"MasterCard ranked Canada the second most well prepared market in the world for mobile payments adoption last year (Singapore was no. 1). A big reason for that is the density of mobile payments players located here in the Greater Toronto Area in Ontario, where I am touring the ongoing development of the mobile payments ecosystem.
Simply put all the companies in the mobile payments industry here are neighbors, and seemingly friends. Toronto is the headquarters of all five of Canada’s big banks, as well as its three major telcos, Rogers, Bell and Telus. It is also the epicenter of Canada’s IT industry; Ontario is home to 50% of the industry’s GDP." Continue Reading
Showing posts with label Mastercard. Show all posts
Showing posts with label Mastercard. Show all posts
Monday, September 30, 2013
Tuesday, October 2, 2012
International Mobile Banking Updates - Oct 2
MOBILE BANKING (First of two parts)
"THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes. Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth. If only banks here were as easily accessible as cell phones, particularly in the rural areas!"
Anytime-anywhere banking, courtesy RBI
"Customers can now pay for their taxi rides, pizzas, kirana store purchases anytime, anywhere with their mobile phones, reports CNBC-TV18's Gopika Gopakumar. Have you run out of cash while shopping? Don't worry! You can pay anyone including your neighbourhood kirana store with your mobile phone. The National Payments Corporation of India (NPCI), the organisation set up by the RBI for all retail payments, has now launched the inter-bank mobile payment service for all merchants. This will allow customers to pay their bills for as little as 25 paise for each transaction."
Mobile banking expands in rural areas
"In 2011, Philippine rural banks processed over P4.9 billion (roughly $116 million) worth of banking transactions which were enabled by mobile banking. In fact, the former head of the Microentrepreneurs Access to Banking Services (MABS) program John V. Owens said a 58-percent increase in the volume of transactions through mobile banking has been noted in the first four months of 2012. Since mobile banking or access to banking services through the mobile phone technology was introduced in 2006, a total of P16 billion (approximately $363 million) had been processed."
KBank boosts mobile and cyber-banking services
"Art Wichiencharoen, first senior vice president of Kasikornbank, said that the company usually invests about Bt100 million to keep the bank's technologies up to date in order to provide a wide new range of secure cyber-banking and mobile-banking services. Currently, the bank has more than 1.4 million users of its cyber-banking services, with 400,000 active users per month. Meanwhile, it has more than 1.2 million registered users of its mobile-banking service, with about 500,000 active users per month."
SBI, ICICI lead the pack as m-banking gains currency
"Mumbai: Anand Chaturvedi, a 27-year-old analyst with a brokerage firm in Mumbai, started using his mobile phone for banking about six months back “because it is easy to use and accessible from anywhere”. When in office, he does Internet banking, but uses the mobile banking (m-banking) services of ICICI Bank Ltd and HDFC Bank Ltd when travelling. Vinaya Venugopalan, a 26-year-old information technology (IT) manager with an Indian bank, started using m-banking in May. He is comfortable with the service, but limits it mostly to checking his bank balance."
Australians slow to embrace mobile banking
"A cashless future where the bulk of consumers rely on mobile phones for their banking needs may be further away than many in the financial services industry claim. That's because consumers in Australia have not shown wide acceptance of mobile banking at a time when technical barriers persist and the challenge of an ageing demographic looms."
Way to beat a cash economy
"In a predominantly cash-run economy, electronic payment methods that provide convenience to users while lowering the transaction cost of banks make immense sense. Mobile banking, or m-banking, that started with small SMS transactions, is one such mechanism. Today, with more than 900 million cellphone subscribers in the country and hundreds of tablet PCs, there should ideally be many takers. According to a August Reserve Bank of India (RBI) report, in fiscal 2012, however, only 13 million people across 49 banks used m-banking services, and made 25.6 million transactions valued at Rs.1,820 crore."
Capitec mobile banking hits 2 million clients
"South African commercial bank Capitec Bank Holdings reported on Wednesday (26 September), that it had signed up more than two million clients to its mobile banking service. 'Capitec promotes the use of mobile banking, and at the end of August 2012, in excess of 2.0 million clients were registered for this service.'"
Mobile tellers take banking by storm
"Since taking the reins as chief information officer for Westpac, Clive Whincup has presided over the launch of the bank’s first iPad application; a trial to turn Android smartphones into contactless payment devices; the introduction of an iPad app to replace printed board papers; a 1000 iPad pilot for bank executives; and a St George innovation that allows payments to be made from a smartphone using only the recipient’s mobile number."
Mobile devices change the face of banking
"How about taking a picture of a cheque with your smartphone to deposit it? What about getting online advice about your investments when you're on your tablet? And then there's paying for small purchases with smartphones. The use of smartphones and tablets in consumers' everyday lives is helping push changes in how they bank, pay for bills and even how they can get investment advice, say experts."
The rise of mobile money is driven by the poor
"As Google, Apple, Paypal, Mastercard and the entire banking community fights over mobile money, we decided to look to the power users to find out what the near future of monetary exchange might look like. The World Bank’s treasure trove of open data on mobile banking is a well stocked pantry for the data hungry. Welcome to our first data snack and enjoy the graph we created below."
"THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes. Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth. If only banks here were as easily accessible as cell phones, particularly in the rural areas!"
Anytime-anywhere banking, courtesy RBI
"Customers can now pay for their taxi rides, pizzas, kirana store purchases anytime, anywhere with their mobile phones, reports CNBC-TV18's Gopika Gopakumar. Have you run out of cash while shopping? Don't worry! You can pay anyone including your neighbourhood kirana store with your mobile phone. The National Payments Corporation of India (NPCI), the organisation set up by the RBI for all retail payments, has now launched the inter-bank mobile payment service for all merchants. This will allow customers to pay their bills for as little as 25 paise for each transaction."
Mobile banking expands in rural areas
"In 2011, Philippine rural banks processed over P4.9 billion (roughly $116 million) worth of banking transactions which were enabled by mobile banking. In fact, the former head of the Microentrepreneurs Access to Banking Services (MABS) program John V. Owens said a 58-percent increase in the volume of transactions through mobile banking has been noted in the first four months of 2012. Since mobile banking or access to banking services through the mobile phone technology was introduced in 2006, a total of P16 billion (approximately $363 million) had been processed."
KBank boosts mobile and cyber-banking services
"Art Wichiencharoen, first senior vice president of Kasikornbank, said that the company usually invests about Bt100 million to keep the bank's technologies up to date in order to provide a wide new range of secure cyber-banking and mobile-banking services. Currently, the bank has more than 1.4 million users of its cyber-banking services, with 400,000 active users per month. Meanwhile, it has more than 1.2 million registered users of its mobile-banking service, with about 500,000 active users per month."
SBI, ICICI lead the pack as m-banking gains currency
"Mumbai: Anand Chaturvedi, a 27-year-old analyst with a brokerage firm in Mumbai, started using his mobile phone for banking about six months back “because it is easy to use and accessible from anywhere”. When in office, he does Internet banking, but uses the mobile banking (m-banking) services of ICICI Bank Ltd and HDFC Bank Ltd when travelling. Vinaya Venugopalan, a 26-year-old information technology (IT) manager with an Indian bank, started using m-banking in May. He is comfortable with the service, but limits it mostly to checking his bank balance."
