HSBC customers hit by online banking outage
"Customers of HSBC were unable to access online banking for a period of time this morning due to an IT-related failure. Customers vented their frustrations on Twitter on Friday, complaining that they are unable to access their online and mobile banking accounts. Laura Harper (@LauraJHarper24) tweeted: '@HSBC_UK_Help please can you sort out your online business banking. Going very slow this morning & I have people waiting to be paid!'"
Bank? What bank? Orange, Visa and the changing face of Africa's mobile money
"In a bid to expand its reach into Africa — in many ways the unexplored continent for financial services — US-based Visa has cut a deal with mobile giant Orange, bypassing the formal banking sector and taking advantage of a very African innovation.
As of last month, subscribers to Orange's mobile money system, Orange Money, in Botswana have been able to link their mobile money accounts to the Visa network, opening up access to Visa's services even to those with no bank accounts at all."
Kiwibank Business wins top award with a 'stand-out' entry; planning SME mobile banking app for October launch
"Kiwibank has taken out the Supreme Award at the 2013 AUT Business School Excellence in Business Support Awards held last night in Auckland. It beat 41 finalists in the only national performance measure available to the business support sector. Winners were announced in 11 categories, with the Supreme winner chosen from amongst them."
Cosmos Bank launches mobile banking
"In yet another achievement, the fastest growing Urban Co-op Bank Cosmos launched mobile banking service for its customers on last Saturday at the hands of Shrinivas Patil, Governor of Sikkim. The Chairman, Krishnakumar Goyal, Vice-Chairman, Milind Kale, Managing Director, Vikrant Ponkshe, Jt. Managing Director, Suhas Gokhale, Directors of the Board, Members and Customers of the Bank were present for this function.
In his inaugural speech, Governor Patil invited Cosmos Bank to open its branches in Sikkim. He also proposed that the bank should spread the web of its branches in North and North-East India too. Governor Patil alsohoped Cosmos Bank will reach the topmost position amongst the co-operative banks."
Kapital Bank launches a mobile banking application built on TranzWare Mobile Banking for Apple iOS smartphones
"WiKapital Bankth help from Compass Plus, Kapital Bank (Azerbaijan) has finished building their own mobile banking application for iOS, and successfully published it on the Apple App Store. The new application is built on TranzWare Mobile Banking and enhances the previously developed applications on the same platform for Android and Java.
The application will increase the number of people using the mobile banking system, which can now be fully operated on all Apple mobile devices. This will result in improving the quality of provided services and expanding the remote banking capabilities for Kapital Bank’s customers."
Is Mobile Banking Safe And Cyber Secure In India?
"Mobile banking in India is moving towards an acceptance level. However, till now very few people and institutions are comfortable in using mobile banking in India. Mobile banking in India is still not popular according to RBI. There are certain shortcomings of mobile banking in India that are still left unaddressed.
For instance, mobile governance in India is still not well established. M-governance in India is essential before mobile banking can be successfully implemented in India. We have no regulatory framework for m-governance in India."
Electronic, mobile fuels FNB growth
"FirstRand has reported its financial results for the year ended June 2013, noting 20% growth in normalised earnings to R15.3 billion, up from R12.7 billion in 2012.
FirstRand’s main retail and commercial division, FNB, contributed the largest portion to the group’s earnings, reporting a 22% rise in normalised earnings to R8.16 billion, up from R6.67 billion in 2012. FirstRand’s other divisions – Rand Merchant Bank and WesBank – reported a 21% and 10% jump in earnings, respectively."
Top Image Systems Recognized as a "Sample Vendor" in Gartner Hype Cycle for Digital Banking 2013
"Top Image Systems Ltd. TISA, a leading ECM (Enterprise Content Management) and BPM (Business Process Management) and mobile image processing solutions provider,announces that the Company was included as a sample vendor in the Mobile Commercial Remote Deposit Capture and Mobile Consumer Remote deposit categories listed in the "Hype Cycle for Digital Banking, 2013" by Alistair Newton published on July 31, 2013 by Gartner, Inc.. Top Image Systems develops and markets a broad portfolio of mobile content processing solutions, including MobiCHECK for mobile remote deposit capture, MobiPAY for bill payment via mobile devices and the MobiFLOW platform for capture, recognition and processing of structured and unstructured data in files of virtually any size and format. Top Image Systems' mobile content processing solutions are fully integrated with its industry-leading eFLOW(R) multichannel intelligent content capture, workflow and delivery platform."
Retailers to accept 'mobile' payments next year
"Shoppers will next year be able to use their mobile phone to pay in just 12 seconds at stores such as WH Smith, Lidl, Superdrug and McDonald's, The Telegraph can disclose. A major deal has been struck to allow thousands of retailers across Britain to support Zapp, a new mobile phone payment app backed by Britain’s biggest banks."
Banking on the move
"Mobile banking is a bridge that can connect unbanked and underbanked segments to a plethora of financial services. Research indicates that half the world is underbanked and uses informal channels to access financial services, whether it be saving or borrowing money or sending money home. In addition, a lack of formal tools and services drives the underbanked to carry and use physical cash to conduct all financial transactions.
Contrary to conventional wisdom, ‘unbanked’ does not necessarily mean that they lack financial access. This is especially true for the population at the bottom of the pyramid, who at times prefer to use informal channels despite having access to formal services."
Why mobile banking is more on paper and less on mobile
"'There is substantial potential for mobile based payments,' said Raghuram Rajan in his first speech after taking over as the Governor of the Reserve Bank of India. True, there’s surely potential for mobile-based payments in India. But the question is how long will it take for us to fully use that potential?
'There are a large number of registrations, but if you see the number of transactions are not corresponding to the number of registrations. It’s mostly the urban immigrant workers who use mobile payments/banking most,' a head of transaction banking with a PSU bank told Firstpost on the condition of anonymity."
Showing posts with label Visa. Show all posts
Showing posts with label Visa. Show all posts
Wednesday, September 18, 2013
Sunday, July 28, 2013
Mobile Payments and Wallet - July 28
Visa, Movida, ICICI Bank expand mobile banking services to make India cashless
"Visa Inc. and Monitise’s joint venture, Movida, has partnered with India’s largest bank ICICI Bank to expand its mobile payments service. The mobile payments company launched last December after partnering with India’s second largest bank, HDFC. With the addition of ICICI, Movida will be able to reach more Indian consumers."
The Future of Mobile Payments and Banking
"The role of traditional banks continues to change, and more rapidly than before. Where we once would have had to queue up in a bank on the high street to pay utility bills or withdraw cash to make payments, we can now complete almost all of our transactions online without ever needing to set foot in a branch. So the role of the bank as a venue or outlet has already changed and continues to evolve to ensure it remains a relevant customer channel."
ProfitStars Introduces iPay OneClick Consumer Online Bill Pay and Andiamo, a Fast, Cost Effective Way to Deploy Mobile Services Without Core Integration
"Jack Henry & Associates Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today introduced iPay OneClickTM and AndiamoTM from iPay Solutions™."
Illinois bank will allow Diebold ATM withdrawals via mobile wallet
"An Illinois bank has rolled out a service that will enable customers to use their cellphones to withdraw cash from Diebold ATMs. Mobile Cash Access, from Wintrust Financial Corporation, will use the Paydiant and FIS mobile wallet solution."
"Visa Inc. and Monitise’s joint venture, Movida, has partnered with India’s largest bank ICICI Bank to expand its mobile payments service. The mobile payments company launched last December after partnering with India’s second largest bank, HDFC. With the addition of ICICI, Movida will be able to reach more Indian consumers."
The Future of Mobile Payments and Banking
"The role of traditional banks continues to change, and more rapidly than before. Where we once would have had to queue up in a bank on the high street to pay utility bills or withdraw cash to make payments, we can now complete almost all of our transactions online without ever needing to set foot in a branch. So the role of the bank as a venue or outlet has already changed and continues to evolve to ensure it remains a relevant customer channel."
ProfitStars Introduces iPay OneClick Consumer Online Bill Pay and Andiamo, a Fast, Cost Effective Way to Deploy Mobile Services Without Core Integration
"Jack Henry & Associates Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today introduced iPay OneClickTM and AndiamoTM from iPay Solutions™."
Illinois bank will allow Diebold ATM withdrawals via mobile wallet
"An Illinois bank has rolled out a service that will enable customers to use their cellphones to withdraw cash from Diebold ATMs. Mobile Cash Access, from Wintrust Financial Corporation, will use the Paydiant and FIS mobile wallet solution."
Tuesday, June 4, 2013
International Mobile Banking Updates - June 4
Visa likely to launch mobile financial services next year
"Visa Inc, a global payments technology provider, is expected to launch its own mobile financial services (MFS) platform in Pakistan next year, according to Kamil Khan, Visa’s Country Manager for Pakistan and Afghanistan. The players already operating in the mobile banking segment will be attached to Visa card, Khan told a group of journalists at a lunch at Sheraton Hotel on Wednesday."
RBI asks banks to expand internet, mobile banking reach
"The Reserve Bank of India (RBI) has asked commercial banks to expand the reach of internet and mobile banking services. 'We are going through an era of technological revolution,' said RBI Deputy Governor H R Khan at a workshop on e-Banking organised by Bank of India here on Thursday. 'And mobile and internet penetration is on the rise in the country. Therefore, banks need to formulate strategies to popularize mobile and internet based banking services.' Khan asked banks to also focus on elderly and pensioners besides urban clientele."
Ethiopia to sign mobile network deals with ZTE, Huawei
"Ethiopia will sign agreements with China's ZTE Corp and Huawei Technologies Co Ltd in a "few weeks" to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday. ZTE Corp, China's second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years."
Third world leads first in mobile banking
"Australia may be inching its way towards mobile money via phones and smart cards, but the world leader in this new technology is, of all places, Kenya. According to The Economist magazine, two thirds of the adult population - more than 17 million Kenyans - siphon 1.1 trillion shillings ($A13 billion) - more than a quarter of the East African country's gross domestic product - through what is the world's leading mobile money network."
Self-service banking can kill intimacy with customers: ANZ
"With in-branch banking on a decline, many financial institutions are focusing on their mobile and self-service strategies. But neglecting face-to-face banking reduces these companies' chances of building meaningful relationships with customers, according to ANZ CTO, Patrick Maes. In the US, banks have been on a drive to cut down the number of retail branches as a way to cut costs and respond to the growing mobile banking trend. Australian banks have also been on the same path in recent years, albeit at a slower pace."
