Electronics is getting in on the NFC action recently stirred by the Isis joint venture between Verizon Wireless, T-Mobile and AT&T. Samsung yesterday announced a new Near Field Communications (NFC) chip with embedded flash memory."
"When Google revealed its newest version of the Android operating system this week, Android 2.3, code-named "Gingerbread," there was one slight disappointment: the highly anticipated NFC (near field communications) support was somewhat crippled. According to Google's own Android 2.3 User's Guide (PDF link), Gingerbread allows mobile phones with NFC chips to work as readers, but not as transmitters, the latter which would be a necessary component to any NFC-enabled mobile payments system."
Smart Phones Help Fight Bank Fraud
"A simple phone call or text message could have saved Mark Patterson nearly $350,000. The money was stolen from his company's bank account last year by cybercriminals based in Eastern Europe. Patterson discovered the fraud six days after it had begun, when the bank sent notice that a fraudulent $9,000 transfer to an account in California had failed to complete."
Charities Outraged Over iPhone App Donations Ban
"The New York Times has published an article about how several charities are outraged at the decision by Apple Inc. (NASDAQ:AAPL) to ban donations from within applications. Beth Kanter, the co-author of The Networked Nonprofit said that she is replacing her iPhone with an Android phone."
Samsung Unveils New NFC Chip
"It looks like Samsung Electronics is getting in on the NFC action recently stirred by the Isis joint venture between Verizon Wireless, T-Mobile and AT&T. Samsung yesterday announced a new Near Field Communications (NFC) chip with embedded flash memory."
Tuesday, December 14, 2010
Mobile Banking Updates - Dec 14
Monitise and ViVOtech Partner to Deliver NFC Mobile Payments
"Monitise (LSE: MONI.L), a global leader in mobile money solutions, has joined forces with leading near field communication (NFC) software developer ViVOtech, to deliver mobile phone payments services to banks across the United States.
The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities."
Harland Financial acquires uMonitor
"Harland Financial Solutions, a provider of software and services to financial institutions, has acquired Tennessee-based uMonitor, a provider of online solutions specifically designed for financial institutions. Harland Financial said it will immediately begin integrating uMonitor's solutions into its existing core, lending, mortgage, branch automation, Internet and mobile banking offerings."
FIS Announces Innovative Mobile Financial Services iPhone App
"FIS, one of the world’s largest providers of banking and payments technology, today announced its newest mobile banking app, which allows consumers to set up mobile account management through an iPhone® using their debit card. Unlike most mobile financial apps, the entire enrollment process can be completed from start to finish through the customer’s iPhone."
Cardlytics Looks to Mobile to Expand Reach of Card-Linked Rewards
"Companies are starting to bet that consumer interest in electronically delivered offers and rewards is spilling into the mobile channel. In the most recent example of this trend, Cardlytics, an Atlanta-based firm whose technology lets consumers redeem rewards by using a bank-issued payment card, this week announced a tie-in with ClairMail Inc., a mobile-banking provider. ClairMail is “in the early stages” of working with two client banks on deploying the Cardlytics solution, says Reetika Grewal, director of partners and solutions at ClairMail."
"Monitise (LSE: MONI.L), a global leader in mobile money solutions, has joined forces with leading near field communication (NFC) software developer ViVOtech, to deliver mobile phone payments services to banks across the United States.
The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities."
Harland Financial acquires uMonitor
"Harland Financial Solutions, a provider of software and services to financial institutions, has acquired Tennessee-based uMonitor, a provider of online solutions specifically designed for financial institutions. Harland Financial said it will immediately begin integrating uMonitor's solutions into its existing core, lending, mortgage, branch automation, Internet and mobile banking offerings."
FIS Announces Innovative Mobile Financial Services iPhone App
"FIS, one of the world’s largest providers of banking and payments technology, today announced its newest mobile banking app, which allows consumers to set up mobile account management through an iPhone® using their debit card. Unlike most mobile financial apps, the entire enrollment process can be completed from start to finish through the customer’s iPhone."
Cardlytics Looks to Mobile to Expand Reach of Card-Linked Rewards
"Companies are starting to bet that consumer interest in electronically delivered offers and rewards is spilling into the mobile channel. In the most recent example of this trend, Cardlytics, an Atlanta-based firm whose technology lets consumers redeem rewards by using a bank-issued payment card, this week announced a tie-in with ClairMail Inc., a mobile-banking provider. ClairMail is “in the early stages” of working with two client banks on deploying the Cardlytics solution, says Reetika Grewal, director of partners and solutions at ClairMail."