Australians slow to embrace mobile banking
"A cashless future where the bulk of consumers rely on mobile phones for their banking needs may be further away than many in the financial services industry claim. That's because consumers in Australia have not shown wide acceptance of mobile banking at a time when technical barriers persist and the challenge of an ageing demographic looms."
Way to beat a cash economy
"In a predominantly cash-run economy, electronic payment methods that provide convenience to users while lowering the transaction cost of banks make immense sense. Mobile banking, or m-banking, that started with small SMS transactions, is one such mechanism. Today, with more than 900 million cellphone subscribers in the country and hundreds of tablet PCs, there should ideally be many takers. According to a August Reserve Bank of India (RBI) report, in fiscal 2012, however, only 13 million people across 49 banks used m-banking services, and made 25.6 million transactions valued at Rs.1,820 crore."
Capitec mobile banking hits 2 million clients
"South African commercial bank Capitec Bank Holdings reported on Wednesday (26 September), that it had signed up more than two million clients to its mobile banking service. 'Capitec promotes the use of mobile banking, and at the end of August 2012, in excess of 2.0 million clients were registered for this service.'"
Mobile tellers take banking by storm
"Since taking the reins as chief information officer for Westpac, Clive Whincup has presided over the launch of the bank’s first iPad application; a trial to turn Android smartphones into contactless payment devices; the introduction of an iPad app to replace printed board papers; a 1000 iPad pilot for bank executives; and a St George innovation that allows payments to be made from a smartphone using only the recipient’s mobile number."
Mobile devices change the face of banking
"How about taking a picture of a cheque with your smartphone to deposit it? What about getting online advice about your investments when you're on your tablet? And then there's paying for small purchases with smartphones. The use of smartphones and tablets in consumers' everyday lives is helping push changes in how they bank, pay for bills and even how they can get investment advice, say experts."
The rise of mobile money is driven by the poor
"As Google, Apple, Paypal, Mastercard and the entire banking community fights over mobile money, we decided to look to the power users to find out what the near future of monetary exchange might look like. The World Bank’s treasure trove of open data on mobile banking is a well stocked pantry for the data hungry. Welcome to our first data snack and enjoy the graph we created below."
Tuesday, May 15, 2012
International Mobile Banking Updates - May 15
Mobile money transfers reach 16 percent of sub-Saharan African population
"Money transfer via mobile phones has expanded to 16 percent of the total population in sub-Saharan Africa, according to a new World Bank study that provides a global picture for how people save, borrow, make payments and manage risk. The Global Financial Inclusion Database, or Global Findex, has found only 3 percent of the population in the rest of the world take advantage of money transfers through mobile phones."
A bank that can go anywhere, anytime, and fits in the pocket
"This bank can go anywhere, is open anytime, and fits inside the pocket of your jeans. And this is what Citibank has unveiled – its complete suite of Mobile Banking Applications for today’s widely popular smartphones such as iPhone, Blackberry and Android phones. Aneth Ng-Lim, Citibank Country Corporate Affairs, said in a roundtable discussion with the media that their free mobile app was designed to fit the lifestyle of their clients who are always on the go and have a need to constantly access their accounts."
Uganda: Housing Finance Set to Introduce Mobile Banking
"Housing Finance Bank (HFB) has moved to introduce a virtual Bank account scheme which enables clients to effect payments and money transfers. The all inclusive account which is a partnership with MCash Uganda limited was unveiled last week and allows HFB customers to save and send money within Uganda."
International Finance Corp., MasterCard Foundation working to expand microfinancing in Africa
"The World Bank partner devoted to developing the private sector and The MasterCard Foundation will spend millions of dollars so more impoverished Africans can get loans and other financial services, officials said Monday. At a Johannesburg news conference Monday, officials from the International Finance Corporation, which is part of the World Bank group, and The MasterCard Foundation said they would spend $37.4 million over five years to support banks and other institutions across Africa that provide small loans, a strategy known as microfinancing. People around the world have used such loans to lift themselves out of poverty by starting or expanding small businesses, sending children to school or buying fertilizer for subsistence farms."
Rabobank releases mobile banking app for Windows Phone
"Rabobank, one of the largest banks in the Netherlands, has released a mobile banking app for Windows Phone. Like its counterparts for Android, Blackberry and iOS, the Rabo Banking App lets users take care of their banking needs, be it checking their balance, viewing account history or making transfers, wherever they may be."
Bank of Ireland launches mobile banking app
"From midnight tonight, those who bank with Bank of Ireland will be able to download a new mobile banking app for the iPhone from the Apple App Store. According to Bank of Ireland, the new app will deliver high-speed, secure bank account access to the 500,000 personal customers who have signed up for its online banking service."
Commonwealth Bank tapping into growing mobile banking market
"Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia, is tapping into growing mobile banking market in the country, benefiting the increasing number of middle-class people in the largest economy in Southeast Asia. 'Up to 80 percent of [the Indonesian] population is less than 40 years old, 35 percent of whom use social media. If you look at the way people interact and travel in Indonesia, mobile is the key part of that,' Commonwealth Bank director of retail and business banking, Ian Phillip Whitehead, said in Singapore on Friday."
Kiwibank app fights 'soulless' banking
"All banks want their customers to love them – but the drawcard feature of Kiwibank's first mobile banking app may make banking relationships even more intimate. Due to be released this week, the bank's iPhone app has the unique feature, when it comes to mobile banking, of assigning customers their own online relationship manager to help deal with any queries via text or email."
"Money transfer via mobile phones has expanded to 16 percent of the total population in sub-Saharan Africa, according to a new World Bank study that provides a global picture for how people save, borrow, make payments and manage risk. The Global Financial Inclusion Database, or Global Findex, has found only 3 percent of the population in the rest of the world take advantage of money transfers through mobile phones."
A bank that can go anywhere, anytime, and fits in the pocket
"This bank can go anywhere, is open anytime, and fits inside the pocket of your jeans. And this is what Citibank has unveiled – its complete suite of Mobile Banking Applications for today’s widely popular smartphones such as iPhone, Blackberry and Android phones. Aneth Ng-Lim, Citibank Country Corporate Affairs, said in a roundtable discussion with the media that their free mobile app was designed to fit the lifestyle of their clients who are always on the go and have a need to constantly access their accounts."
Uganda: Housing Finance Set to Introduce Mobile Banking
"Housing Finance Bank (HFB) has moved to introduce a virtual Bank account scheme which enables clients to effect payments and money transfers. The all inclusive account which is a partnership with MCash Uganda limited was unveiled last week and allows HFB customers to save and send money within Uganda."
International Finance Corp., MasterCard Foundation working to expand microfinancing in Africa
"The World Bank partner devoted to developing the private sector and The MasterCard Foundation will spend millions of dollars so more impoverished Africans can get loans and other financial services, officials said Monday. At a Johannesburg news conference Monday, officials from the International Finance Corporation, which is part of the World Bank group, and The MasterCard Foundation said they would spend $37.4 million over five years to support banks and other institutions across Africa that provide small loans, a strategy known as microfinancing. People around the world have used such loans to lift themselves out of poverty by starting or expanding small businesses, sending children to school or buying fertilizer for subsistence farms."
Rabobank releases mobile banking app for Windows Phone
"Rabobank, one of the largest banks in the Netherlands, has released a mobile banking app for Windows Phone. Like its counterparts for Android, Blackberry and iOS, the Rabo Banking App lets users take care of their banking needs, be it checking their balance, viewing account history or making transfers, wherever they may be."
