International Mobile Banking Updates - Sept 13

FNB launches new mobile payment method
"Pay2Cell is FNB’s latest mobile banking offering, which take a lot of admin out of making deposits and transfers into FNB accountholder’s accounts.

Pay2Cell allows FNB accountholders to make payments to other FNB clients using only the recipient’s cellphone number- no branch code or account number required, allowing customers to keep their banking details private. This could be yet another innovative idea that will see the migration of banking clients moving towards more technological means of making payments."

TD Canada Trust poll says only 8% of Canadians use mobile banking
"A recent survey from comScore suggested that 12.3% of Canadian mobile subscribers (24.5 million) have accessed banking, credit card, insurance or brokerage account information from their device. They didn’t give a breakdown of how many were for each category but TD Canada Trust stepped up today with their own poll. The 'Everyday Banking Poll' reached out to 1,000 Canadians between August 3rd – 9th and found that only 8% actually use mobile banking."

UPDATE: Rogers Communications Files Application To Start Bank >RCI
"Rogers Communications Inc. (RCI), Canada's biggest wireless phone company, plans to start a bank, primarily focused on credit, ...
--Rogers intends to start a bank
--Move into nascent, fast-growing mobile-banking market
--To be called Rogers Bank"

Banking on m-banking
"Like in many other countries, people in Bangladesh started believing in mobile banking, which was introduced on May 15 by Dutch Bangla Bank Ltd (DBBL). BRAC Bank introduced the service on July 21. Mercantile Bank and Trust Bank are also going to introduce m-banking throughout the country with the help of the government union information centres.

A total of 12 banks are in the race to introduce the service, while two are in the final lap of implementation. It was possible for approval from Bangladesh Bank and the telecom operators have also come forward to help the banks."

Mobile banking fast replacing cash and cheque transactions
"Financial transactions involving cash and cheque are gradually diminishing with currently only 49 per cent of all deals being carried through this medium. This is happening due to the increasing adoption of alternative channels like credit and debit card, ATM, online transactions and now the mobile. According to a report by Boston Consultancy Group, the share of traditional cash and cheque-based transactions is to fall to a low 15 per cent by 2020."