Sunday, December 12, 2010
Mobile Banking Updates - Dec 12
Smartphone Mobile Banking Use Approaches 50%
"ABI research has announced that about 50% of smartphone users are planning to use their devices for mobile banking, including mobile shopping. A parallel announcement this week highlighted the ABI survey findings when Wells Fargo began rolling out its mobile banking pilot. In its survey of 2,000 consumer technology users, ABI said nearly half of the responding smartphone users said they already or will soon use their phones for mobile shopping. A slightly higher percentage -- 53% -- use or intend to use their smartphones for mobile banking."
Accumulate unveils m-banking application security tech
"Accumulate launch the Safe Frame Library making today's mobile banking reaching the security level needed to enable mobile services, like monetary transfers and agreement signing."
Chase Introduces Mobile Banking App For Android
"Chase announced today that its new Chase Mobile Android Application with Chase QuickDeposit SM allows Android smartphone users to track their Chase account activity, deposit checks, and pay bills and credit cards whenever and wherever they want."
Wells Fargo to Roll Out Mobile Payments Pilot; Visa Demonstrating Capability at CARTES 2010
"Continuing its leadership in the mobile banking space, Wells Fargo & Company (NYSE:WFC) is rolling out its Visa® (NYSE:V) microSD mobile payment pilot. This San Francisco based pilot will include 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models."
Study: Bank Of America Is Tops In Mobile
"Bank of America may still be in the public doghouse for the federal bailout money it received, but one thing the financial services provider is doing right is its mobile Web site, according to a study.
Mobile Web banking is no longer the poor sibling of downloadable mobile apps, according to Change Sciences Group, which also evaluated the sites of BB&T, Chase, ING Direct and PNC. The 70-page report looks at the current state of the art of mobile Web banking and placed Bank of America at the top of those evaluated."
Kenyan bank unveils mobile banking
"Faulu Kenya has introduced mobile banking where customers can open and operate their bank accounts, reports Daily Nation. Customers can transfer money within accounts and across mobile networks and do automatic and instant loan applications among others."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Salin Bank Announces Availability of E-Statements, Mobile Banking
"Family owned and Indiana-based Salin Bank is pleased to announce the launch of two new banking applications and tools for its clients. The first application is the addition of e-statements. Designed as part of Salin Bank’s “green” initiative, e-statements will significantly reduce paper waste, as well as offer added convenience for clients. To sign up for e-statements, clients may go to Salin Bank’s Web site www.salin.com."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
"ABI research has announced that about 50% of smartphone users are planning to use their devices for mobile banking, including mobile shopping. A parallel announcement this week highlighted the ABI survey findings when Wells Fargo began rolling out its mobile banking pilot. In its survey of 2,000 consumer technology users, ABI said nearly half of the responding smartphone users said they already or will soon use their phones for mobile shopping. A slightly higher percentage -- 53% -- use or intend to use their smartphones for mobile banking."
Accumulate unveils m-banking application security tech
"Accumulate launch the Safe Frame Library making today's mobile banking reaching the security level needed to enable mobile services, like monetary transfers and agreement signing."
Chase Introduces Mobile Banking App For Android
"Chase announced today that its new Chase Mobile Android Application with Chase QuickDeposit SM allows Android smartphone users to track their Chase account activity, deposit checks, and pay bills and credit cards whenever and wherever they want."
Wells Fargo to Roll Out Mobile Payments Pilot; Visa Demonstrating Capability at CARTES 2010
"Continuing its leadership in the mobile banking space, Wells Fargo & Company (NYSE:WFC) is rolling out its Visa® (NYSE:V) microSD mobile payment pilot. This San Francisco based pilot will include 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models."
Study: Bank Of America Is Tops In Mobile
"Bank of America may still be in the public doghouse for the federal bailout money it received, but one thing the financial services provider is doing right is its mobile Web site, according to a study.
Mobile Web banking is no longer the poor sibling of downloadable mobile apps, according to Change Sciences Group, which also evaluated the sites of BB&T, Chase, ING Direct and PNC. The 70-page report looks at the current state of the art of mobile Web banking and placed Bank of America at the top of those evaluated."