Bank of Ireland launches mobile banking app
"From midnight tonight, those who bank with Bank of Ireland will be able to download a new mobile banking app for the iPhone from the Apple App Store. According to Bank of Ireland, the new app will deliver high-speed, secure bank account access to the 500,000 personal customers who have signed up for its online banking service."
Commonwealth Bank tapping into growing mobile banking market
"Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia, is tapping into growing mobile banking market in the country, benefiting the increasing number of middle-class people in the largest economy in Southeast Asia. 'Up to 80 percent of [the Indonesian] population is less than 40 years old, 35 percent of whom use social media. If you look at the way people interact and travel in Indonesia, mobile is the key part of that,' Commonwealth Bank director of retail and business banking, Ian Phillip Whitehead, said in Singapore on Friday."
Kiwibank app fights 'soulless' banking
"All banks want their customers to love them – but the drawcard feature of Kiwibank's first mobile banking app may make banking relationships even more intimate. Due to be released this week, the bank's iPhone app has the unique feature, when it comes to mobile banking, of assigning customers their own online relationship manager to help deal with any queries via text or email."
Sunday, December 4, 2011
Mobile Banking Updates - Dec 4
MasterCard Backs And Partners With Mobile Banking Company mFoundry To Expand Reach Of NFC
"After announcing a new partnership with Intel, MasterCard is revealing a new collaboration to help spread the use of its NFC technology through its PayPass program. The credit card giant is making a strategic investment in mFoundry, a company that powers mobile banking solutions for more than 500 banks and credit unions nationwide."
Seizing the Mobile Banking Opportunity
"Feature-rich smartphones, high-speed 4G networks, the availability of downloadable apps and an increasingly mobile workforce have driven a huge uptick in information-based mobile banking services, such as transaction alerts and balance checks. In fact, mobile banking recently has begun to displace online banking for such information-based services."
Century launches mobile banking, alerts
"Century Bank and Trust is excited to announce the launch of free mobile banking and account alerts.
Mobile banking and account alerts put customers in the know and in control 24/7. With busy schedules and lifestyles, managing finances can be a challenge. Now mobile banking and account alerts allow customers to stay on top of their finances anytime, anywhere from their cell phones. Manage money on the go- check balances, transfer money, pay bills, receive account alerts and more."
Mobile Banking Can Pave the Way for NFC
"Google, Visa, MasterCard, Sprint, and even Pentagon Federal Credit Union. The list of early proponents of innovative near field communication tap and pay mobile technology keeps growing. But that brings two questions into sharp focus."
Opportunities for banks in this age of ubiquitous mobility
"Perhaps more startling than the penetration of mobile phones into the developing economies, is the fact that mobile phone users have ignored the natural boundaries of the electricity-grid and in 32 countries today the population of mobile data subscribers exceeds their on-grid populations. According to a recent study by CISCO1, this phenomenon will become visible at a regional level by the end of 2011 when the total number of mobile users in Sub-Saharan Africa and Southeast Asia will exceed their total on-grid populations. By the end of 2013, the same will occur in the Middle East."
Tyfone teams wtih Oregon credit union to offer iCashe Mobile Wallet
"Portland, Ore.-based mobile financial service company Tyfone is working with OnPoint, a credit union also based in Portland, to offer a new mobile wallet product called iCashe Mobile Wallet, the company said in an announcement. The iCashe Mobile Wallet lets OnPoint's mobile banking customers buy gift cards via their smartphones and send them using SMS text messaging or email. OnPoint is the first credit union in the U.S. to offer the iCashe Mobile Wallet, the announcement said."
"After announcing a new partnership with Intel, MasterCard is revealing a new collaboration to help spread the use of its NFC technology through its PayPass program. The credit card giant is making a strategic investment in mFoundry, a company that powers mobile banking solutions for more than 500 banks and credit unions nationwide."
Seizing the Mobile Banking Opportunity
"Feature-rich smartphones, high-speed 4G networks, the availability of downloadable apps and an increasingly mobile workforce have driven a huge uptick in information-based mobile banking services, such as transaction alerts and balance checks. In fact, mobile banking recently has begun to displace online banking for such information-based services."
Century launches mobile banking, alerts
"Century Bank and Trust is excited to announce the launch of free mobile banking and account alerts.
Mobile banking and account alerts put customers in the know and in control 24/7. With busy schedules and lifestyles, managing finances can be a challenge. Now mobile banking and account alerts allow customers to stay on top of their finances anytime, anywhere from their cell phones. Manage money on the go- check balances, transfer money, pay bills, receive account alerts and more."
Mobile Banking Can Pave the Way for NFC
"Google, Visa, MasterCard, Sprint, and even Pentagon Federal Credit Union. The list of early proponents of innovative near field communication tap and pay mobile technology keeps growing. But that brings two questions into sharp focus."
Opportunities for banks in this age of ubiquitous mobility
"Perhaps more startling than the penetration of mobile phones into the developing economies, is the fact that mobile phone users have ignored the natural boundaries of the electricity-grid and in 32 countries today the population of mobile data subscribers exceeds their on-grid populations. According to a recent study by CISCO1, this phenomenon will become visible at a regional level by the end of 2011 when the total number of mobile users in Sub-Saharan Africa and Southeast Asia will exceed their total on-grid populations. By the end of 2013, the same will occur in the Middle East."
Tyfone teams wtih Oregon credit union to offer iCashe Mobile Wallet
"Portland, Ore.-based mobile financial service company Tyfone is working with OnPoint, a credit union also based in Portland, to offer a new mobile wallet product called iCashe Mobile Wallet, the company said in an announcement. The iCashe Mobile Wallet lets OnPoint's mobile banking customers buy gift cards via their smartphones and send them using SMS text messaging or email. OnPoint is the first credit union in the U.S. to offer the iCashe Mobile Wallet, the announcement said."
Sunday, November 29, 2009
Mobile Banking Updates - Nov 29
Qualcomm’s Mobile Payment Strategy: Fix the “Costanza Wallet”
"While Qualcomm for many is synonymous with wireless, the company acquired Atlanta-based mobile banking startup Firethorn two years ago with an eye to also becoming a major player in the mobile payment space. More importantly, it acquired Firethorn founder Tripp Rackley — the man it hopes will make Qualcomm the Western Union of mobile."
MasterCard Canada Brings PayPass to BlackBerry Smartphones
"In partnership with BMO Bank of Montreal and Research In Motion, MasterCard Canada has announced that it is bringing mobile payments to BlackBerry smartphones through its MasterCard PayPass 'tap and go' contactless payment technology. MasterCard is beginning a four-month trial in which participants will use PayPass Mobile Tag-equipped BlackBerry smartphones to make purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass. As announced, the trial is contactless sticker-based and doesn't appear to include any application integration with the Blackberry handsets."
Banks Cooperate for Smart Phone Banking
"Local banks are working together to develop a standard system for smart phone-based mobile banking services prior to the upcoming debut here of Apple's iPhone, which continues to lead the global smart phone market.
According to industry sources, the Mobile Financial Council (MFC) plans to introduce a standard system for mobile banking services for smart phones late this month. The MFC is a joint council formed by 17 banks and other financial services providers, and the Korea Financial Telecommunications and Clearings Institute (KFTC)."