VN set to embrace mobile banking
"Tam, who is also CEO of IDG Global Solutions Vietnam and MRD Joint-stock Company, told the Vietnam Financial Times that Internet banking services will rank second behind mobile banking, while transactions using Automatic Teller Machines (ATMs) will reduce significantly in the coming years. Wikipedia describes mobile banking as a system that allows customers of financial institutions to conduct a number of transactions through devices like mobile phones or personal digital assistants."
Mashreq increases focus on mobile banking with the launch of Mashreq Max
"Mashreq has launched a new service, called Mashreq Max, which equips salary transfer account holders with a dedicated Samsung tablet filled with dedicated apps that give users access to banking features previously available only at the bank’s branches. It is available to any UAE residents with salaries of at least AED 15,000 per month."
Opinion: Why banking must change its game
"You have 15 minutes to kill. Time to bank. After logging in on your smartphone, you check that your pay has come in, you settle your credit card dues, pay your rent by bank cheque and move money into your savings account. Before you reach home on your way back from work, there is just enough time to locate the nearest cash point and check for discount offers at your favourite lunch spot. This is a far cry from banking of old, and this is only the beginning of what the internet and mobile technology can offer. As device sophistication and network speed increase, so will consumers’ expectations of usability and service. Next generation customers want banking that fits into their lives, not the other way around."
LajanCash: Haiti National Credit Bank incorporates mobile banking
"The National Credit Bank (BNC) launched on Friday, May 24, 2013, at the Royal Oasis, a new product in the banking market, the electronic wallet, "LajanCash." This product will allow any user of a mobile phone to easily and safely make online purchases, receive wages, transfer money, make deposits and withdrawals through ATM machines in the BNC."
Commonwealth Bank of Australia : Introducing new mobile banking innovations in Australia’s most popular digital wallet - CommBank Kaching
"Commonwealth Bank today unveiled two new mobile banking innovations to its two million mobile customers with the introduction of a BPAY QR code reader and card PIN and activation functionality - now available on CommBank Kaching for iPhone. The ability to set and change a card PIN through a mobile banking app marks the first of any of the major Australian banks."
Emirates NBD wins 'eBanking 2013 Excellence Award' for best mobile banking application
"Emirates NBD , a leading bank in the region, announced today that it has won the "eBanking 2013 Excellence Award" at the 18th Middle East e-Government and e-Services Excellence Awards for demonstrating the best mobile applications in the market that helped drive better efficiencies in technology, marketing and entertainment. The award was received by Ahmed Al Marzouqi, General Manager - Retail Distribution, Emirates NBD , at the award ceremony that took place recently at Ritz Carlton, DIFC."
Rapid growth in internet banking usage expected in UAE
"While use of internet banking is relatively low in the region, HSBC sees a rising trend in adoption of technology in the UAE which is expected to grow further, Francesca McDonagh, Regional Head of Retail Banking and Wealth Management, Mena, HSBC, told Gulf News in an interview."
SCB unveils digital banking vision in Pakistan
"Standard Chartered Bank (SCB) announced its digital banking vision aimed at enhancing the customer banking experience in Pakistan. This is part of the Bank’s global focus on ‘Digitisation’-socialising personal banking and extending customers’ digital lifestyle into banking. Bank launched ‘Breeze’, its award-winning Mobile Banking application, making Pakistan the second market in the MEPA region where this application is available."
Brazil to foster mobile banking thanks to central bank's increased powers
"The Brazilian central bank's recent announcement that it will become the official regulator of the country's payment industry also sets the basis for the legal framework for mobile banking in the country, which will benefit banks and telephone operators as it facilitates and expands payment alternatives. The provisional measure introduces the concept of 'payment institution,' a new legal entity that will be recognized as a participant in the Brazilian payment system."
M-banking on USSD likely to get delayed as operators spar
"Full-scale mobile banking services over the Unstructured Supplementary Service Data (USSD) platform, a text message-based interactive backbone could hit a roadblock with both GSM and CDMA operators at loggerheads with the National Payments Corporation of India (NPCI) on the revenue-sharing model."
"Visa Inc, a global payments technology provider, is expected to launch its own mobile financial services (MFS) platform in Pakistan next year, according to Kamil Khan, Visa’s Country Manager for Pakistan and Afghanistan. The players already operating in the mobile banking segment will be attached to Visa card, Khan told a group of journalists at a lunch at Sheraton Hotel on Wednesday."
RBI asks banks to expand internet, mobile banking reach
"The Reserve Bank of India (RBI) has asked commercial banks to expand the reach of internet and mobile banking services. 'We are going through an era of technological revolution,' said RBI Deputy Governor H R Khan at a workshop on e-Banking organised by Bank of India here on Thursday. 'And mobile and internet penetration is on the rise in the country. Therefore, banks need to formulate strategies to popularize mobile and internet based banking services.' Khan asked banks to also focus on elderly and pensioners besides urban clientele."
Ethiopia to sign mobile network deals with ZTE, Huawei
"Ethiopia will sign agreements with China's ZTE Corp and Huawei Technologies Co Ltd in a "few weeks" to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday. ZTE Corp, China's second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years."
Third world leads first in mobile banking
"Australia may be inching its way towards mobile money via phones and smart cards, but the world leader in this new technology is, of all places, Kenya. According to The Economist magazine, two thirds of the adult population - more than 17 million Kenyans - siphon 1.1 trillion shillings ($A13 billion) - more than a quarter of the East African country's gross domestic product - through what is the world's leading mobile money network."
Self-service banking can kill intimacy with customers: ANZ
"With in-branch banking on a decline, many financial institutions are focusing on their mobile and self-service strategies. But neglecting face-to-face banking reduces these companies' chances of building meaningful relationships with customers, according to ANZ CTO, Patrick Maes. In the US, banks have been on a drive to cut down the number of retail branches as a way to cut costs and respond to the growing mobile banking trend. Australian banks have also been on the same path in recent years, albeit at a slower pace."
VN set to embrace mobile banking
"Tam, who is also CEO of IDG Global Solutions Vietnam and MRD Joint-stock Company, told the Vietnam Financial Times that Internet banking services will rank second behind mobile banking, while transactions using Automatic Teller Machines (ATMs) will reduce significantly in the coming years. Wikipedia describes mobile banking as a system that allows customers of financial institutions to conduct a number of transactions through devices like mobile phones or personal digital assistants."
Mashreq increases focus on mobile banking with the launch of Mashreq Max
"Mashreq has launched a new service, called Mashreq Max, which equips salary transfer account holders with a dedicated Samsung tablet filled with dedicated apps that give users access to banking features previously available only at the bank’s branches. It is available to any UAE residents with salaries of at least AED 15,000 per month."
Opinion: Why banking must change its game
"You have 15 minutes to kill. Time to bank. After logging in on your smartphone, you check that your pay has come in, you settle your credit card dues, pay your rent by bank cheque and move money into your savings account. Before you reach home on your way back from work, there is just enough time to locate the nearest cash point and check for discount offers at your favourite lunch spot. This is a far cry from banking of old, and this is only the beginning of what the internet and mobile technology can offer. As device sophistication and network speed increase, so will consumers’ expectations of usability and service. Next generation customers want banking that fits into their lives, not the other way around."
LajanCash: Haiti National Credit Bank incorporates mobile banking
"The National Credit Bank (BNC) launched on Friday, May 24, 2013, at the Royal Oasis, a new product in the banking market, the electronic wallet, "LajanCash." This product will allow any user of a mobile phone to easily and safely make online purchases, receive wages, transfer money, make deposits and withdrawals through ATM machines in the BNC."
Commonwealth Bank of Australia : Introducing new mobile banking innovations in Australia’s most popular digital wallet - CommBank Kaching
"Commonwealth Bank today unveiled two new mobile banking innovations to its two million mobile customers with the introduction of a BPAY QR code reader and card PIN and activation functionality - now available on CommBank Kaching for iPhone. The ability to set and change a card PIN through a mobile banking app marks the first of any of the major Australian banks."
Emirates NBD wins 'eBanking 2013 Excellence Award' for best mobile banking application
"Emirates NBD , a leading bank in the region, announced today that it has won the "eBanking 2013 Excellence Award" at the 18th Middle East e-Government and e-Services Excellence Awards for demonstrating the best mobile applications in the market that helped drive better efficiencies in technology, marketing and entertainment. The award was received by Ahmed Al Marzouqi, General Manager - Retail Distribution, Emirates NBD , at the award ceremony that took place recently at Ritz Carlton, DIFC."
Rapid growth in internet banking usage expected in UAE
"While use of internet banking is relatively low in the region, HSBC sees a rising trend in adoption of technology in the UAE which is expected to grow further, Francesca McDonagh, Regional Head of Retail Banking and Wealth Management, Mena, HSBC, told Gulf News in an interview."
SCB unveils digital banking vision in Pakistan
"Standard Chartered Bank (SCB) announced its digital banking vision aimed at enhancing the customer banking experience in Pakistan. This is part of the Bank’s global focus on ‘Digitisation’-socialising personal banking and extending customers’ digital lifestyle into banking. Bank launched ‘Breeze’, its award-winning Mobile Banking application, making Pakistan the second market in the MEPA region where this application is available."
Brazil to foster mobile banking thanks to central bank's increased powers
"The Brazilian central bank's recent announcement that it will become the official regulator of the country's payment industry also sets the basis for the legal framework for mobile banking in the country, which will benefit banks and telephone operators as it facilitates and expands payment alternatives. The provisional measure introduces the concept of 'payment institution,' a new legal entity that will be recognized as a participant in the Brazilian payment system."
M-banking on USSD likely to get delayed as operators spar
"Full-scale mobile banking services over the Unstructured Supplementary Service Data (USSD) platform, a text message-based interactive backbone could hit a roadblock with both GSM and CDMA operators at loggerheads with the National Payments Corporation of India (NPCI) on the revenue-sharing model."
Tuesday, April 23, 2013
International Mobile Banking Updates - April 23
Mobile malware and your money
"You might have anti-virus software on your computer, but have you considered protecting your smartphone or device? According to the international software house for antivirus security solutions, G Data Software AG, on average 6 915 new malware strains were created every day in the second half of 2012. The report states the number of new malware strains in the tools category, which includes online banking tools, has increased enormously in 2012."
bKash Offers Mobile Banking for Bangladesh
"bKash's CEO Kamal Quadir made the case for the e-commerce company at D: Dive Into Mobile, during the last of three "Global Voices" sessions."
ICICI Bank & Vodafone launch new mobile application
"India’s largest private sector lender ICICI Bank on Wednesday launched a mobile banking application christened as 'M-Pesa' in association with Vodafone India, one of the leading telecommunication service providers. 'This launch is line with the bank's objective of achieving greater financial inclusion,' said Rajiv Sabharwal, Executive Director - ICICI Bank."
