International Mobile Banking Updates - Aug 15

Mobile payment platform tPago expands across Latin America to cater for the unbanked
"Mobile transaction platform tPago is expanding across Latin America to cater for the unbanked, its parent company GCS International has announced. As you may know, it has been operating in the Dominican Republic since 2010, and will now be available to users in Colombia, Guatemala, El Salvador and Puerto Rico. Mobile payments are an attractive and fast-growing segment; according to Pyramid Research, the number of users of mobile transaction platforms in the region will reach 140 million in 2015, a huge jump from 18 million today."

Mobile-banking: A win-win combo
"It was August 2002. The Indian mobile market was yet to show its true potential despite the early promise. We were miles away from the revolution we are experiencing today. Though everyone was more or less convinced about the impending communications revolution, the debate over the relative growth potential of ‘fixed line’ and ‘mobile’ still raged."

National Bank to Hire Mobile Banking Consultant
"The National bank of Ethiopia is to hire a consultant to support its plans to prepare a regulatory framework for the launch of mobile and agent banking services in the country. The technology is expected to be helpful but it prudent to be careful in regards to security issues before implementing a new system said an official with the Banking Supervision Directorate of the NBE."

Westpac launches Android NFC payments app
"Westpac Banking Corporation has joined the throng of Australian financial services giants attempting to stay ahead of the growing trend towards payments from mobile phones, launching an app yesterday that will allow those with Android smartphones to make mobile payments through their embedded NFC chip."

APAC Banks Fighting To Gain Mindshare In Mobile Banking
"Banks in Asia/Pacific are ramping up their mobile banking propositions as they race for mindshare among the region's increasingly technologically savvy customers. The mobile channel is the top priority channel for most banks in 2012, and leading banks in Asia/Pacific have deployed their best resources to this "channel of the future", launching standout features and functionalities, ensuring growth in activity rates among customers, and better managing the technology requirements of this channel."

Tanzania: Mobile Phones Help Spread Financial Services
"THE rapid use of mobile phones in Tanzania is seen as an opportunity to expand formal financial services to the market. That is why the Tanzania Postal Bank (TPB) seeks to embrace the technology of mobile phone banking, to serve the remote rural areas. Mr Alphonce Kihwele, the previous TPB'S Chief Executive Officer, says that nearly 25 per cent of Tanzanians have access to a mobile phone. TPB sees that as an opportunity and appropriate technology to include the rural savings into the mainstream of the economy, to enable customers access financial services for improvement of their well being and poverty reduction."