Money transfer to be No. 1 phone app in 2012
"We’ve talked before about how mobile banking is not only becoming more popular, but easier than ever. More and more people are putting aside their fears about transferring personal financial information via mobile networks in favor of convenience. Banks are responding by creating mobile applications that do everything from allowing members to check balances, transfer money between accounts, and even deposit checks. They’re also striving to make mobile banking as secure as possible. These advances, and probably to a larger degree, the fact that consumers use their cell phones nearly as much as their computers, have led information technology research company Gartner to predict that money transfer will be the most used type of phone application in 2012."
Digital Insight, MMV Partner on Mobile Banking
"Digital Insight has named Mobile Money Ventures, a joint technology launch by Citi and SK Telecom, as the online banker’s preferred mobile financial services provider."
"While Qualcomm for many is synonymous with wireless, the company acquired Atlanta-based mobile banking startup Firethorn two years ago with an eye to also becoming a major player in the mobile payment space. More importantly, it acquired Firethorn founder Tripp Rackley — the man it hopes will make Qualcomm the Western Union of mobile."
MasterCard Canada Brings PayPass to BlackBerry Smartphones
"In partnership with BMO Bank of Montreal and Research In Motion, MasterCard Canada has announced that it is bringing mobile payments to BlackBerry smartphones through its MasterCard PayPass 'tap and go' contactless payment technology. MasterCard is beginning a four-month trial in which participants will use PayPass Mobile Tag-equipped BlackBerry smartphones to make purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass. As announced, the trial is contactless sticker-based and doesn't appear to include any application integration with the Blackberry handsets."
Banks Cooperate for Smart Phone Banking
"Local banks are working together to develop a standard system for smart phone-based mobile banking services prior to the upcoming debut here of Apple's iPhone, which continues to lead the global smart phone market.
According to industry sources, the Mobile Financial Council (MFC) plans to introduce a standard system for mobile banking services for smart phones late this month. The MFC is a joint council formed by 17 banks and other financial services providers, and the Korea Financial Telecommunications and Clearings Institute (KFTC)."
Money transfer to be No. 1 phone app in 2012
"We’ve talked before about how mobile banking is not only becoming more popular, but easier than ever. More and more people are putting aside their fears about transferring personal financial information via mobile networks in favor of convenience. Banks are responding by creating mobile applications that do everything from allowing members to check balances, transfer money between accounts, and even deposit checks. They’re also striving to make mobile banking as secure as possible. These advances, and probably to a larger degree, the fact that consumers use their cell phones nearly as much as their computers, have led information technology research company Gartner to predict that money transfer will be the most used type of phone application in 2012."
Digital Insight, MMV Partner on Mobile Banking
"Digital Insight has named Mobile Money Ventures, a joint technology launch by Citi and SK Telecom, as the online banker’s preferred mobile financial services provider."
Sunday, November 22, 2009
Mobile Banking Updates - Nov 22
Mobile Money Ventures and CPNI Partner to Provide Financial Institutions Innovative Mobile Payments
"Mobile Money Ventures (MMV) and CPNI Inc. (CPNI) today announced they will be working together to offer financial institutions a comprehensive solution that integrates CPNI's mobile commerce solutions into MMV's mobile financial services platform. The multifaceted relationship will combine CPNI's PATsend(TM) remote mobile payment technology into MMV's next generation mobile platform, with the opportunity to integrate PATbuy(TM) mobile purchases in the next phase.
A leading global solutions provider, MMV's current offering enables consumers to handle all of their financial activities-banking, bill payments, stock trades, tracking and budgeting-on any mobile handset or wireless carrier. By incorporating PATsend, and in the subsequent stage PATbuy, into its existing platform, MMV will be able to provide turnkey solutions for financial institutions and increase the speed at which their customers can quickly begin making convenient remote mobile purchases and payments down the road."
Frost Unwraps Mobile Banking in Time for the Holidays
"Customers of Frost Bank will now be able to bank by mobile device through Frost Mobile, a new service unveiled just in time for the holidays. 'The best gift we can give our customers for the holidays is the convenience, ease and peace of mind of mobile banking,' said Bobby Berman, executive vice president. 'This will enable our customers to manage their finances anytime, anywhere, safely and securely.'"
Judge rejects AT&T's bid to pull Verizon ads
"A federal judge on Wednesday denied a request by AT&T to force competitor Verizon Wireless to pull its "There's a Map for That" commercials. But the judge scheduled a Dec. 16 hearing to give the AT&T attorneys another chance to make their case. AT&T filed the lawsuit in federal court in Atlanta earlier this month and asked for a temporary restraining order and a permanent injunction to stop the ads. It contends they are misleading and amount to deceptive trade practices."
MasterCard Connecting the Mobile Banking Dots
"In MasterCard Inc.'s vision of the future, mobile phones have become versatile financial tools that offer a broad range of payments capabilities. This week, the Purchase, N.Y., company took several steps that, together, demonstrate exactly how it plans to realize that vision. MasterCard announced initiatives that included payments projects in Norway and Brazil and plans to expand its existing person-to-person transfer service globally. Taken separately, they might look like incremental moves in discrete markets, but considered as a whole, they show how the company is starting to connect the dots required to make mobile financial services both widely available and easy to use."
Visa Mobile Banking App for Android Now Available For U.S. Bank Customers
"US Bank and Visa announced yesterday that the new Visa Mobile app for phones carrying the Google Android mobile operating system. Visa Mobile is the first mobile banking app to combine alerts, offers and a locator into one convenient app."
Make mobile banking pay its way - Clairmail Whitepaper
"Mobile Money Ventures (MMV) and CPNI Inc. (CPNI) today announced they will be working together to offer financial institutions a comprehensive solution that integrates CPNI's mobile commerce solutions into MMV's mobile financial services platform. The multifaceted relationship will combine CPNI's PATsend(TM) remote mobile payment technology into MMV's next generation mobile platform, with the opportunity to integrate PATbuy(TM) mobile purchases in the next phase.
A leading global solutions provider, MMV's current offering enables consumers to handle all of their financial activities-banking, bill payments, stock trades, tracking and budgeting-on any mobile handset or wireless carrier. By incorporating PATsend, and in the subsequent stage PATbuy, into its existing platform, MMV will be able to provide turnkey solutions for financial institutions and increase the speed at which their customers can quickly begin making convenient remote mobile purchases and payments down the road."
Frost Unwraps Mobile Banking in Time for the Holidays
"Customers of Frost Bank will now be able to bank by mobile device through Frost Mobile, a new service unveiled just in time for the holidays. 'The best gift we can give our customers for the holidays is the convenience, ease and peace of mind of mobile banking,' said Bobby Berman, executive vice president. 'This will enable our customers to manage their finances anytime, anywhere, safely and securely.'"
Judge rejects AT&T's bid to pull Verizon ads
"A federal judge on Wednesday denied a request by AT&T to force competitor Verizon Wireless to pull its "There's a Map for That" commercials. But the judge scheduled a Dec. 16 hearing to give the AT&T attorneys another chance to make their case. AT&T filed the lawsuit in federal court in Atlanta earlier this month and asked for a temporary restraining order and a permanent injunction to stop the ads. It contends they are misleading and amount to deceptive trade practices."
MasterCard Connecting the Mobile Banking Dots
"In MasterCard Inc.'s vision of the future, mobile phones have become versatile financial tools that offer a broad range of payments capabilities. This week, the Purchase, N.Y., company took several steps that, together, demonstrate exactly how it plans to realize that vision. MasterCard announced initiatives that included payments projects in Norway and Brazil and plans to expand its existing person-to-person transfer service globally. Taken separately, they might look like incremental moves in discrete markets, but considered as a whole, they show how the company is starting to connect the dots required to make mobile financial services both widely available and easy to use."