Mobile financial services: Visa to launch innovative product in expanding market
"Bullish about the mobile banking scene in Pakistan, Visa Inc – a global payments technology company – is soon going to launch its own mobile financial services (MFS) platform in Pakistan, The Express Tribune has learnt. The product will use VisaNet technology and function on ‘interoperability’ model – a first in Pakistan’s mobile banking market. VisaNet is the world’s largest retail electronic payments processing network, handling an average of 150 million transactions every day, according to the company’s website."
South Africa’s mobile money industry remains innovative and diverse
"Mobile Money Africa returns to Johannesburg in May. South Africa remains one of the most diverse regions in Africa for its proliferation of successful mobile money business models being championed by banks, MNOs (mobile network operators), third party providers and retailers. This is according to Emma Pearce, director of the upcoming, annual Mobile Money Africa conference and exhibition, which will again gather the continent’s leading industry experts in Johannesburg from 28-29 May."
INSIGHT: How tech has transformed banking services in East Africa
"In the past, for a customer to transact any business with their bank, they had to make a trip to a banking hall. Not so these days. Customers can carry out business with their bank using mobile phones or via the Internet. Technology has dramatically transformed banking beyond the traditional brick-and-mortar concept. Many Kenyan banks are now offering Internet and mobile banking services. In fact, local banks have been at the forefront (even by global standards) of adopting technology to drive business volumes and enhance customer service."
Are banking apps up to it?
"Do banking apps deliver a full banking experience? LIRON SEGEV rates and ranks the functionality of the big four South African banks as they go mobile. Mobile banking apps in South Africa have seen phenomenal uptake by customers. But are they all things to all bankers? And which financial institution has the best features on its app? I set out to find out by comparing the features of the various banking apps."
Credit union's Deposit Anywhere™: A Canadian first
"A first in the Canadian financial services market, Central 1 Credit Union and three Canadian credit unions - including Meridian, Ontario's largest credit union - are launching Deposit Anywhere™, a new mobile banking application that makes it easy to deposit a cheque using a smartphone."
"You might have anti-virus software on your computer, but have you considered protecting your smartphone or device? According to the international software house for antivirus security solutions, G Data Software AG, on average 6 915 new malware strains were created every day in the second half of 2012. The report states the number of new malware strains in the tools category, which includes online banking tools, has increased enormously in 2012."
bKash Offers Mobile Banking for Bangladesh
"bKash's CEO Kamal Quadir made the case for the e-commerce company at D: Dive Into Mobile, during the last of three "Global Voices" sessions."
ICICI Bank & Vodafone launch new mobile application
"India’s largest private sector lender ICICI Bank on Wednesday launched a mobile banking application christened as 'M-Pesa' in association with Vodafone India, one of the leading telecommunication service providers. 'This launch is line with the bank's objective of achieving greater financial inclusion,' said Rajiv Sabharwal, Executive Director - ICICI Bank."
Mobile financial services: Visa to launch innovative product in expanding market
"Bullish about the mobile banking scene in Pakistan, Visa Inc – a global payments technology company – is soon going to launch its own mobile financial services (MFS) platform in Pakistan, The Express Tribune has learnt. The product will use VisaNet technology and function on ‘interoperability’ model – a first in Pakistan’s mobile banking market. VisaNet is the world’s largest retail electronic payments processing network, handling an average of 150 million transactions every day, according to the company’s website."
South Africa’s mobile money industry remains innovative and diverse
"Mobile Money Africa returns to Johannesburg in May. South Africa remains one of the most diverse regions in Africa for its proliferation of successful mobile money business models being championed by banks, MNOs (mobile network operators), third party providers and retailers. This is according to Emma Pearce, director of the upcoming, annual Mobile Money Africa conference and exhibition, which will again gather the continent’s leading industry experts in Johannesburg from 28-29 May."
INSIGHT: How tech has transformed banking services in East Africa
"In the past, for a customer to transact any business with their bank, they had to make a trip to a banking hall. Not so these days. Customers can carry out business with their bank using mobile phones or via the Internet. Technology has dramatically transformed banking beyond the traditional brick-and-mortar concept. Many Kenyan banks are now offering Internet and mobile banking services. In fact, local banks have been at the forefront (even by global standards) of adopting technology to drive business volumes and enhance customer service."
Are banking apps up to it?
"Do banking apps deliver a full banking experience? LIRON SEGEV rates and ranks the functionality of the big four South African banks as they go mobile. Mobile banking apps in South Africa have seen phenomenal uptake by customers. But are they all things to all bankers? And which financial institution has the best features on its app? I set out to find out by comparing the features of the various banking apps."
Credit union's Deposit Anywhere™: A Canadian first
"A first in the Canadian financial services market, Central 1 Credit Union and three Canadian credit unions - including Meridian, Ontario's largest credit union - are launching Deposit Anywhere™, a new mobile banking application that makes it easy to deposit a cheque using a smartphone."
Wednesday, March 20, 2013
International Mobile Banking Updates - Mar 20
Commercialbank names winners of online, mobile banking campaign
"Some eight lucky Commercialbank customers have been named as the winners of the bank’s recent online and mobile banking campaign. The eight week promotion, which was open to all new and existing customers registered for Commercialbank’s online banking and mobile services, highlighted the 'flexibility, security and range of banking services' that the bank’s customers have access to from their mobile phone or computers. Commercialbank’s mobile banking platform is compatible with iPad, Android and all smartphones, in addition to the iPhone, BlackBerry and mobile web."
RBS launch mobile banking app days after second card network crash
"From today, customers using the RBS/NatWest mobile phone app will be able to send a payment of up to £100 to anyone with a Visa card, by entering their mobile phone number. The announcement comes just days after the banking group apologised to customers for its second computer hitch in a year. A hardware fault left RBS Group customers blocked from using cashpoints for several hours last week, while online and telephone banking services were also disrupted. As well as currently having more than two million active users, the RBS/NatWest mobile banking app has 13 million logins per week."
Bank Alfalah, Warid launch mobile banking solution
"Monet – an independent mobile financial services company – partnered with Fundamo – Visa’s subsidiary and one of the world’s largest specialist mobile financial service providers – to launch a mobile money network in Pakistan, the press release said. Monet – which was set up by the Abu Dhabi Group last year – had secured approval from the State Bank of Pakistan to build its network, which is being offered to local firms planning to launch mobile money services."
The Benefits of Mobile Health, on Hold
"The world now has 5 billion mobile phones – one for every person over 15. Africa has a billion people and 750 million phones, and mobile is growing so fast there that in a few years there will be more phones than people. In some countries this is already true — South Africa has 47 million people, but 52 million SIM cards. The mobile phone is doing more than revolutionizing communication. It has the potential to improve many aspects of life in poor countries: commerce, health, agriculture, education."
Polish FI rolls out mobile banking, payment solution
"Polish financial institution PKO Bank Polski has launched its first mobile payment solution, called IKO. Based on the mobile payment platform of Swedish company Accumulate, the product supports mobile banking and payment services at the point of sale, real-time peer-to-peer payments and cardless withdrawals from ATMs."
Mobile banking a game changer, says SBP governor
"State Bank of Pakistan (SBP) Governor Yaseen Anwar has said that developments in branchless banking across the country have been so far marvelous, leaving nobody in doubt about the potential of mobile phone banking to be a game-changer in banking, m-commerce and financial inclusion. Speaking at the 6th International Conference on ‘Mobile Banking in Pakistan’ at a local hotel on Thursday, he said that developments in m-banking and m-commerce will lead us to connect the unbanked segment of our population to financial services, thus contributing to their empowerment."
Mobile phone-banking is failing to meet its potential
"India's 840 million mobile phone connections are emerging as knights in armour in the financial inclusion challenge—they hold the promise of providing banking access to the large swathe of India's unbanked population. Yet, today, less than 20 million people in India are using mobile banking services offered by some 50-odd banks, even though the National Payments Consortium of India (NPCI) has rolled out a gateway for inter-bank mobile payment services (IMPS)."
Shell-Backed Solar Company Bets on Phone Banking for Africa
"M-KOPA Kenya Ltd., backed by a Royal Dutch Shell Plc (RDSA)-funded charity, sees sales of its solar-lighting system that allows users to pay by phone surging 13-fold as mobile operators roll out banking services in Africa. The system, a panel powering lights and a phone charger, links to mobile banking services to allow customers to pay 40 Kenyan shillings (46 cents) a day to use it, M-KOPA says. The company plans to boost clients in Kenya to 100,000 from about 7,500 now, and expand abroad in future, Managing Director Jesse Moore said."
Kiwis double up on mobile banking
"The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year, according to Roy Morgan's latest Mobile Phone Monitor. While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year."
Mobile banking service expanding in Bangladesh
"Mobile banking is gaining ground among the people in Bangladesh within a short span of time for facilitating its easy transaction services. Some 3.0 million people make now the use of different services under mobile banking. There are about 70,000 outlets of mobile banking service-providers, making the services available to the users. The extent of such services and the volume of transactions involve a sizeable amount of money, between Tk 300 million and Tk 350 million, per day, according to the data of the Bangladesh Bank (BB)."
Mobile banking technologies catch on in Russia
Portable terminals and personal finance management services are sweeping the global banking market. In Russia, the mobile- and online-banking segments are growing, introducing similar innovations to the market. Some banks are ready to invest in these innovations, while others wait for these new technologies to become actual drivers for the industry."
ANZ launches enhanced mobile banking app
"The ANZ Bank has launched more enhancements to its mobile banking application, goMoney, which the company says makes it the “first bank in Australia” to integrate personal and business accounts into a single mobile banking application for customers using an iPhone. Nick Reade, ANZ General Manager Small Business Banking, said small business customers wanted to do their banking “when and where it suits them,” and increasingly customers were using mobile devices."
Santander UK Launches Mobile Banking App for Android
"Santander has launched a brand new mobile banking app for customers who use Android smartphones and tablets, including the Kindle Fire, as well as updating the iPhone/iPad app the bank originally launched in January 2012. The new apps provide a secure service for banking on the go, including a helpful single platform where customers can see information for all their Santander current accounts, savings and credit cards. The apps are available from the Apple App Store and the Android store (Google Play) and free to all of Santander's personal banking customers."
Visa Europe signs new three-year deal with Monitise to expand its mobile banking services across Europe
"Visa Europe has signed a new three-year deal with Monitise to develop and expand its various Mobile Money solutions, which support mobile banking, payments and commerce networks, to more leading financial institutions across Europe. The extended partnership means that Monitise is guaranteed minimum revenues of €45 million over the next three years, with the chance to go beyond that provided 'certain user generated thresholds are achieved.'”
