"The daily use of mobile banking in South Korea rose 1.8 percent in the third quarter from three months earlier on the back of the growing popularity of smartphones, the central bank said Wednesday.
Transactions by mobile banking or banking services accessed via wireless handsets were valued at 1.42 trillion won (US$1.32 billion) per day in the July-September period, compared with 1.39 trillion won three months earlier, according to the Bank of Korea (BOK)." Continue Reading
Showing posts with label Bank of Korea. Show all posts
Showing posts with label Bank of Korea. Show all posts
Thursday, November 21, 2013
Thursday, February 28, 2013
International Mobile Banking Updates - Feb 28
Benefits of bringing mobile banking to the unbanked
"There is no doubting the growth in popularity of mobile banking. According to Juniper Research, the market for mobile payments is expected to reach more than $600bn (£393bn) globally this year – double the figure of February 2011. And many development organisations are riding that telecom wave to reach people who don't have access to financial institutions."
Over 30 Million Sign Up for Mobile Banking
"The number of people using mobile banking services surpassed 30 million last year for the first time as smartphone use grew explosively. The Bank of Korea on Thursday said a total of 37.05 million people had signed up for mobile banking services as of the end of last year, an increase of 13.3 million people from the previous year. Two thirds of them were smartphone users."
Research and Markets: Mobile Money: Mobile Payments, Mobile Remittance, Mobile Banking & Mobile Commerce Market - Advanced Technologies, Value Chain, Worldwide Market Forecasts; Analysis (2013 - 2018)
"The growth in mobile telecommunication services and ubiquitous availability of mobile phones are creating unexplored business opportunities not only for the mobile operators, but to a range of other industry participants. Mobile phones are known to transfer information, where as Mobile money enables it to transfer cash from one entity to another, it acts as an alternate payment method to transfer cash/ credit/ check and make financial transactions with the mobile phone. The success of M-PESA, which was launched in 2007 in Kenya and other African regions, has made the operators to focus on this market."
Kenya’s M-Shwari crosses Ksh1 billion in mobile banking transactions a month
"Recent estimates put adoption for M-Pesa, Kenya’s wildly successul mobile payment service for the unbanked, at 17 million users. The service that allows users without bank accounts to complete simple financial transactions, received a boost through M-Shwari, a bolt-on service that allows M-Pesa users access to savings accounts and loans, in late 2012."
‘Mobile banking will see explosive growth in emerging markets’
"Mobile banking will be the front runner among various trends and technologies in the emerging markets banking landscape. Justice M.N. Venkatachaliah, former Chief Justice of India, expressed this view while delivering the Karnataka Bank Founders’ Day lecture here on Monday. Stating that the country has around 675 million active mobile telephone connections, he said mobile banking will witness explosive growth and change the entire banking scenario. Because of their reach, ease and capabilities, mobile devices have recorded penetration of more than 50 per cent in countries with per capita GDP as low as $500. A majority of mobile subscribers around the globe are located in emerging markets, he said."
"There is no doubting the growth in popularity of mobile banking. According to Juniper Research, the market for mobile payments is expected to reach more than $600bn (£393bn) globally this year – double the figure of February 2011. And many development organisations are riding that telecom wave to reach people who don't have access to financial institutions."
Over 30 Million Sign Up for Mobile Banking
"The number of people using mobile banking services surpassed 30 million last year for the first time as smartphone use grew explosively. The Bank of Korea on Thursday said a total of 37.05 million people had signed up for mobile banking services as of the end of last year, an increase of 13.3 million people from the previous year. Two thirds of them were smartphone users."
Research and Markets: Mobile Money: Mobile Payments, Mobile Remittance, Mobile Banking & Mobile Commerce Market - Advanced Technologies, Value Chain, Worldwide Market Forecasts; Analysis (2013 - 2018)
"The growth in mobile telecommunication services and ubiquitous availability of mobile phones are creating unexplored business opportunities not only for the mobile operators, but to a range of other industry participants. Mobile phones are known to transfer information, where as Mobile money enables it to transfer cash from one entity to another, it acts as an alternate payment method to transfer cash/ credit/ check and make financial transactions with the mobile phone. The success of M-PESA, which was launched in 2007 in Kenya and other African regions, has made the operators to focus on this market."
Kenya’s M-Shwari crosses Ksh1 billion in mobile banking transactions a month
"Recent estimates put adoption for M-Pesa, Kenya’s wildly successul mobile payment service for the unbanked, at 17 million users. The service that allows users without bank accounts to complete simple financial transactions, received a boost through M-Shwari, a bolt-on service that allows M-Pesa users access to savings accounts and loans, in late 2012."
‘Mobile banking will see explosive growth in emerging markets’
"Mobile banking will be the front runner among various trends and technologies in the emerging markets banking landscape. Justice M.N. Venkatachaliah, former Chief Justice of India, expressed this view while delivering the Karnataka Bank Founders’ Day lecture here on Monday. Stating that the country has around 675 million active mobile telephone connections, he said mobile banking will witness explosive growth and change the entire banking scenario. Because of their reach, ease and capabilities, mobile devices have recorded penetration of more than 50 per cent in countries with per capita GDP as low as $500. A majority of mobile subscribers around the globe are located in emerging markets, he said."