Visa Mobile Banking App for Android Now Available For U.S. Bank Customers
"US Bank and Visa announced yesterday that the new Visa Mobile app for phones carrying the Google Android mobile operating system. Visa Mobile is the first mobile banking app to combine alerts, offers and a locator into one convenient app."
Make mobile banking pay its way - Clairmail Whitepaper
Tuesday, November 17, 2009
Mobile Banking Updates - Nov 17
At Checkout, More Ways to Avoid Cash or Plastic
"For almost as long as Americans have been hearing about jetpacks and picturephones, they have been hearing that money — bills, coins and plastic cards — might cease to exist, or at least become a novelty.
Instead of leather wallets, consumers could, sooner than they think, carry virtual wallets, with their credit card and bank information stored on remote computers that are accessible everywhere and anytime. They could use them whenever they want to buy something, whether on the Web, on cellphones or at cash registers."
Leading Cambodian Bank selects M-Com Technology for Mobile Banking and Payments
"International mobile banking solution provider, M-Com, announced today that ACLEDA Bank Plc has selected its flagship product – BankAnywhere – to power its mobile banking and payment services.
'We are delighted to have been selected by ACLEDA to help them execute their self-service strategy' comments M-Com CEO and Founder, Adam Clark. 'Mobile phones have transformed the lives of many Cambodians in a positive way, and we will work with ACLEDA to bring them compelling mobile financial services that deliver convenience, control and more financial freedom to them.'”
PSCU Financial Services Unveils White Papers on Maximizing Mobile Banking Services, Meeting Small Business Owners' Needs
"PSCU Financial Services, the nation's largest credit union service organization, is posting an ongoing series of free educational white papers on www.pscufs.com. The white papers, designed to help credit unions attract new members and earn their loyalty, include topics such as how to optimize and market mobile banking services, and how to build a database that will identify small business owners and their financial needs. These papers and others are available online at: http://www.pscufs.com/press_room/white_papers_research.htm"
NORTHWEST SAVINGS INTRODUCES BUSINESS MOBILE BANKING
"Northwest Savings Bank has introduced Business Mobile Banking, a new service that allows business customers to do their banking whenever they wish from any place that their cellphone or mobile communications device can operate.
'Business Mobile Banking offers our business customers a new way to save time, and time is money,' said Joseph Schwind, Assistant Vice President, Electronic Payment / Product Services, of Northwest Savings Bank, who made the announcement. 'Our customers can now bank literally from wherever they are, 24/7. It's the ultimate in banking convenience. The world is now their office.'"
MasterCard Launches its Authentication Program for Mobile Devices
"MasterCard has today launched an innovative solution to harness the mobile phone as a form factor for its Chip Authentication Program. The initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors.
MasterCard’s CAP program (Chip Authentication Program) focuses on solutions that allow cardholders to authenticatehemselves using their existing EMV banking card and a personal card reader."
"For almost as long as Americans have been hearing about jetpacks and picturephones, they have been hearing that money — bills, coins and plastic cards — might cease to exist, or at least become a novelty.
Instead of leather wallets, consumers could, sooner than they think, carry virtual wallets, with their credit card and bank information stored on remote computers that are accessible everywhere and anytime. They could use them whenever they want to buy something, whether on the Web, on cellphones or at cash registers."
Leading Cambodian Bank selects M-Com Technology for Mobile Banking and Payments
"International mobile banking solution provider, M-Com, announced today that ACLEDA Bank Plc has selected its flagship product – BankAnywhere – to power its mobile banking and payment services.
'We are delighted to have been selected by ACLEDA to help them execute their self-service strategy' comments M-Com CEO and Founder, Adam Clark. 'Mobile phones have transformed the lives of many Cambodians in a positive way, and we will work with ACLEDA to bring them compelling mobile financial services that deliver convenience, control and more financial freedom to them.'”
PSCU Financial Services Unveils White Papers on Maximizing Mobile Banking Services, Meeting Small Business Owners' Needs
"PSCU Financial Services, the nation's largest credit union service organization, is posting an ongoing series of free educational white papers on www.pscufs.com. The white papers, designed to help credit unions attract new members and earn their loyalty, include topics such as how to optimize and market mobile banking services, and how to build a database that will identify small business owners and their financial needs. These papers and others are available online at: http://www.pscufs.com/press_room/white_papers_research.htm"
NORTHWEST SAVINGS INTRODUCES BUSINESS MOBILE BANKING
"Northwest Savings Bank has introduced Business Mobile Banking, a new service that allows business customers to do their banking whenever they wish from any place that their cellphone or mobile communications device can operate.
'Business Mobile Banking offers our business customers a new way to save time, and time is money,' said Joseph Schwind, Assistant Vice President, Electronic Payment / Product Services, of Northwest Savings Bank, who made the announcement. 'Our customers can now bank literally from wherever they are, 24/7. It's the ultimate in banking convenience. The world is now their office.'"
MasterCard Launches its Authentication Program for Mobile Devices
"MasterCard has today launched an innovative solution to harness the mobile phone as a form factor for its Chip Authentication Program. The initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors.
MasterCard’s CAP program (Chip Authentication Program) focuses on solutions that allow cardholders to authenticatehemselves using their existing EMV banking card and a personal card reader."
Monday, July 20, 2009
Mobile Banking Updates - Jul 20
MasterCard Launches Priceless Picks iPhone Application
"MasterCard has announced the availability of the MasterCard Priceless Picks iPhone application which it says 'gives consumers a location-based utility to find and share their favorite picks with friends and family. Leveraging the iPhone’s GPS technology, users can instantly find shopping deals, entertainment options, dining venues and special experiences just steps away from where they are or where they’re traveling to, for business or for pleasure. Priceless Picks is available for free download at the iPhone App Store.'"
Mobile Apps: What's in Your Future?
"More predictions about the future of mobile devices are coming out of the MobileBeat Conference in San Francisco. Ilja Laurs, the head of GetJar -- a mobile device app store that boasts 14 million downloads monthly -- recently said that mobile phone applications "will be as big if not bigger than the Internet," according to the BBC."
Which bank will be first to embrace the mobile browser?
"The headline is the statement from Vic Vic Gundotra, Google Engineering vice president and developer evangelist: App Stores are not the future – Google"
7 Steps to Make Successful Mobile Money Offerings in Emerging Markets
"Mobile money services have huge potential in markets where mobile penetration vastly outpaces the number of people with bank accounts, according to Gartner, Inc. However, service providers, including banks and mobile operators will need to invest substantial efforts in building an "ecosystem" to make the service work within the local regulatory and business environment."
Ten Companies to Help You Make Mobile Phone Payments
"Mobile banking is becoming increasingly popular but there are still only a handful of companies out there that are offering good mobile payment systems. There are basically two types of these companies: those that let you use your phone to charge payments to your bank account and those that let you charge payments to your cell phone bill. Most of the companies that are working in this industry are independent startups but there are also a few huge industry players that are involved in this game."
"MasterCard has announced the availability of the MasterCard Priceless Picks iPhone application which it says 'gives consumers a location-based utility to find and share their favorite picks with friends and family. Leveraging the iPhone’s GPS technology, users can instantly find shopping deals, entertainment options, dining venues and special experiences just steps away from where they are or where they’re traveling to, for business or for pleasure. Priceless Picks is available for free download at the iPhone App Store.'"
