International Mobile Banking Updates - Sept 4

Mozido Eyes Caribbean Mobile-Money Roll-Out
"With at least one tangible project in the works in Jamaica, Kavin Hewitt, CEO of Mozido Jamaica Limited, says the company will use expertise developed over the last three years to execute a Caribbean roll-out of mobile banking services and other products. The company is the technology partner to Jamaica Cooperative Credit Union League on JCUES, the first private mobile-money product to be approved by the central bank."

YellowPepper secures $15M in funding, now based in Miami
"A Latin American tech company is planting itself in South Florida — and has a fresh round of funding to grow on. YellowPepper, which provides mobile-banking and payment solutions in the region and recently moved to Miami, announced it has received $15 million in venture funding. The Series C fund-raising round, which brings the total venture funding to $30 million, was led by Latin Idea Ventures, and included IFC/World Bank and other investors. Serge Elkiner, YellowPepper’s CEO and co-founder, said the funding will be used to sharpen its new focus on the mobile payments industry and initially launch into four key markets: Colombia, Mexico, Ecuador and Peru."

Bank of Scotland boss targets brand 'magic'
"Robin Bulloch, appointed to the role in January this year and with more than three decades of banking experience, says he wants to reclaim the "magic" the brand has had in the past and separate it from the HBOS legacy in the minds of the public. He indicated Bank of Scotland is keen to present a modern front and use technology to help customers but recognises many of its patrons still prefer to use one of its 294 branches."

UAB launches mobile banking app
"United Arab Bank (UAB), a key lender based in Sharjah, said it has introduced a free mobile banking app allowing its customers to have secure and easy access to manage their accounts whilst on the move. Established in 1975 as a joint venture between UAE investors and Societe Generale, UAB presently has a network of 20 branches and offices spread across the UAE."

Indian banks to increase IT spend by 13%
"Indian banks and investment firms will spend 13% more on IT in 2013 compared to last year with IT services the largest segment, according to research from Gartner. Indian banking and securities companies will spend about 417bn INR on IT in 2013 compared to 369bn INR in 2012. The IT services spend will account for 131bn INR. This represents an 18% increase driven by a strong focus on the finance sector from IT service providers."

Mobile Money Can Be Used In Regular Transactions – Analyst
"Speaking on Channels Television Business Morning, Mr. Okoli explained that mobile money is different from mobile banking. He mentioned that mobile banking, money is still in the bank account but the use of mobile phone is needed while mobile money the money is in an E-account which is tied to the phone. He mentioned the benefits of mobile money stating that it can be used in regular transaction, transferring of money just like the regular transactions."

Mobile Banking Updates - MWC

At Mobile World Congress, mobile banking takes center stage: Portfolios of the Poor meets the five firms who reach two billion customers
"Today, the CGAP Technology Blog comes to you from the Mobile World Congress in Barcelona. The MWC is the world’s biggest business show for all things mobile related. In recent years we’ve noticed how the focus on mobile banking has slowly grown on the agenda – both in the conference itself, as well as for the mobile network operators who comprise the membership of the GSMA.

Just two years ago, mobile money was relegated to a side session of a few hours. This week, there’s two full days of mobile money content – starting with Monday’s panel of the so-called “two billion club” – the handful of mobile operators who combined reach one third of humanity with their cell coverage."

Mobile Contactless Payments at Mobile World Congress 2010
"The GSMA, Samsung Electronics Co. Ltd., Telefónica, and Visa, together with Giesecke & Devrient, Ingenico, ITN International and La Caixa, have announced 'the arrival of contactless mobile payments at Mobile World Congress in Barcelona this year. The companies unveiled the result of months of collaboration and have brought the first ever SIM-based NFC payments pilot to Mobile World Congress.'"

YellowPepper and Fundamo Partner to Bring Greater Access to Mobile Money Services in Latin America
"YellowPepper, a leading provider of mobile financial services in Latin America, today announced the launch of YellowPepper Mony, a comprehensive mobile financial product for the unbanked. This product was created as part of a strategic alliance with Fundamo, the world's largest specialized mobile banking and payment software solution provider. YellowPepper Mony enables financial institutions and corporate clients to deliver secure, convenient and easily accessible financial services to consumers, such as mobile money transfers, international remittances, mobile bill payments and pre-paid cell phone service."

Visa, DeviceFidelity Partner for microSD-based Mobile Payments
"Visa and DeviceFidelity have announced plans to market a solution that can enable a mobile phone with a memory card slot to be used as a Visa mobile payment device. According to the companies, 'the solution combines Visa’s contactless payment technology, Visa payWave, and DeviceFidelity’s In2PayTM technology to transform a mobile phone with a microSD memory slot into a mobile contactless payment device. This can enable consumers to make mobile Visa payWave transactions at any retail location that accepts contactless payments. Trials are scheduled to begin in the second quarter of 2010.'"

Neustar Announces Mobile Barcode Interoperability
"Today at the GSMA's Mobile World Congress, Neustar, a provider of innovative solutions and directory services enabling trusted communications across networks, applications, and enterprises around the world, announced the debut of its Mobile Barcode Clearinghouse Services. The services will help expand the reach and targeting capabilities of advertisers and enterprises using 2D Barcodes, drive adoption among consumers, and enable interoperability among mobile operators, ad agencies, and application providers."

NFC: Past, Present and Future
"What a difference a couple of years make! During CES in 2008, visitors were treated to a variety of demonstrations at the "NFC Zone" where they could experience the power of simplicity NFC style. Yet, at last's month edition of the consumer technology pilgrimage, NFC seemed to stand for "Not Found at this Conference." What happened? Is it just the financial crisis, something more profound or the natural growing pains associated with a disruptive technology?"