"Would you like to save on mobile banking transaction charges? Then, you need to know that only four banks out of 59 banks charge customers for using the interbank mobile payment system and even NPCI charges just 25 paise per IMPS transaction from the remitter bank." Continue Reading
Showing posts with label SBI. Show all posts
Showing posts with label SBI. Show all posts
Tuesday, January 7, 2014
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."
Thursday, March 22, 2012
International Mobile Banking Updates - Mar 22
Telco MERCHANTS ENCOURAGED TO GET MOBILE BY GOOGLE AND MOBANK GROUP
"Mobile technology company, The MoBank Group has been confirmed as a vendor for Google’s “Get Mobile” or GetMo initiative. GetMo is a Google-led initiative dedicated to helping UK businesses ‘Get Mobile’ by providing them with the tools and resources they need to make their websites more mobile friendly. It aims to make the integration onto mCommerce easy for businesses by providing them with recommended technology and expertise. As part of this, MoBank, as a supplier in the mCommerce space is confirmed as a vendor for Google’s newly launched GetMo initiative in the UK."
NAB upgrades mobile banking app
"The Bank says this is more secure than using an Internet banking password. The new versions also now allow customers to set future-dated bill payments and funds transfers, without having to log-on via a PC. According to NAB's executive general manager of direct banking, Sam Plowman: 'Mobile banking is NAB's fastest growing channel, with 300 percent growth in the last year and one in three NAB Internet banking logins are now done on a mobile device.'"
SBI to allow mobile banking without a/c
"Mumbai: State Bank of India has started a pilot project that would allow banking through mobile phones even if the customers do not have a bank account. The scheme, called ‘Mobicash’, had been introduced in New Delhi and Mumbai. The service, much like a mobile prepaid cards, allows money to be “loaded” on customer’s mobile that he can then spend. “We have launched the product on a pilot basis and will introduce them in more cities in a few week,” said Praveen Kumar Singh, assistant general manager, New Business, SBI."
Eko’s Mobile Banking: Demonstrating the Power of a Basic Payments Product
"Eko was the first company dedicated to a mobile phone-based basic savings account and payment service for the unbanked in India. Launched in 2007, Eko has carefully developed a mobile-based service usable on the most basic of handsets and continually revised and re-fashioned its approach. At first, Eko experimented with a basic deposit and payment service from one Eko account to another."
Go slow on mobile wallet
"Airtel Money’s latest advertisement is hard to miss. For the first time, the virtues of mobile banking are being conveyed to customers. Banks such as HDFC Bank, ICICI Bank, SBI, Bank of India, Corporation Bank and Standard Chartered are offering this service. However, not many know the manner of transacting or the kind of transactions that can be done using mobile phones and the charges involved."
Mobile-Banking-in-Pakistan
"Globally,-Mobile-Banking,-or-mbanking,-has-emerged-as-a-commercially-viable-and-customer-friendly-alternate-distribution-channel-for-financial-services.-Generally,-mobile-banking-is-about-using-one's-mobile-handset-to-avail-financial-services,-which-include-banking-services-like-account-transactions-&-balance-inquiries,-and-other financial services like brokerage and stock market transactions."
"Mobile technology company, The MoBank Group has been confirmed as a vendor for Google’s “Get Mobile” or GetMo initiative. GetMo is a Google-led initiative dedicated to helping UK businesses ‘Get Mobile’ by providing them with the tools and resources they need to make their websites more mobile friendly. It aims to make the integration onto mCommerce easy for businesses by providing them with recommended technology and expertise. As part of this, MoBank, as a supplier in the mCommerce space is confirmed as a vendor for Google’s newly launched GetMo initiative in the UK."
NAB upgrades mobile banking app
"The Bank says this is more secure than using an Internet banking password. The new versions also now allow customers to set future-dated bill payments and funds transfers, without having to log-on via a PC. According to NAB's executive general manager of direct banking, Sam Plowman: 'Mobile banking is NAB's fastest growing channel, with 300 percent growth in the last year and one in three NAB Internet banking logins are now done on a mobile device.'"
SBI to allow mobile banking without a/c
"Mumbai: State Bank of India has started a pilot project that would allow banking through mobile phones even if the customers do not have a bank account. The scheme, called ‘Mobicash’, had been introduced in New Delhi and Mumbai. The service, much like a mobile prepaid cards, allows money to be “loaded” on customer’s mobile that he can then spend. “We have launched the product on a pilot basis and will introduce them in more cities in a few week,” said Praveen Kumar Singh, assistant general manager, New Business, SBI."
Eko’s Mobile Banking: Demonstrating the Power of a Basic Payments Product
"Eko was the first company dedicated to a mobile phone-based basic savings account and payment service for the unbanked in India. Launched in 2007, Eko has carefully developed a mobile-based service usable on the most basic of handsets and continually revised and re-fashioned its approach. At first, Eko experimented with a basic deposit and payment service from one Eko account to another."
Go slow on mobile wallet
"Airtel Money’s latest advertisement is hard to miss. For the first time, the virtues of mobile banking are being conveyed to customers. Banks such as HDFC Bank, ICICI Bank, SBI, Bank of India, Corporation Bank and Standard Chartered are offering this service. However, not many know the manner of transacting or the kind of transactions that can be done using mobile phones and the charges involved."