Kenyan bank unveils mobile banking
"Faulu Kenya has introduced mobile banking where customers can open and operate their bank accounts, reports Daily Nation. Customers can transfer money within accounts and across mobile networks and do automatic and instant loan applications among others."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Salin Bank Announces Availability of E-Statements, Mobile Banking
"Family owned and Indiana-based Salin Bank is pleased to announce the launch of two new banking applications and tools for its clients. The first application is the addition of e-statements. Designed as part of Salin Bank’s “green” initiative, e-statements will significantly reduce paper waste, as well as offer added convenience for clients. To sign up for e-statements, clients may go to Salin Bank’s Web site www.salin.com."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Tuesday, December 7, 2010
International Mobile Banking Updates - Dec 7
I’ve Seen the Future (in Haiti)
"Cash is so 20th century. I’ve been experimenting with a 21st-century alternative, using money on a cellphone account to buy goods in shops. It’s a bit like using a credit card, but the system can also enable you to use your cellphone account to transfer money to individuals or companies domestically or internationally. And it’s more secure because a thief would have to steal not only your phone but also your PIN to get access to your money."
Mobile Banking in the Emerging World
"In Tanzania, a hospital sends money by text message to women in remote areas so they can pay for bus fare to travel for critically needed surgery. In Afghanistan, the government pays its police officers by text message to skirt corrupt middlemen. In Pakistan, the biggest financial network is not a bank, but a unit of Telenor, the Norwegian mobile phone operator."
Seven Indian Banks Launch P2P Interbank Mobile Payments; How It Works
"ional Payment Corporation of India, on November 22nd 2010, launched Interbank Mobile Payment Service (IMPS) in India, with seven Banks enabling transfer of funds using mobile phones. The participating banks include some of the largest banks in India: State Bank of India, ICICI Bank, Union Bank of India, Bank of India, Yes Bank, Axis Bank and HDFC Bank. The IMPS service will operate as back-end for the banks allowing them to offer a real-time money transfer facility to customers."
Hong Kong slow in adopting mobile banking
"Mobile banking impacts consumers' bank selection, according to the Mobile Banking Perception Study by global market research company Synovate. People's perceptions change about a bank if it does not offer mobile banking services and the study shows that about 50 per cent of consumers of this service use it for stock trading. However, only four per cent of Hong Kong respondents are currently using mobile banking."
Mobile banking: China Mobile may face opposition to pet bank plans
"Despite regulator concerns along the way, China Mobile seems determined to roll out comprehensive mobile banking services to it’s subscribers. With Shanghai Pudong Development (SPD) Bank, which China Mobile owns 20% of, it is planning to launch a wide range of financial products. But it would seem that regulatory issues are raising their heads once again."
RBC iPhone and BlackBerry app “coming soon”
"ING, CIBC, TD Bank, Desjardins, Scotiabank all have some sort of mobile banking app (iPhone, BlackBerry, Android) and for some reason RBC (the largest financial institution in Canada) to date doesn’t… but good news for customers as it’s “coming soon”.
RBC has posted a splash page with really old images on their site stating an iPhone and BlackBerry app will be released shortly. There is the standard features that include the ability to pay bills, transfer funds, check account balances, Use Interac Email Money Transfers and locate branches and ATMs."
Taiwanese mobile banking users to nearly triple: survey
"Over 30 percent of the public is expected to use mobile banking services within one year, to almost triple from the current 11 percent, according to the nation's first mobile banking online survey conducted by Citibank Taiwan Ltd., yesterday."
BOK launches mobile banking service
"Bank of Kathmandu (BOK) has on Wednesday launched a unique Mobile Banking service called "M-PAISA". According to the bank, it has introduced the service with the aim to provide an attractive and beneficiary service to all the mobile users. The bank also said that at present the service can be availed by the customers of Nepal Telecom only, by free registration from all BOK branches."
NuMobile Acquires Kenyan Startup To Enter Africa’s Mobile Banking Market
"NuMobile, Inc. today announced the acquisition of Kruze Technologies Ltd, a mobile wallet operation headquartered in Nairobi, Kenya. NuMobile has scheduled an on-demand Webcast to be released next Tuesday, December 7th to present the Company’s African mobile banking strategy and to provide an overview of the acquisition announced today and of the pending acquisition expected to close imminently."