Mobile Apps: What's in Your Future?
"More predictions about the future of mobile devices are coming out of the MobileBeat Conference in San Francisco. Ilja Laurs, the head of GetJar -- a mobile device app store that boasts 14 million downloads monthly -- recently said that mobile phone applications "will be as big if not bigger than the Internet," according to the BBC."
Which bank will be first to embrace the mobile browser?
"The headline is the statement from Vic Vic Gundotra, Google Engineering vice president and developer evangelist: App Stores are not the future – Google"
7 Steps to Make Successful Mobile Money Offerings in Emerging Markets
"Mobile money services have huge potential in markets where mobile penetration vastly outpaces the number of people with bank accounts, according to Gartner, Inc. However, service providers, including banks and mobile operators will need to invest substantial efforts in building an "ecosystem" to make the service work within the local regulatory and business environment."
Ten Companies to Help You Make Mobile Phone Payments
"Mobile banking is becoming increasingly popular but there are still only a handful of companies out there that are offering good mobile payment systems. There are basically two types of these companies: those that let you use your phone to charge payments to your bank account and those that let you charge payments to your cell phone bill. Most of the companies that are working in this industry are independent startups but there are also a few huge industry players that are involved in this game."
Monday, May 25, 2009
Mobile Banking Updates - May 25
Is USAA the second largest in mobile banking?
"Last week, USAA released astounding figures on its mobile banking usage: The 10-month-old service is already used by 11.4% -- about 800,000 -- of its 7 million members, making USAA one of the largest mobile banking providers in the country"
Some thoughts on Mastercard's P2P payment platform
"MasterCard recently announced the launch of a mobile-based service for P2P transactions. This is a great idea and makes a lot of sense. The concept is that you register your MasterCard for the service."
Sybase Ranked Tops by ABI Research
"The latest Vendor Matrix released by ABI Research, ranked Sybase at the top, according to Sybase officials. Digby and JiGrahak Mobility Solutions claimed the second and third spots in the company’s new worldwide evaluation of mobile commerce vendors using technologies other than Near Field Communications."
Kenya to enact laws regulating mobile phone banking
"Kenya is introducing several laws to strengthen its financial sector as new products such as mobile phone banking fill the market in the wake of technological advances, its finance minister said on Monday. The east African nation of 36 million people has only 6.3 million traditional branch-held bank accounts, leaving a gap that is being filled by telecom operators with mobile phone money transfer services."
Barclays revamps m-banking service
"The banking information presented to customers through their mobile phone now fits easily on their browser making it quicker for customers to view their account balance, statements at a glance, make transfers between accounts and make payments outside of the bank. In addition, they can find branches and ATMs, get answers to banking questions, view product offers and get support through the online banking helpdesk."
"Last week, USAA released astounding figures on its mobile banking usage: The 10-month-old service is already used by 11.4% -- about 800,000 -- of its 7 million members, making USAA one of the largest mobile banking providers in the country"
Some thoughts on Mastercard's P2P payment platform
"MasterCard recently announced the launch of a mobile-based service for P2P transactions. This is a great idea and makes a lot of sense. The concept is that you register your MasterCard for the service."
Sybase Ranked Tops by ABI Research
"The latest Vendor Matrix released by ABI Research, ranked Sybase at the top, according to Sybase officials. Digby and JiGrahak Mobility Solutions claimed the second and third spots in the company’s new worldwide evaluation of mobile commerce vendors using technologies other than Near Field Communications."
Kenya to enact laws regulating mobile phone banking
"Kenya is introducing several laws to strengthen its financial sector as new products such as mobile phone banking fill the market in the wake of technological advances, its finance minister said on Monday. The east African nation of 36 million people has only 6.3 million traditional branch-held bank accounts, leaving a gap that is being filled by telecom operators with mobile phone money transfer services."
Barclays revamps m-banking service
"The banking information presented to customers through their mobile phone now fits easily on their browser making it quicker for customers to view their account balance, statements at a glance, make transfers between accounts and make payments outside of the bank. In addition, they can find branches and ATMs, get answers to banking questions, view product offers and get support through the online banking helpdesk."
Tuesday, May 19, 2009
Mobile Banking Updates - May 19
Mobile banking uptake rises
"The uptake of mobile banking services is increasing as consumers seek to better monitor their finances, according to research. More than half (52 per cent) of 1,000 UK consumers polled by Monilink and The Future Foundation are checking their bank balances via their mobile phone more often – a usage increase of 10 per cent since October 2008."
Mobile banking: You’re either in, or you’re out (May 09)
"Despite numerous formats and options, it’s relatively easy to hop aboard the mobile banking bus. No time like the present. You’ll likely be forced to do it defensively anyway. For a variety of reasons—technical, demographic, economic—there is now a great deal of interest in, and growing usage of, mobile devices for banking. Most of that use is still informational, like balance checking."
PayPal Mobile Update
"Eric Duprat from PayPal’s mobile team with a quick update. It looks like Android users in the US love the new PayPal application that launched last week. It’s received 4 out of 5 stars and jumped to the top 20 of finance apps within just two days of its launch."
MasterCard Is Pushing Mobile Money
"MasterCard (MA) is promoting a tempting new offer: Instead of using checks or wire transfers to send money, U.S. customers can soon text the funds directly to another person through their cell phones. Dubbed MoneySend, the new service promises to 'make it faster, simpler, and more convenient for people to send money to each other using the MasterCard network,'"
"The uptake of mobile banking services is increasing as consumers seek to better monitor their finances, according to research. More than half (52 per cent) of 1,000 UK consumers polled by Monilink and The Future Foundation are checking their bank balances via their mobile phone more often – a usage increase of 10 per cent since October 2008."
Mobile banking: You’re either in, or you’re out (May 09)
"Despite numerous formats and options, it’s relatively easy to hop aboard the mobile banking bus. No time like the present. You’ll likely be forced to do it defensively anyway. For a variety of reasons—technical, demographic, economic—there is now a great deal of interest in, and growing usage of, mobile devices for banking. Most of that use is still informational, like balance checking."
PayPal Mobile Update
"Eric Duprat from PayPal’s mobile team with a quick update. It looks like Android users in the US love the new PayPal application that launched last week. It’s received 4 out of 5 stars and jumped to the top 20 of finance apps within just two days of its launch."
MasterCard Is Pushing Mobile Money
"MasterCard (MA) is promoting a tempting new offer: Instead of using checks or wire transfers to send money, U.S. customers can soon text the funds directly to another person through their cell phones. Dubbed MoneySend, the new service promises to 'make it faster, simpler, and more convenient for people to send money to each other using the MasterCard network,'"
Wednesday, April 1, 2009
Mobile Banking Updates - Apr 1
Monitise Works with DeviceAnywhere to Make Mobile Money Available to Everyone
"DeviceAnywhere, the leading global provider of mobile application testing and development, today announced that it is working with Monitise, the mobile money experts, to test Monitise’s Mobile Money Manager across DeviceAnywhere’s 2000+ devices and 30 operator platforms."