"Some eight lucky Commercialbank customers have been named as the winners of the bank’s recent online and mobile banking campaign. The eight week promotion, which was open to all new and existing customers registered for Commercialbank’s online banking and mobile services, highlighted the 'flexibility, security and range of banking services' that the bank’s customers have access to from their mobile phone or computers. Commercialbank’s mobile banking platform is compatible with iPad, Android and all smartphones, in addition to the iPhone, BlackBerry and mobile web."
RBS launch mobile banking app days after second card network crash
"From today, customers using the RBS/NatWest mobile phone app will be able to send a payment of up to £100 to anyone with a Visa card, by entering their mobile phone number. The announcement comes just days after the banking group apologised to customers for its second computer hitch in a year. A hardware fault left RBS Group customers blocked from using cashpoints for several hours last week, while online and telephone banking services were also disrupted. As well as currently having more than two million active users, the RBS/NatWest mobile banking app has 13 million logins per week."
Bank Alfalah, Warid launch mobile banking solution
"Monet – an independent mobile financial services company – partnered with Fundamo – Visa’s subsidiary and one of the world’s largest specialist mobile financial service providers – to launch a mobile money network in Pakistan, the press release said. Monet – which was set up by the Abu Dhabi Group last year – had secured approval from the State Bank of Pakistan to build its network, which is being offered to local firms planning to launch mobile money services."
The Benefits of Mobile Health, on Hold
"The world now has 5 billion mobile phones – one for every person over 15. Africa has a billion people and 750 million phones, and mobile is growing so fast there that in a few years there will be more phones than people. In some countries this is already true — South Africa has 47 million people, but 52 million SIM cards. The mobile phone is doing more than revolutionizing communication. It has the potential to improve many aspects of life in poor countries: commerce, health, agriculture, education."
Polish FI rolls out mobile banking, payment solution
"Polish financial institution PKO Bank Polski has launched its first mobile payment solution, called IKO. Based on the mobile payment platform of Swedish company Accumulate, the product supports mobile banking and payment services at the point of sale, real-time peer-to-peer payments and cardless withdrawals from ATMs."
Mobile banking a game changer, says SBP governor
"State Bank of Pakistan (SBP) Governor Yaseen Anwar has said that developments in branchless banking across the country have been so far marvelous, leaving nobody in doubt about the potential of mobile phone banking to be a game-changer in banking, m-commerce and financial inclusion. Speaking at the 6th International Conference on ‘Mobile Banking in Pakistan’ at a local hotel on Thursday, he said that developments in m-banking and m-commerce will lead us to connect the unbanked segment of our population to financial services, thus contributing to their empowerment."
Mobile phone-banking is failing to meet its potential
"India's 840 million mobile phone connections are emerging as knights in armour in the financial inclusion challenge—they hold the promise of providing banking access to the large swathe of India's unbanked population. Yet, today, less than 20 million people in India are using mobile banking services offered by some 50-odd banks, even though the National Payments Consortium of India (NPCI) has rolled out a gateway for inter-bank mobile payment services (IMPS)."
Shell-Backed Solar Company Bets on Phone Banking for Africa
"M-KOPA Kenya Ltd., backed by a Royal Dutch Shell Plc (RDSA)-funded charity, sees sales of its solar-lighting system that allows users to pay by phone surging 13-fold as mobile operators roll out banking services in Africa. The system, a panel powering lights and a phone charger, links to mobile banking services to allow customers to pay 40 Kenyan shillings (46 cents) a day to use it, M-KOPA says. The company plans to boost clients in Kenya to 100,000 from about 7,500 now, and expand abroad in future, Managing Director Jesse Moore said."
Kiwis double up on mobile banking
"The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year, according to Roy Morgan's latest Mobile Phone Monitor. While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year."
Mobile banking service expanding in Bangladesh
"Mobile banking is gaining ground among the people in Bangladesh within a short span of time for facilitating its easy transaction services. Some 3.0 million people make now the use of different services under mobile banking. There are about 70,000 outlets of mobile banking service-providers, making the services available to the users. The extent of such services and the volume of transactions involve a sizeable amount of money, between Tk 300 million and Tk 350 million, per day, according to the data of the Bangladesh Bank (BB)."
Mobile banking technologies catch on in Russia
Portable terminals and personal finance management services are sweeping the global banking market. In Russia, the mobile- and online-banking segments are growing, introducing similar innovations to the market. Some banks are ready to invest in these innovations, while others wait for these new technologies to become actual drivers for the industry."
ANZ launches enhanced mobile banking app
"The ANZ Bank has launched more enhancements to its mobile banking application, goMoney, which the company says makes it the “first bank in Australia” to integrate personal and business accounts into a single mobile banking application for customers using an iPhone. Nick Reade, ANZ General Manager Small Business Banking, said small business customers wanted to do their banking “when and where it suits them,” and increasingly customers were using mobile devices."
Santander UK Launches Mobile Banking App for Android
"Santander has launched a brand new mobile banking app for customers who use Android smartphones and tablets, including the Kindle Fire, as well as updating the iPhone/iPad app the bank originally launched in January 2012. The new apps provide a secure service for banking on the go, including a helpful single platform where customers can see information for all their Santander current accounts, savings and credit cards. The apps are available from the Apple App Store and the Android store (Google Play) and free to all of Santander's personal banking customers."
Visa Europe signs new three-year deal with Monitise to expand its mobile banking services across Europe
"Visa Europe has signed a new three-year deal with Monitise to develop and expand its various Mobile Money solutions, which support mobile banking, payments and commerce networks, to more leading financial institutions across Europe. The extended partnership means that Monitise is guaranteed minimum revenues of €45 million over the next three years, with the chance to go beyond that provided 'certain user generated thresholds are achieved.'”
Wednesday, February 13, 2013
International Mobile Banking Updates - Feb 13
Mobile banking helps to empower Tanzanian women
"The ability to exchange money and make payments with smartphones is placing power in the hands of women. The GSMA mWomen Programme is working in combination with Bankable Frontier Associates (BFA) and Visa Inc. in five different countries in order to help to better use mobile banking to reach women who are underserved and whose needs can be directly met by this technology and its associated products."
Aircel, ICICI Bank launch mobile banking service
"Aircel and ICICI Bank have jointly launched a mobile banking service. Called Mobile Money, the service will be run on Visa’s mobile managed service. Mobile Money has been launched with a range of financial services on a mobile phone such as cash deposits, cash withdrawals and money transfer to third parties."
Leverage on developments in mobile banking — Gono
"THE Reserve Bank of Zimbabwe governor Gideon Gono has urged the banking sector to leverage on the current developments in mobile banking as an effective distribution network for financial products to various segments of society. Mobile banking is a system that allows customers of a financial institution to conduct a number of transactions through a mobile device such as a mobile phone or personal digital assistant."
Rakbank launches new services on Mobile Banking platform
"Rakbank, the leading retail and small business bank in the UAE, announced the launch of new services on its Mobile Banking platform that allow customers to conduct a wider range of banking transactions on the go via their handset. By introducing added services on its Mobile Banking Application and Service, customers can now use their mobile phones to order new cheque books, transfer balances, apply for supplementary cards, and even report a lost or stolen credit card. Rakbank Mobile Banking saves time when seeking investment details and when applying for an advance against salary."
HSBC enhances its mobile banking offering in its continued commitment
"HSBC has enhanced its mobile banking offering in its continued commitment to helping businesses streamline their banking needs. The new offering will allow customers to initiate payments to existing beneficiaries across the world. The facility adds to the extended suite of mobile solutions the Bank already offers its customers."
Standard Chartered kicks off 2013 Mobile Ventures Fellowship programme
"Standard Chartered Bank today signaled its ongoing commitment to talent development in financial services technology by announcing the 2013 Mobile Ventures Fellowship (MoVe) programme. Now in its second year, the MoVe programme was initiated as a part of the Infocomm Development Authority of Singapore's (IDA) Company-Led Training Programme (CLT). It aims to train new infocomm graduates and professionals in emerging and critical technologies. In calling for new applicants today, Standard Chartered announced another 10 traineeships for young Singaporean technopreneurs (MoVeRs) in mobile banking technology."
Aussie smartphone owners gravitating toward mobile banking
"An Australian study has found that the proportion of that nation's smartphone users who conduct banking transactions on their phones is now greater than 20 percent. Meanwhile, the percentage of smartphone users who bank online has dropped: Fewer than half of smartphone owners now use a computer for banking transactions, said the study from Roy Morgan Research."
"The ability to exchange money and make payments with smartphones is placing power in the hands of women. The GSMA mWomen Programme is working in combination with Bankable Frontier Associates (BFA) and Visa Inc. in five different countries in order to help to better use mobile banking to reach women who are underserved and whose needs can be directly met by this technology and its associated products."
Aircel, ICICI Bank launch mobile banking service
"Aircel and ICICI Bank have jointly launched a mobile banking service. Called Mobile Money, the service will be run on Visa’s mobile managed service. Mobile Money has been launched with a range of financial services on a mobile phone such as cash deposits, cash withdrawals and money transfer to third parties."
Leverage on developments in mobile banking — Gono
"THE Reserve Bank of Zimbabwe governor Gideon Gono has urged the banking sector to leverage on the current developments in mobile banking as an effective distribution network for financial products to various segments of society. Mobile banking is a system that allows customers of a financial institution to conduct a number of transactions through a mobile device such as a mobile phone or personal digital assistant."
Rakbank launches new services on Mobile Banking platform
"Rakbank, the leading retail and small business bank in the UAE, announced the launch of new services on its Mobile Banking platform that allow customers to conduct a wider range of banking transactions on the go via their handset. By introducing added services on its Mobile Banking Application and Service, customers can now use their mobile phones to order new cheque books, transfer balances, apply for supplementary cards, and even report a lost or stolen credit card. Rakbank Mobile Banking saves time when seeking investment details and when applying for an advance against salary."
HSBC enhances its mobile banking offering in its continued commitment
"HSBC has enhanced its mobile banking offering in its continued commitment to helping businesses streamline their banking needs. The new offering will allow customers to initiate payments to existing beneficiaries across the world. The facility adds to the extended suite of mobile solutions the Bank already offers its customers."
Standard Chartered kicks off 2013 Mobile Ventures Fellowship programme
"Standard Chartered Bank today signaled its ongoing commitment to talent development in financial services technology by announcing the 2013 Mobile Ventures Fellowship (MoVe) programme. Now in its second year, the MoVe programme was initiated as a part of the Infocomm Development Authority of Singapore's (IDA) Company-Led Training Programme (CLT). It aims to train new infocomm graduates and professionals in emerging and critical technologies. In calling for new applicants today, Standard Chartered announced another 10 traineeships for young Singaporean technopreneurs (MoVeRs) in mobile banking technology."