The push and pull of mobile banking
"Preventing money laundering, eliminating informal foreign remittance inflows and promoting savings among rural people have driven the theme of “financial inclusion” worldwide. Financial inclusion aims to include more people in the banking process. In Bangladesh, where only 13 percent of the population has a bank account and 33 percent a mobile phone, relevant parties are considering using mobile phones to deliver banking to the unbanked. In such initiatives, bank-nominated agents perform banking activities, including opening a mobile bank account and providing cash."
"Cash is so 20th century. I’ve been experimenting with a 21st-century alternative, using money on a cellphone account to buy goods in shops. It’s a bit like using a credit card, but the system can also enable you to use your cellphone account to transfer money to individuals or companies domestically or internationally. And it’s more secure because a thief would have to steal not only your phone but also your PIN to get access to your money."
Mobile Banking in the Emerging World
"In Tanzania, a hospital sends money by text message to women in remote areas so they can pay for bus fare to travel for critically needed surgery. In Afghanistan, the government pays its police officers by text message to skirt corrupt middlemen. In Pakistan, the biggest financial network is not a bank, but a unit of Telenor, the Norwegian mobile phone operator."
Seven Indian Banks Launch P2P Interbank Mobile Payments; How It Works
"ional Payment Corporation of India, on November 22nd 2010, launched Interbank Mobile Payment Service (IMPS) in India, with seven Banks enabling transfer of funds using mobile phones. The participating banks include some of the largest banks in India: State Bank of India, ICICI Bank, Union Bank of India, Bank of India, Yes Bank, Axis Bank and HDFC Bank. The IMPS service will operate as back-end for the banks allowing them to offer a real-time money transfer facility to customers."
Hong Kong slow in adopting mobile banking
"Mobile banking impacts consumers' bank selection, according to the Mobile Banking Perception Study by global market research company Synovate. People's perceptions change about a bank if it does not offer mobile banking services and the study shows that about 50 per cent of consumers of this service use it for stock trading. However, only four per cent of Hong Kong respondents are currently using mobile banking."
Mobile banking: China Mobile may face opposition to pet bank plans
"Despite regulator concerns along the way, China Mobile seems determined to roll out comprehensive mobile banking services to it’s subscribers. With Shanghai Pudong Development (SPD) Bank, which China Mobile owns 20% of, it is planning to launch a wide range of financial products. But it would seem that regulatory issues are raising their heads once again."
RBC iPhone and BlackBerry app “coming soon”
"ING, CIBC, TD Bank, Desjardins, Scotiabank all have some sort of mobile banking app (iPhone, BlackBerry, Android) and for some reason RBC (the largest financial institution in Canada) to date doesn’t… but good news for customers as it’s “coming soon”.
RBC has posted a splash page with really old images on their site stating an iPhone and BlackBerry app will be released shortly. There is the standard features that include the ability to pay bills, transfer funds, check account balances, Use Interac Email Money Transfers and locate branches and ATMs."
Taiwanese mobile banking users to nearly triple: survey
"Over 30 percent of the public is expected to use mobile banking services within one year, to almost triple from the current 11 percent, according to the nation's first mobile banking online survey conducted by Citibank Taiwan Ltd., yesterday."
BOK launches mobile banking service
"Bank of Kathmandu (BOK) has on Wednesday launched a unique Mobile Banking service called "M-PAISA". According to the bank, it has introduced the service with the aim to provide an attractive and beneficiary service to all the mobile users. The bank also said that at present the service can be availed by the customers of Nepal Telecom only, by free registration from all BOK branches."
NuMobile Acquires Kenyan Startup To Enter Africa’s Mobile Banking Market
"NuMobile, Inc. today announced the acquisition of Kruze Technologies Ltd, a mobile wallet operation headquartered in Nairobi, Kenya. NuMobile has scheduled an on-demand Webcast to be released next Tuesday, December 7th to present the Company’s African mobile banking strategy and to provide an overview of the acquisition announced today and of the pending acquisition expected to close imminently."
The push and pull of mobile banking
"Preventing money laundering, eliminating informal foreign remittance inflows and promoting savings among rural people have driven the theme of “financial inclusion” worldwide. Financial inclusion aims to include more people in the banking process. In Bangladesh, where only 13 percent of the population has a bank account and 33 percent a mobile phone, relevant parties are considering using mobile phones to deliver banking to the unbanked. In such initiatives, bank-nominated agents perform banking activities, including opening a mobile bank account and providing cash."