Sun, C-SAM Launch Mobile Banking Solution
"Sun Microsystems and C-SAM have introduced a new mbanking solution for Indian banks that can be enabled on GSM or CDMA. 'Mobile banking will eventually allow users to make payments at the physical point of sale. Mobile contact-less payments will make up 10% of the contact-less market by 2010,' said Swapan Dutta, TeleWeb Sales., Sun Microsystems India"
MasterCard enhances mobile payment sticker for handsets
"MasterCard Worldwide has teamed up with Blaze Mobile to introduce the Blaze Mobile MasterCard PayPass mobile payment sticker.The small mobile payment sticker can be affixed to any mobile device, enabling it to be used for "Tap & Go" purchases at any of the over 141,000 merchant locations that accept PayPass."
Bank Of Stockton Launches ClairMail-Powered Alerts
"ClairMail, Inc., the leader in mobile banking and payment solutions that enable complete control over finances from any mobile phone, today announced that Bank of Stockton has launched ClairMail's mobile alerts service. With ClairMail's mobile alerts, Bank of Stockton customers can instantly have time-sensitive balance, transaction and security notifications sent directly to their mobile phones via SMS - empowering them with greater control over all aspects of their finances."
"DeviceAnywhere, the leading global provider of mobile application testing and development, today announced that it is working with Monitise, the mobile money experts, to test Monitise’s Mobile Money Manager across DeviceAnywhere’s 2000+ devices and 30 operator platforms."
Sun, C-SAM Launch Mobile Banking Solution
"Sun Microsystems and C-SAM have introduced a new mbanking solution for Indian banks that can be enabled on GSM or CDMA. 'Mobile banking will eventually allow users to make payments at the physical point of sale. Mobile contact-less payments will make up 10% of the contact-less market by 2010,' said Swapan Dutta, TeleWeb Sales., Sun Microsystems India"
MasterCard enhances mobile payment sticker for handsets
"MasterCard Worldwide has teamed up with Blaze Mobile to introduce the Blaze Mobile MasterCard PayPass mobile payment sticker.The small mobile payment sticker can be affixed to any mobile device, enabling it to be used for "Tap & Go" purchases at any of the over 141,000 merchant locations that accept PayPass."
Bank Of Stockton Launches ClairMail-Powered Alerts
"ClairMail, Inc., the leader in mobile banking and payment solutions that enable complete control over finances from any mobile phone, today announced that Bank of Stockton has launched ClairMail's mobile alerts service. With ClairMail's mobile alerts, Bank of Stockton customers can instantly have time-sensitive balance, transaction and security notifications sent directly to their mobile phones via SMS - empowering them with greater control over all aspects of their finances."
Thursday, March 26, 2009
Mobile Banking Updates - Mar 26
Nokia invests in mobile money firm Obopay
"The world's top cellphone maker Nokia (NOK1V.HE) has bought a minority stake in Obopay, enabling the U.S. mobile money firm to extend its product offering and geographical presence.'This investment reflects our belief in the global potential for mobile payments,' Teppo Paavola, head of Corporate Business Development at Nokia, said in a statement. The size of the investment was not disclosed."
MasterCard outlines mobile strategy
"The last piece of the mobile contactless payments puzzle in the U.S. is the commercial roll-out of NFC-enabled handsets from major OEMs and carriers, according to MasterCard. MasterCard Worldwide announced the issuance of the 50 millionth MasterCard PayPass card or mobile device, as of the fourth quarter 2008, which in the last year more than doubles the number of cards and devices in circulation worldwide."
HSBC adds mobile banking to outsourced payments platform
"Under the deal, HSBC's MPS (Managed Payments Service) - which brings together transactional banking, multi-bank connectivity and full data integration in an outsourced proposition - will now incorporate Petra Financial's Touchstone Mobile Banking software as an additional feature."
EPL and TRG Mobilearth team on m-banking offering
"Their approach to mobile banking is easy-to-use, cost effective and flexible. In addition, their culture and commitment to service strongly aligns with our own. We are excited to team up with Mobilearth to offer this emerging important member service."
"The world's top cellphone maker Nokia (NOK1V.HE) has bought a minority stake in Obopay, enabling the U.S. mobile money firm to extend its product offering and geographical presence.'This investment reflects our belief in the global potential for mobile payments,' Teppo Paavola, head of Corporate Business Development at Nokia, said in a statement. The size of the investment was not disclosed."
MasterCard outlines mobile strategy
"The last piece of the mobile contactless payments puzzle in the U.S. is the commercial roll-out of NFC-enabled handsets from major OEMs and carriers, according to MasterCard. MasterCard Worldwide announced the issuance of the 50 millionth MasterCard PayPass card or mobile device, as of the fourth quarter 2008, which in the last year more than doubles the number of cards and devices in circulation worldwide."
HSBC adds mobile banking to outsourced payments platform
"Under the deal, HSBC's MPS (Managed Payments Service) - which brings together transactional banking, multi-bank connectivity and full data integration in an outsourced proposition - will now incorporate Petra Financial's Touchstone Mobile Banking software as an additional feature."
EPL and TRG Mobilearth team on m-banking offering
"Their approach to mobile banking is easy-to-use, cost effective and flexible. In addition, their culture and commitment to service strongly aligns with our own. We are excited to team up with Mobilearth to offer this emerging important member service."
Thursday, October 30, 2008
Mobile Banking Updates - Oct 30
Motorola's Razr Rules the Mobile Web
"Apple's iPhone is currently the biggest of big deals. The No. 1 phone, right? Think again. Know which well-known phone outsells the iPhone in the U.S.? I'll give you a big hint: This "other" phone has been around for some time, and more people use it to access the mobile Web than any other handset around. Give up? Say hello again to Motorola's Razr phone."
MasterCard Mobile Provides Over-the-Air Provisioning for Mobile
"MasterCard has announced the launch of a MasterCard Over-the-Air Provisioning Service, calling it "the first program of its kind that enables issuers to perform over-the-air personalization of their cardholders' mobile devices in an easy, one-step process."
Mobile Banking Developer Gets Development Funding
"PlaNet Finance has received a US$1.7 million grant from the Bill & Melinda Gates Foundation to support a Mobile Banking Project to provide microfinance clients with enhanced access to banking services. The project was co-developed with mobile operator, Orange."
Prepaid Will Rely On Mobile Banking For Info
"Person-to-person funds transfers and mobile payments at the point of sale are still a ways off in the United States. But mobile banking has a role to play for consumers, according to speakers at SourceMedia’s ATM, Debit & Prepaid Forum in Chandler, Ariz. (SourceMedia publishes Prepaid Trends.)"
SK Telecom's Mobile Finance Technology Goes Global
"SK Telecom has launched the first commercial mobile financial services with Citibank Hong Kong through Mobile Money Ventures, its joint venture with Citi. Buoyed by the growing market of mobile bankers' support from telco operators and handset manufacturers, the company expects its mobile finance technology to take off in the global market."
"Apple's iPhone is currently the biggest of big deals. The No. 1 phone, right? Think again. Know which well-known phone outsells the iPhone in the U.S.? I'll give you a big hint: This "other" phone has been around for some time, and more people use it to access the mobile Web than any other handset around. Give up? Say hello again to Motorola's Razr phone."
MasterCard Mobile Provides Over-the-Air Provisioning for Mobile
"MasterCard has announced the launch of a MasterCard Over-the-Air Provisioning Service, calling it "the first program of its kind that enables issuers to perform over-the-air personalization of their cardholders' mobile devices in an easy, one-step process."