Aussie smartphone owners gravitating toward mobile banking
"An Australian study has found that the proportion of that nation's smartphone users who conduct banking transactions on their phones is now greater than 20 percent. Meanwhile, the percentage of smartphone users who bank online has dropped: Fewer than half of smartphone owners now use a computer for banking transactions, said the study from Roy Morgan Research."
Wednesday, January 23, 2013
Mobile Banking Updates - Jan 23
U.S. Bank Launching “Go Mobile” App in Salt Lake and Portland Offering Cardless Purchases Using an iPhone
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."
Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."
YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."
Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."
Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."
Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."
YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."
Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."
Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."
Sunday, November 18, 2012
Mobile Banking Updates - Nov 18
PayAnywhere jumps into mobile-payment ring
"Square is on a roll, and PayPal's triangular device is gaining momentum. But a new national mobile-payment service thinks it has enough game to disrupt the fledgling market. In the past year, Detroit-based PayAnywhere has quietly amassed a formidable retail network — Walmart, Home Depot, Amazon, OfficeMax, Sam's Club, Sears and Kmart are among its partners — to sell its $9.95 mobile credit card readers to business merchants."
Bank of America, First Data unveil mobile credit-card processor
"A joint venture between Bank of America and Atlanta payment processor First Data is jumping into the game of turning smart phones and tablets into cashless pay stations. Atlanta-based Bank of America Merchant Services unveiled on Tuesday its Mobile Pay on Demand card readers and mobile applications, becoming the latest challenger in a crowded new niche for processing credit and debit cards for smaller businesses that want to be more mobile or ones that are new to electronic payments."
Visa Moves Banks To The Virtual Wallet
"Earlier this year we forecasted the need for big financial institutions to enter e-commerce as the credit card industry matures. Several tech companies had already entered into e-commerce as a challenge to traditional banking. Visa’s (V) mobile payment program, V.me, recently exited out of beta testing and has announced the cooperation of over 50 banks and credit unions with the service. V.me largely resembles Paypal (owned by eBay) by getting rid of the need to enter all those numbers on your credit card when you buy online. The program is entering an increasingly saturated “m-commerce market” that includes products from the Square, Mastercard (MA), Google (GOOG), eBay (EBAY), and American Express (AXP)."
Bank of America Mobilizes Merchants
"When it comes to mobile banking services, Bank of America has outrun its peers every time. While JPMorgan Chase, Wells Fargo, and Citigroup all offer a varied palette of mobile options, B of A consistently offers the most -- and updates these offerings regularly. Having excelled in the customer mobile offerings department, the bank is now moving into the retailer arena, offering a new way for merchants to turn their smartphones and tablets into roaming payment terminals. Though not a new idea, the dongle-based payment system will put B of A in the same space as payment giant Square, and tech biggie Apple."
Has Square Already Won America's Mobile Payments Race?
"Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch. Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones."
Mobile Banking – More Than Everyday Transactions
"You may have noticed that much of the recent industry news around mobile banking has focused on everyday banking transactions. The message we’re seemingly inundated with is that online banking is only the first step, and that truly anywhere/anytime processing of everyday transactions like balance statements, transfers, as well as credit, payment and cheque processing can more easily be accomplished with mobile banking. What’s been missing from the story, though, is mobile banking’s significance to high-value transactions, like mortgage openings and those accompanying investment and wealth management."
"Square is on a roll, and PayPal's triangular device is gaining momentum. But a new national mobile-payment service thinks it has enough game to disrupt the fledgling market. In the past year, Detroit-based PayAnywhere has quietly amassed a formidable retail network — Walmart, Home Depot, Amazon, OfficeMax, Sam's Club, Sears and Kmart are among its partners — to sell its $9.95 mobile credit card readers to business merchants."
Bank of America, First Data unveil mobile credit-card processor
"A joint venture between Bank of America and Atlanta payment processor First Data is jumping into the game of turning smart phones and tablets into cashless pay stations. Atlanta-based Bank of America Merchant Services unveiled on Tuesday its Mobile Pay on Demand card readers and mobile applications, becoming the latest challenger in a crowded new niche for processing credit and debit cards for smaller businesses that want to be more mobile or ones that are new to electronic payments."
Visa Moves Banks To The Virtual Wallet
"Earlier this year we forecasted the need for big financial institutions to enter e-commerce as the credit card industry matures. Several tech companies had already entered into e-commerce as a challenge to traditional banking. Visa’s (V) mobile payment program, V.me, recently exited out of beta testing and has announced the cooperation of over 50 banks and credit unions with the service. V.me largely resembles Paypal (owned by eBay) by getting rid of the need to enter all those numbers on your credit card when you buy online. The program is entering an increasingly saturated “m-commerce market” that includes products from the Square, Mastercard (MA), Google (GOOG), eBay (EBAY), and American Express (AXP)."
Bank of America Mobilizes Merchants
"When it comes to mobile banking services, Bank of America has outrun its peers every time. While JPMorgan Chase, Wells Fargo, and Citigroup all offer a varied palette of mobile options, B of A consistently offers the most -- and updates these offerings regularly. Having excelled in the customer mobile offerings department, the bank is now moving into the retailer arena, offering a new way for merchants to turn their smartphones and tablets into roaming payment terminals. Though not a new idea, the dongle-based payment system will put B of A in the same space as payment giant Square, and tech biggie Apple."
Has Square Already Won America's Mobile Payments Race?
"Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch. Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones."
Mobile Banking – More Than Everyday Transactions
"You may have noticed that much of the recent industry news around mobile banking has focused on everyday banking transactions. The message we’re seemingly inundated with is that online banking is only the first step, and that truly anywhere/anytime processing of everyday transactions like balance statements, transfers, as well as credit, payment and cheque processing can more easily be accomplished with mobile banking. What’s been missing from the story, though, is mobile banking’s significance to high-value transactions, like mortgage openings and those accompanying investment and wealth management."
Thursday, August 2, 2012
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."
"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."
Wednesday, July 18, 2012
Mobile Banking International Updates
Mobility facilitates MEA distribution of banking services says IDC
"While financial institutions seek to develop alternative channels as a means to drive business efficiency and a better customer experience, an increase in consumer mobility has presented an attractive opportunity. According to a recent study by market research and consulting company IDC, the current penetration rate of banking services in the Middle East and Africa (MEA) is estimated at less than 35 per cent."
Standard Bank quietly releases mobile banking app
"A year after FNB shook up the banking market with their first mobile banking app, Standard Bank has quietly released its own version. LIRON SEGEV assesses the new app. A full 12 month after a mobile banking app was launched by First National Bank, Standard Bank has finally launched its own mobile app. Welcome to the party. There is no indication of why the app was launched so quietly, as it is available across three of the popular South Africa device platforms, namely:"
Lloyds TSB Launches Its 2012 Student Account
"Lloyds TSB today announces the launch of its 2012 Student Current Account. Available to new and existing customers from 5th July 2012, the account includes a number of benefits, including the ability to help students track of their spending and take more control of their money. The account includes:"
BOV now offering a mobile SMS notifications service
"Bank of Valletta is intensifying its efforts to deliver new services to its customers through a mobile platform following the successful launch of the first mobile banking and payments service in Malta earlier this year. With immediate effect, the Bank’s network of Automated Teller Machines (ATMs) has been upgraded to enable BOV customers to enter or confirm their mobile telephone number."
‘Stress is an essential ingredient for growth,’ says mobile money pioneer
"Prior to chatting with Hannes van Rensburg – founder and CEO of Fundamo, a mobile financial services platform provider – I had expected a man who would be eager to impart his business wisdom and tell us exactly how it’s done. I had expected a person who would revel in his achievements. But Van Rensburg is a humble man who I felt didn’t enjoy boasting of his success. In fact he said that Fundamo – a mobile payments company he sold to Visa for US$110 million – 'just happened'."
UK adults distrust mobile banking
"Nearly three-quarters of adults in the U.K. consider mobile banking to be unsafe, said a survey by Wincor-Nixdorf. The study, reported in the U.K.'s SC Magazine, included 2,031 British adults. 'When you look at some technology such as the ATM, this has become a retail banking mainstay,' Ed Brindley, director of marketing at Wincor Nixdorf, said. 'Consumers feel comfortable using it and see that it is of benefit. However, the key here is that it was rolled out gradually and consumers were given the right education in how to use it.'"
"While financial institutions seek to develop alternative channels as a means to drive business efficiency and a better customer experience, an increase in consumer mobility has presented an attractive opportunity. According to a recent study by market research and consulting company IDC, the current penetration rate of banking services in the Middle East and Africa (MEA) is estimated at less than 35 per cent."
Standard Bank quietly releases mobile banking app
"A year after FNB shook up the banking market with their first mobile banking app, Standard Bank has quietly released its own version. LIRON SEGEV assesses the new app. A full 12 month after a mobile banking app was launched by First National Bank, Standard Bank has finally launched its own mobile app. Welcome to the party. There is no indication of why the app was launched so quietly, as it is available across three of the popular South Africa device platforms, namely:"
Lloyds TSB Launches Its 2012 Student Account
"Lloyds TSB today announces the launch of its 2012 Student Current Account. Available to new and existing customers from 5th July 2012, the account includes a number of benefits, including the ability to help students track of their spending and take more control of their money. The account includes:"
BOV now offering a mobile SMS notifications service
"Bank of Valletta is intensifying its efforts to deliver new services to its customers through a mobile platform following the successful launch of the first mobile banking and payments service in Malta earlier this year. With immediate effect, the Bank’s network of Automated Teller Machines (ATMs) has been upgraded to enable BOV customers to enter or confirm their mobile telephone number."
‘Stress is an essential ingredient for growth,’ says mobile money pioneer
"Prior to chatting with Hannes van Rensburg – founder and CEO of Fundamo, a mobile financial services platform provider – I had expected a man who would be eager to impart his business wisdom and tell us exactly how it’s done. I had expected a person who would revel in his achievements. But Van Rensburg is a humble man who I felt didn’t enjoy boasting of his success. In fact he said that Fundamo – a mobile payments company he sold to Visa for US$110 million – 'just happened'."
UK adults distrust mobile banking
"Nearly three-quarters of adults in the U.K. consider mobile banking to be unsafe, said a survey by Wincor-Nixdorf. The study, reported in the U.K.'s SC Magazine, included 2,031 British adults. 'When you look at some technology such as the ATM, this has become a retail banking mainstay,' Ed Brindley, director of marketing at Wincor Nixdorf, said. 'Consumers feel comfortable using it and see that it is of benefit. However, the key here is that it was rolled out gradually and consumers were given the right education in how to use it.'"