Sunday, December 5, 2010
Mobile Banking Updates - Dec 5
Top Ten Wireless Predictions for 2011
"As 2010 draws to a close Juniper Research has drawn up a list of predictions for the coming year, all neatly wrapped up as the top trends for the mobile and wireless industry for 2011. A free report detailing the findings is available to download from the Juniper website today."
PSCU Offers Write-ups on Mobile, Online, Call Centers
"PSCU Financial Services is offering two new white papers on call centers and online and mobile banking services for credit unions."
Click here - The Rise of Mobile Banking
Majority of top banks offering mobile banking
"Good news for tech-savvy checking account holders on the go: More banks are offering mobile banking services than ever before. A recent report by market research firm First Annapolis found that 54 percent of the top 100 financial institutions in the country surveyed offered some form of mobile banking.
Nearly 40 percent now offer banking services over the mobile Web, accessible to smart phones such as Apple's iPhone. Banking by text message is also a popular option among banks; 32 percent offer banking services and/or alerts by text messages. Another 32 percent offer apps for smart phones, with the iPhone App Store getting apps from 28 percent of financial institutions. Other smart phone platforms such as Blackberry and Android were less likely to get banking apps."
Are Mobile Payments Primed for Exponential Growth?
"In the developing world, those with cell phones outnumber those with bank accounts. And, as The New York Times reports, global usage of mobile-based banking is on the rise domestically, as well."
Noted & Noteworthy
"SunTrust Bank in Atlanta has a prominent mobile banking application. It works on hundreds of handsets-including the Apple iPhone-and is accessible to SunTrust customers on five wireless carriers.
But on SunTrust's Web site, you'd be hard pressed to find any clue such a mobile option exists. No mention of mobile banking exists on SunTrust's home page or a main portal for personal banking. It's only after clicking through to a page touting online banking will a SunTrust user find a link explaining how to sign up for mobile services."
FIS Enables Mobile Financial Services for U.S. Bank Prepaid Cardholders
"FIS, one of the world's largest providers of banking and payments technology, today announced that U.S. Bank is using FIS' mobile platform to launch mobile financial services for the U.S. Bank AccelaPay(R) Visa prepaid card program. Through this innovative combination, AccelaPay cardholders can use their mobile phones, including BlackBerrys and iPhones, to check their account balance, pay bills, receive account alerts and view mini-statements."
"As 2010 draws to a close Juniper Research has drawn up a list of predictions for the coming year, all neatly wrapped up as the top trends for the mobile and wireless industry for 2011. A free report detailing the findings is available to download from the Juniper website today."
PSCU Offers Write-ups on Mobile, Online, Call Centers
"PSCU Financial Services is offering two new white papers on call centers and online and mobile banking services for credit unions."
Click here - The Rise of Mobile Banking
Majority of top banks offering mobile banking
"Good news for tech-savvy checking account holders on the go: More banks are offering mobile banking services than ever before. A recent report by market research firm First Annapolis found that 54 percent of the top 100 financial institutions in the country surveyed offered some form of mobile banking.
Nearly 40 percent now offer banking services over the mobile Web, accessible to smart phones such as Apple's iPhone. Banking by text message is also a popular option among banks; 32 percent offer banking services and/or alerts by text messages. Another 32 percent offer apps for smart phones, with the iPhone App Store getting apps from 28 percent of financial institutions. Other smart phone platforms such as Blackberry and Android were less likely to get banking apps."
Are Mobile Payments Primed for Exponential Growth?
"In the developing world, those with cell phones outnumber those with bank accounts. And, as The New York Times reports, global usage of mobile-based banking is on the rise domestically, as well."
Noted & Noteworthy
"SunTrust Bank in Atlanta has a prominent mobile banking application. It works on hundreds of handsets-including the Apple iPhone-and is accessible to SunTrust customers on five wireless carriers.
But on SunTrust's Web site, you'd be hard pressed to find any clue such a mobile option exists. No mention of mobile banking exists on SunTrust's home page or a main portal for personal banking. It's only after clicking through to a page touting online banking will a SunTrust user find a link explaining how to sign up for mobile services."
FIS Enables Mobile Financial Services for U.S. Bank Prepaid Cardholders
"FIS, one of the world's largest providers of banking and payments technology, today announced that U.S. Bank is using FIS' mobile platform to launch mobile financial services for the U.S. Bank AccelaPay(R) Visa prepaid card program. Through this innovative combination, AccelaPay cardholders can use their mobile phones, including BlackBerrys and iPhones, to check their account balance, pay bills, receive account alerts and view mini-statements."
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