Sunday, March 21, 2010
Mobile Banking Updates - Mar 21
Smartphone Banking Gains Popularity
"Smartphone banking has been gaining popularity here, with local lenders churning out a number of new services based on the new gadgets loaded with various applications, which has changed the business culture in the banking industry.
Since Apple launched the iPhone service here in November, smartphone banking users are increasing dramatically, forcing lenders to develop new products to deal with such demand.
The Industrial Bank of Korea (IBK) is leading the trend. The state-run lender has been providing various services for iPhone customers, such as phone banking, foreign currency rates and event information since January. The lender plans to extend its services to other products, such as Omnia and Motoroi."
Government Officials Struggle to Set Rules for Mobile Wallet
"Government officials are struggling to rewrite Internet rules for the smartphone era, and every step forward seems to be a painful leap from a shot in the foot.
The Ministry of Public Administration and Security insists that all financial transactions on smartphones and other data-enabled mobile devices should be subject to the same security requirements that control online transactions by computers, a position backed by the Financial Supervisory Service (FSS).
However, the Korea Communications Commission (KCC), the country's converged regulator for broadcasting and telecommunications, is concerned over the approach when the existing Internet rules are blamed for Korean computer users stuck with outdated technology and security vulnerabilities."
Arkansas.gov Becomes the First State to Offer Mobile Payments for eGovernment Services
"Making government payments while on the go just got easier, thanks to a new mobile Web site for Arkansas.gov. With today’s launch of http://arkansas.gov/m, Arkansas is the first state to provide secure payment processing specifically for smartphone users.
'We are committed to using multiple delivery platforms to provide easy access to government services for all Arkansans'
The Arkansas.gov mobile Web site is part of the official Web site of the state of Arkansas. Starting today, the Arkansas.gov mobile site features secure payments for three high-volume online government services: inmate trust account deposits; probation and parole supervision and restitution payments; and Pulaski County property tax payments."
Syniverse Achieves New Mobile Messaging and Mobile Banking Records
"Moving an average of almost 1.3 billion messages per day in the fourth quarter of 2009, Syniverse Technologies (NYSE:SVR) says it continues to see significant growth of the company’s application-to-person (A2P) and peer-to-peer (P2P) message delivery across its network.
'Mobile messaging clearly is a force in today’s mobile ecosystem,' said Tony Holcombe, President and CEO, Syniverse. 'The rising number of messages that Syniverse delivers on a daily basis leaves little doubt that mobile subscribers are relying more on their mobile devices and associated messaging as a primary way to stay connected with friends, families, employees and customers.'”
"Smartphone banking has been gaining popularity here, with local lenders churning out a number of new services based on the new gadgets loaded with various applications, which has changed the business culture in the banking industry.
Since Apple launched the iPhone service here in November, smartphone banking users are increasing dramatically, forcing lenders to develop new products to deal with such demand.
The Industrial Bank of Korea (IBK) is leading the trend. The state-run lender has been providing various services for iPhone customers, such as phone banking, foreign currency rates and event information since January. The lender plans to extend its services to other products, such as Omnia and Motoroi."
Government Officials Struggle to Set Rules for Mobile Wallet
"Government officials are struggling to rewrite Internet rules for the smartphone era, and every step forward seems to be a painful leap from a shot in the foot.
The Ministry of Public Administration and Security insists that all financial transactions on smartphones and other data-enabled mobile devices should be subject to the same security requirements that control online transactions by computers, a position backed by the Financial Supervisory Service (FSS).
However, the Korea Communications Commission (KCC), the country's converged regulator for broadcasting and telecommunications, is concerned over the approach when the existing Internet rules are blamed for Korean computer users stuck with outdated technology and security vulnerabilities."
Arkansas.gov Becomes the First State to Offer Mobile Payments for eGovernment Services
"Making government payments while on the go just got easier, thanks to a new mobile Web site for Arkansas.gov. With today’s launch of http://arkansas.gov/m, Arkansas is the first state to provide secure payment processing specifically for smartphone users.
'We are committed to using multiple delivery platforms to provide easy access to government services for all Arkansans'
The Arkansas.gov mobile Web site is part of the official Web site of the state of Arkansas. Starting today, the Arkansas.gov mobile site features secure payments for three high-volume online government services: inmate trust account deposits; probation and parole supervision and restitution payments; and Pulaski County property tax payments."
Syniverse Achieves New Mobile Messaging and Mobile Banking Records
"Moving an average of almost 1.3 billion messages per day in the fourth quarter of 2009, Syniverse Technologies (NYSE:SVR) says it continues to see significant growth of the company’s application-to-person (A2P) and peer-to-peer (P2P) message delivery across its network.
'Mobile messaging clearly is a force in today’s mobile ecosystem,' said Tony Holcombe, President and CEO, Syniverse. 'The rising number of messages that Syniverse delivers on a daily basis leaves little doubt that mobile subscribers are relying more on their mobile devices and associated messaging as a primary way to stay connected with friends, families, employees and customers.'”
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