Sunday, May 13, 2012
Mobile Banking Updates - May 13
Biggest trends in mobile banking
"Clickatell CEO, Pieter Streicher predicts that mobile check capture, person-to-person payments and customized apps will be the biggest trends in mobile banking this year. Streicher told MyBroadband BusinessTech that 90% of the banks they deal with have, or will have, a mobile strategy by the end of 2012. This is driven by the need to serve their customers in a more cost-effective manner and the need to offer more value added services."
Refundo offers mobile banking for Spanish speakers
"Roger Chinchilla and Grimaldy Dominguez grew up watching Latin American families struggle in Queens, New York. As entrepreneurs, the two have created a free mobile banking system to help Hispanics keep track of their money. Chinchilla came as a toddler from Honduras in 1986, and Dominguez arrived from the Dominican Republic as a child in 1993. As they tell it, both grew tired of watching workers pay sharp fees to cash paychecks at check cashers."
NACHA Conference: Mortal Danger for Small FIs
"Call this the loud message out of NACHA 2012: Financial institutions can choose to innovate. Or to die. And the pressures are higher on community banks and credit unions for a painful reason. 'The crux of the community bank and credit union model is to focus on customer relationships. But now that is all electronic,' said Carey Whaley, a vice president at the Independent Community Bankers of America, who put on a panel titled, 'Innovation: The Key to Smaller FI Survival?'”
Millennial Media Releases Comprehensive Report on Mobile Advertising in the Finance Industry "Millennial Media MM, the independent leader in mobile advertising, today released a report containing an in-depth look at mobile advertising in the finance industry. The report was produced in conjunction with comScore, and is the third edition of the Mobile Intel Series; it follows previous reports on Retail and Automotive. The Mobile Intel Series: Finance report contains detailed information on the mobile finance audience, how this audience uses mobile, what advertisers are currently doing to reach this audience, and what best practices brands can use to succeed in the space."
VISA President: we’ve “moved beyond” NFC
"This morning at the 2nd full day’s keynote at CTIA 2012, VISA President John Partridge offered the company’s view on how the mobile world will expand in the very near future. In and important step in the story of banking across the earth, mobile banking specifically, 2.5 billion “unbanked” adults across were introduced to mobile banking in the very recent past which has “transformed the lives of millions of people” said Partridge. “NFC technology has been the global mobile payment standard technology” noted Partridge, “this is a critical step,” through “VISA has moved beyond this method” with V.me by VISA."
Friday, March 23, 2012
Mobile Banking Vendor Updates - Mar 23
PayOne Simplifies Mobile Payments on a Global Scale
"PayOne (www.PayOne.com), formally called PaymentOne, announced today a complete rebranding of the company that invented “no credit card required” carrier billing for digital commerce more than twelve years ago. PaymentOne becomes PayOne today with a new look, a new website and the launch of a new simplified One-Click mobile payments platform designed for the future of global commerce in support of a 360 degree mobile lifestyle."
Mitek Systems: A Smart Play In Mobile Banking
"Mitek Systems creates applications and programs for mobile banking services. Because of Mitek Systems, a person with an iPhone can take a picture of a check and have that check be deposited to their checking account automatically. Consumers and the banking industry are just beginning to realize the economic advantages of mobile banking technologies."
MCHN Launches Mobile Solutions Suite of Banking Services
"Mobile Clearinghouse Network (MCHN), a recently awarded Microsoft BizSpark One member, is announcing the inaugural launch of their MCHN Mobile Solutions banking platform for mobile devices. The initial pilot has rolled out in the country of Georgia with the BTA Bank, a Silk Road Group majority owned entity. Through the combination of the MCHN global hub integration capabilities and MCHN Mobile Solutions' suite of transaction services, clients are positioned to offer their customers a secure and robust mobile offering for all of their financial needs."
RTN Federal CU selects Tyfone for m-banking
"RTN Federal Credit Union (RTN FCU), serving communities in suburban Boston, Massachusetts, will provide its members a comprehensive suite of mobile wallet services and mobile financial services powered by Tyfone's next generation mobile banking solution. Tyfone's mobile banking services will be integrated directly into RTN's Fiserv hosted XP2 core."
Cardlytics Presenting On The Impact of Rewards In A Mobile Banking Environment At BAI Payments Connect 2012
"Cardlytics, the pioneer of Transaction-Driven Marketing(TM), announced that Rod Witmond, senior vice president for product management and marketing, will join other industry executives today in the panel presentation, "Rewards in a Mobile Banking Environment," at BAI Payments Connect 2012 (3:30 p.m. at The Mirage hotel in Las Vegas)."
Truly Mobile Banking: Plastyc Launches Smartphone Apps for the Underbanked
"UPside Visa is Plastyc's award-winning prepaid program offering a premium suite of affordable banking services tailored for the up-and-coming youth and under-banked markets. What's unique about the UPside Visa mobile apps for Android and iPhone are how they meet a complete range of personal banking needs, activating a new account, signing up for direct deposit, redeeming cash back points, paying bills, transferring funds to friends, issuing paper checks and more -- using just a smartphone. Of course, the apps enable the basics, such as checking balances and reviewing transaction histories, as well."
VocaLink partners Clairmail for mobile banking
"The partnership will enable banks to use Clairmail's Smart Client technology to deliver new services to their customers, such as Person-to-Person Mobile Payments, enabled by VocaLink's real-time capabilities, such as Faster and Immediate Payments and multi-channel service options. Through this partnership, VocaLink and Clairmail will enable banks to provide a roadmap of innovative, real-time banking solutions through the mobile channel."
RDM Corporation Extends Mobile Deposit Services to Android Phones
"RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced the support of Simply Deposit Mobile® for Android. This new application follows the previously released version for iPhone. Simply Deposit Mobile enables users to deposit checks with their Android phone from virtually anywhere. RDM has been an early leader and pioneer in mobile payments, offering mobile check capture services since 2009. "
Elephant Talk Banks on Mobile
"For investors seeking hyper growth, one of the ripest areas is mobile telecom.
The trends in the financial industry are especially favorable for one of my leading microcap companies -- Elephant Talk Communications (ETAK) and its security-focused ValidSoft subsidiary -- as they roll out their solutions in 2012 to counter electronic fraud relating to card, the internet, and telephone channels."
"PayOne (www.PayOne.com), formally called PaymentOne, announced today a complete rebranding of the company that invented “no credit card required” carrier billing for digital commerce more than twelve years ago. PaymentOne becomes PayOne today with a new look, a new website and the launch of a new simplified One-Click mobile payments platform designed for the future of global commerce in support of a 360 degree mobile lifestyle."
Mitek Systems: A Smart Play In Mobile Banking
"Mitek Systems creates applications and programs for mobile banking services. Because of Mitek Systems, a person with an iPhone can take a picture of a check and have that check be deposited to their checking account automatically. Consumers and the banking industry are just beginning to realize the economic advantages of mobile banking technologies."
MCHN Launches Mobile Solutions Suite of Banking Services
"Mobile Clearinghouse Network (MCHN), a recently awarded Microsoft BizSpark One member, is announcing the inaugural launch of their MCHN Mobile Solutions banking platform for mobile devices. The initial pilot has rolled out in the country of Georgia with the BTA Bank, a Silk Road Group majority owned entity. Through the combination of the MCHN global hub integration capabilities and MCHN Mobile Solutions' suite of transaction services, clients are positioned to offer their customers a secure and robust mobile offering for all of their financial needs."
RTN Federal CU selects Tyfone for m-banking
"RTN Federal Credit Union (RTN FCU), serving communities in suburban Boston, Massachusetts, will provide its members a comprehensive suite of mobile wallet services and mobile financial services powered by Tyfone's next generation mobile banking solution. Tyfone's mobile banking services will be integrated directly into RTN's Fiserv hosted XP2 core."
Cardlytics Presenting On The Impact of Rewards In A Mobile Banking Environment At BAI Payments Connect 2012
"Cardlytics, the pioneer of Transaction-Driven Marketing(TM), announced that Rod Witmond, senior vice president for product management and marketing, will join other industry executives today in the panel presentation, "Rewards in a Mobile Banking Environment," at BAI Payments Connect 2012 (3:30 p.m. at The Mirage hotel in Las Vegas)."
Truly Mobile Banking: Plastyc Launches Smartphone Apps for the Underbanked
"UPside Visa is Plastyc's award-winning prepaid program offering a premium suite of affordable banking services tailored for the up-and-coming youth and under-banked markets. What's unique about the UPside Visa mobile apps for Android and iPhone are how they meet a complete range of personal banking needs, activating a new account, signing up for direct deposit, redeeming cash back points, paying bills, transferring funds to friends, issuing paper checks and more -- using just a smartphone. Of course, the apps enable the basics, such as checking balances and reviewing transaction histories, as well."
VocaLink partners Clairmail for mobile banking
"The partnership will enable banks to use Clairmail's Smart Client technology to deliver new services to their customers, such as Person-to-Person Mobile Payments, enabled by VocaLink's real-time capabilities, such as Faster and Immediate Payments and multi-channel service options. Through this partnership, VocaLink and Clairmail will enable banks to provide a roadmap of innovative, real-time banking solutions through the mobile channel."
RDM Corporation Extends Mobile Deposit Services to Android Phones
"RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced the support of Simply Deposit Mobile® for Android. This new application follows the previously released version for iPhone. Simply Deposit Mobile enables users to deposit checks with their Android phone from virtually anywhere. RDM has been an early leader and pioneer in mobile payments, offering mobile check capture services since 2009. "
Elephant Talk Banks on Mobile
"For investors seeking hyper growth, one of the ripest areas is mobile telecom.
The trends in the financial industry are especially favorable for one of my leading microcap companies -- Elephant Talk Communications (ETAK) and its security-focused ValidSoft subsidiary -- as they roll out their solutions in 2012 to counter electronic fraud relating to card, the internet, and telephone channels."
Monday, March 12, 2012
Mobile Banking Updates - Mar 12
Chase Tops Mobile Banking Scorecard
"Chase took top honors in an analysis of the mobile offerings of the top 15 U.S. banks released today. Keynote Competitive Research, the industry analysis group of San Mateo, Calif.-based Keynote Systems, released its expanded 2012 "Mobile Banking Scorecard," first issued in 2011. The latest scorecard measures and ranks the banks based on a list of more than 100 criteria in four main categories: functionality, ease of use, privacy and security, and quality and availability. The analysis was developed from consumer research and extensive interviews with practitioners, said Keynote."