Mobile-Banking-in-Pakistan
"Globally,-Mobile-Banking,-or-mbanking,-has-emerged-as-a-commercially-viable-and-customer-friendly-alternate-distribution-channel-for-financial-services.-Generally,-mobile-banking-is-about-using-one's-mobile-handset-to-avail-financial-services,-which-include-banking-services-like-account-transactions-&-balance-inquiries,-and-other financial services like brokerage and stock market transactions."
Sunday, October 16, 2011
International Mobile Banking Updates - Oct 16
Future lies in mobile banking, says SBI
"Every banker dreams of being able to introduce an initiative that no one has done before, when he or she gets to the helm. What is your dream?
I am too much of a practical person, so I look at it from what can be done. But having said that, I feel we need to do something more in the space of mobile banking. We need to make it much more popular than it is right now because that is the banking of the future. Mobile banking might have failed to take off and this is not because of lack of systems and procedures. Those things are in place. It is just that the general public is not very convinced about mobile banking. Bankers have to play a major role in popularising this. Otherwise, the future of banking will bypass India. I think, going forward, mobile banking will be more preferred than internet banking."
Mobile Banking Services Launch Chart a New Era
"THE launch last week of mobile banking services by Econet Wireless Zimbabwe and Telecel Zimbabwe has charted a new era in delivery of banking products to the public, analysts have observed. Zimbabwe, which has for long lagged behind in terms of ICT development, seems to have turned a new corner, with new forms of banking anticipated to foster financial inclusion of the unbanked population."
FNB rises to dominant position in mobile banking for Southern Africa
"As local and international banks roll out technology to provide efficient and remote banking services in Africa, South Africa's First National Bank (FNB) has managed to dominate the Southern African region. Outside of South Africa itself, First National Bank (FNB) has expanded the eWallet mobile banking service to Botswana, Lesotho, Namibia, Swaziland and Zambia, with plans under way to expand the service to more countries in the region."
Mobile Banking Zooming In Australia: In 10 Years will it be Ubiquitous?
"Is it possible that within 10 years, mobile banking and mobile payments will be entirely ubiquitous? Careful with those “In 10 years...” predictions. This reporter has heard that in 10 years, America will be on the metric system, cars won’t run on gasoline and the Minnesota Vikings will win the Super Bowl. However, George Lawson, head of merchant acquiring for Westpac, believes that in 10 years mobile banking will have made quite a dent."
CUA to overhaul online, mobile banking
"Indian-based IT services company Tata Consultancy Services (TCS) has expanded its scope of work with CUA, taking out the contract for the new online banking system. TCS also won a contract with CUA this year to replace the credit union's home-grown core banking system with the BaNCS platform. CUA chief Chris Whitehead said that the selection of TCS for the online revamp made sense given its existing work on the core banking system."
Citigroup Inc. (NYSE:C) Makes Mobile Banking Deal
"Citigroup Inc. (NYSE:C) has entered into a joint venture with the telecommunications provider America Movil to provide Latin Americans with mobile banking services. The alliance named Transfer will involve an investment of $50 million, and will begin in Mexico by the first quarter of next year."
"Every banker dreams of being able to introduce an initiative that no one has done before, when he or she gets to the helm. What is your dream?
I am too much of a practical person, so I look at it from what can be done. But having said that, I feel we need to do something more in the space of mobile banking. We need to make it much more popular than it is right now because that is the banking of the future. Mobile banking might have failed to take off and this is not because of lack of systems and procedures. Those things are in place. It is just that the general public is not very convinced about mobile banking. Bankers have to play a major role in popularising this. Otherwise, the future of banking will bypass India. I think, going forward, mobile banking will be more preferred than internet banking."
Mobile Banking Services Launch Chart a New Era
"THE launch last week of mobile banking services by Econet Wireless Zimbabwe and Telecel Zimbabwe has charted a new era in delivery of banking products to the public, analysts have observed. Zimbabwe, which has for long lagged behind in terms of ICT development, seems to have turned a new corner, with new forms of banking anticipated to foster financial inclusion of the unbanked population."
FNB rises to dominant position in mobile banking for Southern Africa
"As local and international banks roll out technology to provide efficient and remote banking services in Africa, South Africa's First National Bank (FNB) has managed to dominate the Southern African region. Outside of South Africa itself, First National Bank (FNB) has expanded the eWallet mobile banking service to Botswana, Lesotho, Namibia, Swaziland and Zambia, with plans under way to expand the service to more countries in the region."
Mobile Banking Zooming In Australia: In 10 Years will it be Ubiquitous?
"Is it possible that within 10 years, mobile banking and mobile payments will be entirely ubiquitous? Careful with those “In 10 years...” predictions. This reporter has heard that in 10 years, America will be on the metric system, cars won’t run on gasoline and the Minnesota Vikings will win the Super Bowl. However, George Lawson, head of merchant acquiring for Westpac, believes that in 10 years mobile banking will have made quite a dent."
CUA to overhaul online, mobile banking
"Indian-based IT services company Tata Consultancy Services (TCS) has expanded its scope of work with CUA, taking out the contract for the new online banking system. TCS also won a contract with CUA this year to replace the credit union's home-grown core banking system with the BaNCS platform. CUA chief Chris Whitehead said that the selection of TCS for the online revamp made sense given its existing work on the core banking system."
Citigroup Inc. (NYSE:C) Makes Mobile Banking Deal
"Citigroup Inc. (NYSE:C) has entered into a joint venture with the telecommunications provider America Movil to provide Latin Americans with mobile banking services. The alliance named Transfer will involve an investment of $50 million, and will begin in Mexico by the first quarter of next year."
Subscribe to:
Comments (Atom)
