Mobile Payments - July 10

Will 2014 be the year that mobile payments succeed?
"2011...2012...2013… each have been touted as the year that mobile payments will reach a tipping point, yet it would seem that adoption is lagging behind the news hype, at least in the UK. While mobile banking is now mainstream and accepted (even demanded for by some consumers), we just don’t seem to have taken to mobile payments at the point of sale as quickly. But is all this is about to change?"

Will Consumers Cash in on Mobile Payments?
"Whether it’s checking the weather, getting directions or sharing photos, people use their smartphones for just about everything these days. However, there’s one function that has yet to capture widespread attention: mobile payments. Despite a relatively slow start, a Gartner report predicts a 44% global increase in mobile commerce by the end of 2013, totaling $235 billion in transactions. However, mobile consumer purchases will remain a distant third to bill payments and money transfers."

Mobile Banking Updates - Aug 2

Isis mobile pay service may start trials in August
"Isis, a joint venture among Verizon Wireless, ATT, and T-Mobile USA, will likely start trials of its mobile-payment service in August, according to a person familiar with the launch plans. The August target, however, isn't set in stone. CNET has gotten indications elsewhere that the timing may change. A representative for Isis only said the service would begin trials in Salt Lake City and Austin, Texas, this summer, pushed back from the prior forecast of a mid-year launch."

Great Potential in Mobile Services for Small Business Clients, FundTech Survey Says
"Bankers see SME (small and medium enterprise) clients as their biggest opportunity for growth, while regulations and compliance remain they're biggest concern, according to survey results released today by FundTech, a transaction banking solutions provider. The survey of 137 banking executives from more than 100 institutions was conducted at FundTech's annual North American Insights client conference in Arizona last month."

payvia Launches Bill-to-Carrier Mobile Payments Service
"payvia announced the launch of its next generation mobile payments platform and latest direct carrier billing agreements with Sprint and T-Mobile USA."

Visa: Mobile payments will hit mainstream in 2 to 3 years
"That vision of paying for goods and services with your phone anywhere you go? You shouldn't hold your breath. While there are trials and select deployments of payment terminals and cash registers that can accept mobile payments, the method won't hit the mainstream in the U.S. for another two to three years, according to Bill Gajda, head of mobile for Visa."

Braintree Wants to Make Mobile Payments History
"If you’ve ever searched Amazon (AMZN) using your i-Phone and decided you wanted to buy something, you’ll understand Braintree. And due to its unique technology, Braintree makes it easier for merchants to let you pay for those purchases quickly using your mobile."

Mobile Banking Updates - Mar 5

Chase, Capital One and Barclaycard First to Place Their Cards in the Isis(TM) Mobile Wallet
"Isis(TM), the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced that Chase, Capital One and Barclaycard have entered into agreements with Isis enabling their credit, debit and prepaid cards to be placed into the Isis Mobile Wallet. Starting in mid-2012, consumers will be able to load their eligible Chase, Capital One and Barclaycard cards into their Isis Mobile Wallet and shop at participating merchants, starting with locations across Salt Lake City and Austin, Texas."

Chase Selects Gemalto for Trusted Service Management
"Chase announced today that it has selected Gemalto (Euronext NL0000400653 GTO), a leader in digital security, to provide its Trusted Service Management (TSM) solution for Chase's enterprise-wide mobile payments platform. Gemalto's TSM will provision and manage the credit and debit card data of Chase customers, validating authenticity and supporting information delivery over the air. The Isis(TM) mobile wallet, developed through a joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, will be the first to benefit from this partnership.

3 Hot Banking Markets Beyond the Obvious
"When it comes to identifying potential geographic markets for growth and investment, banks and technology companies alike have been focusing on the prominent BRIC nations: Brazil, Russia, India and China. While these four dominant countries have populations, economies, infrastructures and cultures that are attractive to financial services organizations seeking new opportunities to grow beyond their local bases, it may be increasingly difficult for outside players to differentiate themselves as the competition accelerates."

Consumers lives becoming more digital, including financial management
"Consumers are increasingly gravitating toward online and mobile channels for daily financial management, and that tablet banking services will be increasingly in demand, according to the Fiserv Consumer Trends survey. The survey was completed by 3,000 individuals representative of the U.S. online population of households in August 2011."

Bank of the James to launch mobile banking options
"Bank of the James is launching applications for smartphones starting Monday that allow customers to check balances, pay bills and transfer funds from anywhere. The bank launched social media accounts on Facebook, Twitter and Google+ on Thursday. It also will have a YouTube channel. In addition to mobile applications and a new website for viewing on mobile phones, the company will start a service where users can send a text message for functions like checking an account balance."

Mobile Banking Updates - Sept 25

Mobile's Soft Launch
"Most banks have gotten the message: having a strategy to build out mobile banking is a necessity. But while a substantial percentage of banks are plotting moves into downloadable apps and other services available on smartphones, they're still not vigorously pushing the channel."

comScore: “Mobile Banking Up 21% Since March 2011″
"Research firm comScore came out with some Canadian mobile stats a couple months back, all based on March 2011 numbers. At the time they stated that “12.3 percent of Canadian mobile subscribers accessed banking. During the CWTA Wireless Showcase comScore presented some updated numbers and the trend continued – mobile usage is increasing. You can see some of the previous stats we posted here, mainly about OS market share and how Apple, RIM, HTC and Samsung are all battling it out."

Smaller banks join mobile banking trend
"Banks like Bank of America and JPMorgan Chase led the charge into mobile banking, but now a growing number of smaller financial institutions are following suit. Mobile banking can enable consumers to do things like check account balances, transfer funds or even make deposits through text messages, mobile applications on smartphones or tablet computers, or on websites designed specifically for mobile use."

Mobile Banking the Latest High-Touch Benefit Available to Members of TopLine
"TopLine Federal Credit Union has announced that state-of-the-art mobile banking is the latest high-touch, high tech benefit now available for members who use web-enabled phones/devices. It's easy and even fun to use and appears to be an immediate hit with members. Just launched on August 23rd the rate of use is much higher than TopLine anticipated and already higher than the national average."

Isis Finds Tech, Seeks Banks
"Isis and Google are both vigorously bulking up on innovation to turn leather consumer wallets into digital ones, but they have their work cut out for them. As in a lot of new and alternative financial services ventures, integration with traditional banks will be the most elusive, and most necessary, step to success."

Pay-by-Phone Dialed Back (Wall Street Journal)

"The biggest U.S. wireless carriers are scaling back a joint venture for mobile payments that they originally hoped would compete with Visa Inc. and MasterCard Inc., reaffirming the traditional credit card companies' clout in the nascent market for mobile transactions.

The venture known as Isis, formed by AT&T Inc., Verizon Wireless and T-Mobile USA, initially aspired to set up its own payments network and collect fees on every transaction. Customers would maintain accounts directly with their wireless carrier, rather than with a credit card company." >> Read More