Green Dot to Acquire Loopt
"Green Dot Corporation GDOT +0.27% , a provider of widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, has entered into a definitive agreement to acquire Loopt, Inc., of Mountain View, California. The transaction is expected to close by the end of the first quarter of 2012 and is subject to regulatory approvals and other closing conditions."
Big boys gear up for bigger play in mobile banking
"The opportunity em erging from India’s efforts to rope in a large unbanked population under the financial system has some of the key players from the mobile world and the financial sector sit up and take note. Among them, are telecom players like Bharti Airtel and Vodafone, mobile infrastructure providers such as Ericsson, money transfer players like Western Union and Visa."
One in four online households use mobile banking
"Here's another sign that credit unions should offer mobile banking options. One in four U.S. online households already use a mobile banking service, and many are moving beyond employing mobile devices for information (such as checking a balance or locating an ATM) and toward making transactions (paying bills and transferring money), says a new study."
BBVA Compass Announces Launch of Enhanced iPhone App
"BBVA Compass today launched version 2.0 of the bank's native application for the iPhone. The free app's enhancements allow users to pay bills as well as view check images, transaction receipts, account charts and payments. It also allows users not previously using online banking to enroll in mobile banking directly from the app."
BofI Federal Bank Launches Mobile Check Deposit App in Latest Advance of Mobile Banking Platform
"BofI Federal Bank BOFI +1.03% announced today the expansion of its mobile banking platform with the introduction of its new Mobile Deposit App that enables anytime, anywhere deposits of checks using an iPhone or Android(TM) phone. Mobile Check Deposits is the latest addition to the BofI Federal Bank Mobile Banking Platform, launched in 2011."
"Chase took top honors in an analysis of the mobile offerings of the top 15 U.S. banks released today. Keynote Competitive Research, the industry analysis group of San Mateo, Calif.-based Keynote Systems, released its expanded 2012 "Mobile Banking Scorecard," first issued in 2011. The latest scorecard measures and ranks the banks based on a list of more than 100 criteria in four main categories: functionality, ease of use, privacy and security, and quality and availability. The analysis was developed from consumer research and extensive interviews with practitioners, said Keynote."
Green Dot to Acquire Loopt
"Green Dot Corporation GDOT +0.27% , a provider of widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, has entered into a definitive agreement to acquire Loopt, Inc., of Mountain View, California. The transaction is expected to close by the end of the first quarter of 2012 and is subject to regulatory approvals and other closing conditions."
Big boys gear up for bigger play in mobile banking
"The opportunity em erging from India’s efforts to rope in a large unbanked population under the financial system has some of the key players from the mobile world and the financial sector sit up and take note. Among them, are telecom players like Bharti Airtel and Vodafone, mobile infrastructure providers such as Ericsson, money transfer players like Western Union and Visa."
One in four online households use mobile banking
"Here's another sign that credit unions should offer mobile banking options. One in four U.S. online households already use a mobile banking service, and many are moving beyond employing mobile devices for information (such as checking a balance or locating an ATM) and toward making transactions (paying bills and transferring money), says a new study."
BBVA Compass Announces Launch of Enhanced iPhone App
"BBVA Compass today launched version 2.0 of the bank's native application for the iPhone. The free app's enhancements allow users to pay bills as well as view check images, transaction receipts, account charts and payments. It also allows users not previously using online banking to enroll in mobile banking directly from the app."
BofI Federal Bank Launches Mobile Check Deposit App in Latest Advance of Mobile Banking Platform
"BofI Federal Bank BOFI +1.03% announced today the expansion of its mobile banking platform with the introduction of its new Mobile Deposit App that enables anytime, anywhere deposits of checks using an iPhone or Android(TM) phone. Mobile Check Deposits is the latest addition to the BofI Federal Bank Mobile Banking Platform, launched in 2011."
Sunday, February 12, 2012
Mobile Banking Updates - Feb 12
Is Mobile Banking More Popular Than Social Media?
"More people check their bank account balance than “check-in” on Foursquare, according to “Mobile Dependence Day,” a recent ExactTarget report on mobile usage. The report revealed 34% of smartphone users check their bank account balance on their smartphones, compared to 28% who “check-in” using a service like Foursquare, 23% who pay a bill, or 15% who redeem a mobile coupon."
Mobile banking grew 63pc year-to-year: study
"Fueled by large financial institutions, mobile banking grew 63 percent from 2010 to 2011 and reached 22 million new consumers in 2011, according to a study from Javelin Strategy and Research.
In the “Mobile banking, smartphone and tablet forecast: 2011-2016” study, Javelin took a look at the current state of mobile banking and where it is headed in the next five years. The report also presented how mobile banking stacks up between large and smaller financial institutions."
Up your mobile game or face customer churn
"As moves to make account switching easier draw closer (D-day for regulation to come into play is currently September 2013), the Payments Council has published a report confirming the consumer demand for a more simple way to move from one current account provider to another.
There are many fables about consumer reticence in changing their main banking provider, including the fact that you are more likely to divorce than switch banks in your lifetime. However, customer churn is now slowly rising up the list of challenges that banks face."
Visa Introduces Suite of Mobile Services for U.S. Financial Institutions
"Visa Inc. today announced the launch of mobile services that allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transaction alerts on their mobile devices.
Working in collaboration with Monitise UK:MONI +5.80% , Visa made a significant enhancement to its issuer processing platform, Visa DPS, to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or prepaid account."
"More people check their bank account balance than “check-in” on Foursquare, according to “Mobile Dependence Day,” a recent ExactTarget report on mobile usage. The report revealed 34% of smartphone users check their bank account balance on their smartphones, compared to 28% who “check-in” using a service like Foursquare, 23% who pay a bill, or 15% who redeem a mobile coupon."
Mobile banking grew 63pc year-to-year: study
"Fueled by large financial institutions, mobile banking grew 63 percent from 2010 to 2011 and reached 22 million new consumers in 2011, according to a study from Javelin Strategy and Research.
In the “Mobile banking, smartphone and tablet forecast: 2011-2016” study, Javelin took a look at the current state of mobile banking and where it is headed in the next five years. The report also presented how mobile banking stacks up between large and smaller financial institutions."
Up your mobile game or face customer churn
"As moves to make account switching easier draw closer (D-day for regulation to come into play is currently September 2013), the Payments Council has published a report confirming the consumer demand for a more simple way to move from one current account provider to another.
There are many fables about consumer reticence in changing their main banking provider, including the fact that you are more likely to divorce than switch banks in your lifetime. However, customer churn is now slowly rising up the list of challenges that banks face."
Visa Introduces Suite of Mobile Services for U.S. Financial Institutions
"Visa Inc. today announced the launch of mobile services that allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transaction alerts on their mobile devices.
Working in collaboration with Monitise UK:MONI +5.80% , Visa made a significant enhancement to its issuer processing platform, Visa DPS, to offer mobile services that are fully managed by Visa and can be accessed with any mobile device, any mobile channel, and with any eligible debit, credit or prepaid account."
Monday, November 28, 2011
International Mobile Banking Updates - Nov 28
African Lessons in Mobile Commerce
"There is a frequent assumption that, with technology, Africa always has to learn from more developed countries. But what if it is actually leading the way? Perhaps it has lessons to give rather than to receive. Two newly-published reports on electronic cash, one from Forrester sponsored by PayPal, and another from A.B.I. are outlined in The Register. While in developed countries companies continue to debate when or whether people will use cellphones instead of cash for everyday transactions, in Africa it is already happening. How are they making it work?"
Mobile banking fraudster held; police unearth loopholes
"In a breakthrough related to mobile banking fraud case, Kohima police arrested one person who allegedly managed to squeeze out few lakhs of rupees through fraudulent means (via mobile banking service). Police, who cracked the case last week, arrested Mhao Yanthan (27) a college drop out, resident of Bayavu following a complaint from a prominent Kohima businessman. The victim said an amount of Rs 1.5 lakh was withdrawn from his SBI account by some person(s) without his knowledge."
Mexico dials up new market for cell phone banking
"As if wireless connections, global positioning systems and apps for everything under the sun weren’t enough, cell phones in Mexico are adding another trick to the trade: cellular banking. A new law permitting mobile banking services by cell phone went into effect here in August, swinging open the door to a massive new market for the banking and communications industries."
BPI unveils first mobile banking platform for businesses
"Businesses today need efficient cash management solutions that allow businessmen to dispose of financial bottlenecks by viewing and approving financial transactions on the go. This was the principle that gave birth to the Bank of the Philippine Islands’ (BPI) latest innovation for businesses which it officially unveiled recently—the BPI ExpressLink Mobile."
French bank and carrier team up to bring mobile payments to market
"French banking group BNP Paribas has launched BNP Paribas Mobile, a suite of mobile banking and payments services. BNP Paribas Mobile is the result of a strategic partnership set up in July between the banking group and mobile network operator Orange. The new service includes:"
Smarter than a smartphone?
"Communicating through radio link has come a long way since World War II. With voice calls, text messages, mobile internet access and built-in cameras, today’s smartphone is already a remarkable all-in-one handheld computer — but its potential could be even greater in the developing world. This is particularly true in banking. Asia’s fragmented payments infrastructure and large unbanked population mean that millions lack even limited access to branch-based banking, but rising mobile penetration is creating new options for person-to-person payments."
Mobile banking rises among youth
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said the number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Visa is Tapping Huge Growth in Mobile Banking Volumes in Africa
"Earlier this year, Visa (NYSE:V) acquired Fundamo, a leading provider of mobile services for financial institutions and mobile network providers in developing countries mostly in Africa and the Middle East (See Visa Furthers Mobile Banking Push by Acquiring Fundamo). Leveraging its investment in Fundamo, Visa is creating prepaid accounts linked to mobile phones across Africa and the Middle East as the company aims to capture transactions from a majority of people in these regions who are still unbanked or under-banked."
Comparison: Zimbabwe’s mobile banking services transacting fees
"In Zimbabwe, those in tech (and banking) will remember 2011 as the year of mobile banking. Not in the sense of the use of mobile banking services by Zimbabweans, but more that it’s the year almost every financial institution and all mobile operators launched. One of the issues that have slowed adoption (or at least that discouraged some of us) is the cost of transacting. Last month for example, we compared the transacting costs of EcoCash to Safaricom’s M-PESA in Kenya and the conclusions we drew were that EcoCash was priced quite high."
"There is a frequent assumption that, with technology, Africa always has to learn from more developed countries. But what if it is actually leading the way? Perhaps it has lessons to give rather than to receive. Two newly-published reports on electronic cash, one from Forrester sponsored by PayPal, and another from A.B.I. are outlined in The Register. While in developed countries companies continue to debate when or whether people will use cellphones instead of cash for everyday transactions, in Africa it is already happening. How are they making it work?"