Mobile Banking Developer Gets Development Funding
"PlaNet Finance has received a US$1.7 million grant from the Bill & Melinda Gates Foundation to support a Mobile Banking Project to provide microfinance clients with enhanced access to banking services. The project was co-developed with mobile operator, Orange."
Prepaid Will Rely On Mobile Banking For Info
"Person-to-person funds transfers and mobile payments at the point of sale are still a ways off in the United States. But mobile banking has a role to play for consumers, according to speakers at SourceMedia’s ATM, Debit & Prepaid Forum in Chandler, Ariz. (SourceMedia publishes Prepaid Trends.)"
SK Telecom's Mobile Finance Technology Goes Global
"SK Telecom has launched the first commercial mobile financial services with Citibank Hong Kong through Mobile Money Ventures, its joint venture with Citi. Buoyed by the growing market of mobile bankers' support from telco operators and handset manufacturers, the company expects its mobile finance technology to take off in the global market."
Sunday, July 6, 2008
Recap from Mobile Commerce Summit - Part 2
One of the most interesting sessions from the Mobile Commerce Summit was titled "NFC Mobile Payments Ecosystem and Applications - An Update of Pilots around the World."
Here are a few of the comments that caught my attention:
1) When Dom Morea (SVP - First Data) was asked the question, "Who will pay?" (i.e. how are the carriers compensated in the new model) He responded, "If incremental value is created people will pay."
In other words, don't worry about specifying "who" right now because the fact is everyone will be willing to pay if the solution generates revenue and creates shareholder value.
2) James Anderson (VP - Mastercard) then added the following:
* If the only solution is to take dollars from an existing player - we're dead.
* Look at your customer base. Figure out who will pay for NFC and then sell to them.
* 80% of the value will come from 20% of the market
* The banks that lead will begin to take good clients from other institutions. That's the benefit that will cover the upfront cost until the value is proven.
Here are a few of the comments that caught my attention:
1) When Dom Morea (SVP - First Data) was asked the question, "Who will pay?" (i.e. how are the carriers compensated in the new model) He responded, "If incremental value is created people will pay."
In other words, don't worry about specifying "who" right now because the fact is everyone will be willing to pay if the solution generates revenue and creates shareholder value.
2) James Anderson (VP - Mastercard) then added the following:
* If the only solution is to take dollars from an existing player - we're dead.
* Look at your customer base. Figure out who will pay for NFC and then sell to them.
* 80% of the value will come from 20% of the market
* The banks that lead will begin to take good clients from other institutions. That's the benefit that will cover the upfront cost until the value is proven.
Thursday, June 26, 2008
Mobile Summit & Updates for Week of 6/23
I'm just returning from the 2nd Annual Mobile Commerce Summit, and I'd like to take a moment to thank Emily Otani and the team at SourceMedia. The mobile banking content was fresh, the speakers were first class, and the venue (Caesars) was the ideal location.
I'm still organizing my notes so you'll have to wait a few more days before I share any of the content; however, there are still lots of newsworthy items. For instance...
Mobile Money Ventures and Android
"Mobile Money Ventures, a joint venture of Citi and SK Telecom, has announced that its solution for mobile financial services is compatible with Android, a software stack for mobile devices that includes an operating system, middleware and key applications."
BECU Signs On with Firethorn
"Firethorn Holdings LLC, a Qualcomm company, today announced that it has added BECU (formally known as Boeing Employees' Credit Union) to its growing roster of financial institution customers."
Mastercard and Obopay Join up for P-2-P
"MasterCard is partnering California-based Obopay to provide an on-demand person-to-person (P2P) mobile payments service to its US cardholders. The service - offered via MasterCard's P2P money transfer system MoneySend - will enable issuing banks to provide a mobile payments service to cardholders on all credit, debit and prepaid MasterCard-branded products."
Delta Mobile an mShift Design (http://mobile.delta.com)
"Delta Air Lines Inc. has hooked up with the Transportation Security Administration (TSA) at New York's LaGuardia Airport to let Delta fliers use their Web-enabled mobile devices to check-in and get an electronic boarding passes."
iPhone Effect on Mobile Banking
"Mobile banking has had its fits and starts, and it has a long way to go before most consumers try it, let alone make it second nature. But let’s face it: There’s no one in the banking industry like Steve Jobs."
ABSA Reaches Half Million Mobile Banking Clients
"After a cautious beginning a few years ago, Cellphone Banking is starting to deliver on its promise of putting ‘your bank in your pocket’, and allowing you to transact anywhere you go. Absa Bank this week celebrated its first major milestone for this emerging banking channel, reaching half-a-million Cellphone Banking customers. Absa’s Managing Executive for Digital Channels, Christo Vrey, says that with 38 million cellular subscribers nationwide, there is a great opportunity for the mobile channel to become the primary banking interface for many South Africans."
Mobile-banking apps with mobile carriers
"Financial institutions are looking to mobile banking as a way to round out their banking options, providing their customers and members more convenient ways to bank. And wireless carriers are offering more ways to get on the mobile-banking bandwagon, connecting FIs to their networks. “It’s a bit of ‘Gold Rush,’” said Nick Holland, a senior analyst at Boston-based Aite Group. 'Mobile banking is almost not an option.'"
I'm still organizing my notes so you'll have to wait a few more days before I share any of the content; however, there are still lots of newsworthy items. For instance...
Mobile Money Ventures and Android
"Mobile Money Ventures, a joint venture of Citi and SK Telecom, has announced that its solution for mobile financial services is compatible with Android, a software stack for mobile devices that includes an operating system, middleware and key applications."
BECU Signs On with Firethorn
"Firethorn Holdings LLC, a Qualcomm company, today announced that it has added BECU (formally known as Boeing Employees' Credit Union) to its growing roster of financial institution customers."
Mastercard and Obopay Join up for P-2-P
"MasterCard is partnering California-based Obopay to provide an on-demand person-to-person (P2P) mobile payments service to its US cardholders. The service - offered via MasterCard's P2P money transfer system MoneySend - will enable issuing banks to provide a mobile payments service to cardholders on all credit, debit and prepaid MasterCard-branded products."
Delta Mobile an mShift Design (http://mobile.delta.com)
"Delta Air Lines Inc. has hooked up with the Transportation Security Administration (TSA) at New York's LaGuardia Airport to let Delta fliers use their Web-enabled mobile devices to check-in and get an electronic boarding passes."
iPhone Effect on Mobile Banking
"Mobile banking has had its fits and starts, and it has a long way to go before most consumers try it, let alone make it second nature. But let’s face it: There’s no one in the banking industry like Steve Jobs."
ABSA Reaches Half Million Mobile Banking Clients
"After a cautious beginning a few years ago, Cellphone Banking is starting to deliver on its promise of putting ‘your bank in your pocket’, and allowing you to transact anywhere you go. Absa Bank this week celebrated its first major milestone for this emerging banking channel, reaching half-a-million Cellphone Banking customers. Absa’s Managing Executive for Digital Channels, Christo Vrey, says that with 38 million cellular subscribers nationwide, there is a great opportunity for the mobile channel to become the primary banking interface for many South Africans."
Mobile-banking apps with mobile carriers
"Financial institutions are looking to mobile banking as a way to round out their banking options, providing their customers and members more convenient ways to bank. And wireless carriers are offering more ways to get on the mobile-banking bandwagon, connecting FIs to their networks. “It’s a bit of ‘Gold Rush,’” said Nick Holland, a senior analyst at Boston-based Aite Group. 'Mobile banking is almost not an option.'"
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