Mobile banking fraudster held; police unearth loopholes
"In a breakthrough related to mobile banking fraud case, Kohima police arrested one person who allegedly managed to squeeze out few lakhs of rupees through fraudulent means (via mobile banking service). Police, who cracked the case last week, arrested Mhao Yanthan (27) a college drop out, resident of Bayavu following a complaint from a prominent Kohima businessman. The victim said an amount of Rs 1.5 lakh was withdrawn from his SBI account by some person(s) without his knowledge."
Mexico dials up new market for cell phone banking
"As if wireless connections, global positioning systems and apps for everything under the sun weren’t enough, cell phones in Mexico are adding another trick to the trade: cellular banking. A new law permitting mobile banking services by cell phone went into effect here in August, swinging open the door to a massive new market for the banking and communications industries."
BPI unveils first mobile banking platform for businesses
"Businesses today need efficient cash management solutions that allow businessmen to dispose of financial bottlenecks by viewing and approving financial transactions on the go. This was the principle that gave birth to the Bank of the Philippine Islands’ (BPI) latest innovation for businesses which it officially unveiled recently—the BPI ExpressLink Mobile."
French bank and carrier team up to bring mobile payments to market
"French banking group BNP Paribas has launched BNP Paribas Mobile, a suite of mobile banking and payments services. BNP Paribas Mobile is the result of a strategic partnership set up in July between the banking group and mobile network operator Orange. The new service includes:"
Smarter than a smartphone?
"Communicating through radio link has come a long way since World War II. With voice calls, text messages, mobile internet access and built-in cameras, today’s smartphone is already a remarkable all-in-one handheld computer — but its potential could be even greater in the developing world. This is particularly true in banking. Asia’s fragmented payments infrastructure and large unbanked population mean that millions lack even limited access to branch-based banking, but rising mobile penetration is creating new options for person-to-person payments."
Mobile banking rises among youth
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said the number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Visa is Tapping Huge Growth in Mobile Banking Volumes in Africa
"Earlier this year, Visa (NYSE:V) acquired Fundamo, a leading provider of mobile services for financial institutions and mobile network providers in developing countries mostly in Africa and the Middle East (See Visa Furthers Mobile Banking Push by Acquiring Fundamo). Leveraging its investment in Fundamo, Visa is creating prepaid accounts linked to mobile phones across Africa and the Middle East as the company aims to capture transactions from a majority of people in these regions who are still unbanked or under-banked."
Comparison: Zimbabwe’s mobile banking services transacting fees
"In Zimbabwe, those in tech (and banking) will remember 2011 as the year of mobile banking. Not in the sense of the use of mobile banking services by Zimbabweans, but more that it’s the year almost every financial institution and all mobile operators launched. One of the issues that have slowed adoption (or at least that discouraged some of us) is the cost of transacting. Last month for example, we compared the transacting costs of EcoCash to Safaricom’s M-PESA in Kenya and the conclusions we drew were that EcoCash was priced quite high."
Monday, November 21, 2011
International Mobile Banking Updates - Nov 21
Visa, Fundamo unveil emerging markets MCommerce product
"Visa, the world’s largest credit and debit card network, has unveiled a new product that allows people to access a prepaid account through their mobile phone. The product, which appears to be nameless, was developed in conjunction with Fundamo, a leading South African mobile money platform bought out by Visa for $110m earlier this year."
Global Banks Offer Surprisingly Few Good Mobile Apps
"The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks (see table below). In the MyPrivateBanking survey Deutsche Bank’s apps scored especially well for the comprehensive content and the integration with other online media like Facebook, Twitter and the bank’s own website."
Mobile banking on the rise among young Canadians
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said that number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Rural Women Banking By Mobile Phone
"Collecting the monthly subscriptions for her co-operative has always been a headache for Thelma Nare, 41. This is because Nare lives in Tshitshi, Plumtree in rural Zimbabwe, about 60 kilometres away from the humdrum of the nearest town centre where banks are located."
"Visa, the world’s largest credit and debit card network, has unveiled a new product that allows people to access a prepaid account through their mobile phone. The product, which appears to be nameless, was developed in conjunction with Fundamo, a leading South African mobile money platform bought out by Visa for $110m earlier this year."
Global Banks Offer Surprisingly Few Good Mobile Apps
"The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks (see table below). In the MyPrivateBanking survey Deutsche Bank’s apps scored especially well for the comprehensive content and the integration with other online media like Facebook, Twitter and the bank’s own website."
Mobile banking on the rise among young Canadians
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said that number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Rural Women Banking By Mobile Phone
"Collecting the monthly subscriptions for her co-operative has always been a headache for Thelma Nare, 41. This is because Nare lives in Tshitshi, Plumtree in rural Zimbabwe, about 60 kilometres away from the humdrum of the nearest town centre where banks are located."
Tuesday, November 8, 2011
Mobile Banking Updates - Nov 8
RBS Citizens Presents Mobile App Case Study to Senior Financial Executives in Pittsburgh on November 8th
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
Tuesday, June 21, 2011
Mobile Banking Vendor Updates
Fiserv Touts Doubling of Mobile Money Clients
"Fiserv Inc. said Monday that it now has more than 375 financial institutions committed to its Mobile Money solution. The company said that includes nearly 200 credit unions and banks that have gone live on the service, more than twice as many as a year earlier. End-user adoption, meanwhile, has grown more than 600% in the last six months, the Brookfield, Wis., company said."
Visa makes two moves into mobile banking
"Visa announced two moves into mobile banking Thursday, buying a company that makes software for mobile banking users in Africa, Asia and the Middle East, and striking an agreement with another company that works with bank customers."
Clairmail Joins the RSA Secured® Partner Program to Provide Secure Access to Mobile Banking Offering
"The NetBank social media team on Twitter have been busy diverting bewildered customers to its mobile banking service and telephone call centres as the ongoing glitch continued overnight, disrupting the processing of transfers, bill payments and international money transfers from the bank's online site. The bank, which is in the middle of a $1.1 billion core banking system upgrade, has suffered numerous technical problems over the past year."
Mobile Check Deposit Cited as No. 1 Mobile Feature for Motivating Consumers to Switch Primary Banks, According to New Independent Research Study
"Mitek Systems, Inc. (OTC: MITK.OB; www.miteksystems.com), is citing new independent research reported by Mercatus LLC, a leading financial services strategy firm in Boston, that finds mobile check deposit ranks as the top mobile-banking feature that would prompt consumers to switch primary banks."
mFoundry Passes 400 Customer Milestone
"mFoundry, the fastest growing provider of SaaS-based mobile banking and payment solutions, today announced more than 400 U.S. financial institutions have selected mBanking, the company's flagship mobile banking and payments solution."
At Intuit, Mobile Account Access Gets a Push from Payments
"Intuit Inc. says momentum in mobile payments sparked by Google Inc. and the carrier venture Isis has boosted its own mobile banking business. The recent announcements from rivals have fueled "strong" interest in Intuit's latest mobile offerings, particularly demand for mobile account-management services among its core small and midsized bank customers, John Flora, Intuit Financial Services' group product manager, said in an interview."
"Fiserv Inc. said Monday that it now has more than 375 financial institutions committed to its Mobile Money solution. The company said that includes nearly 200 credit unions and banks that have gone live on the service, more than twice as many as a year earlier. End-user adoption, meanwhile, has grown more than 600% in the last six months, the Brookfield, Wis., company said."
Visa makes two moves into mobile banking
"Visa announced two moves into mobile banking Thursday, buying a company that makes software for mobile banking users in Africa, Asia and the Middle East, and striking an agreement with another company that works with bank customers."
Clairmail Joins the RSA Secured® Partner Program to Provide Secure Access to Mobile Banking Offering
"The NetBank social media team on Twitter have been busy diverting bewildered customers to its mobile banking service and telephone call centres as the ongoing glitch continued overnight, disrupting the processing of transfers, bill payments and international money transfers from the bank's online site. The bank, which is in the middle of a $1.1 billion core banking system upgrade, has suffered numerous technical problems over the past year."
Mobile Check Deposit Cited as No. 1 Mobile Feature for Motivating Consumers to Switch Primary Banks, According to New Independent Research Study
"Mitek Systems, Inc. (OTC: MITK.OB; www.miteksystems.com), is citing new independent research reported by Mercatus LLC, a leading financial services strategy firm in Boston, that finds mobile check deposit ranks as the top mobile-banking feature that would prompt consumers to switch primary banks."
mFoundry Passes 400 Customer Milestone
"mFoundry, the fastest growing provider of SaaS-based mobile banking and payment solutions, today announced more than 400 U.S. financial institutions have selected mBanking, the company's flagship mobile banking and payments solution."
At Intuit, Mobile Account Access Gets a Push from Payments
"Intuit Inc. says momentum in mobile payments sparked by Google Inc. and the carrier venture Isis has boosted its own mobile banking business. The recent announcements from rivals have fueled "strong" interest in Intuit's latest mobile offerings, particularly demand for mobile account-management services among its core small and midsized bank customers, John Flora, Intuit Financial Services' group product manager, said in an interview."
Thursday, May 19, 2011
Mobile Payments - May 19
Visa Unveils Next Generation Electronic Payments and Services
"Visa Inc., a global leader in electronic payments, today announced the next generation of payments solutions that will replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital eCommerce, mobile commerce and burgeoning social networking commerce environments. New offerings are expected to include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world."
Mocapay Launches Branded Payment Card Integration in Mobile Wallet
"Mocapay today announced the integration of association branded cards into its mobile wallet through the VeriFone PAYMEDIA solution. Through this partnership, Mocapay merchants will benefit from an additional payment type, the ability to learn critical demographic information about their target consumer, and the ability to engage one-on-one with their customers through Mocapay’s integrated mobile marketing database."
Intuit eyes NFC for mobile payment system
"Intuit wants to give its customers a glimpse of the future of mobile payments through an adaptation of its GoPayment service that eliminates the need for credit cards. Tapping into the growing field of NFC (near-field communication) technology, Intuit's reimagined GoPayment service would let consumers wirelessly pay for items on the go through just a touch of an NFC-enabled cell phone."
3 Reasons Mobile Payments Might Not Be Ready
"Mobile payment technology is generating about as much buzz as a typical Apple product release lately. NFC and mobile payment info is such a sexy topic, that just about every other day, we’ll see an article telling us to throw our wallets away forever. But wait, you may want to hold on to your bi-folds because it may be another few years before we adopt mobile payments on a mass level."
"Visa Inc., a global leader in electronic payments, today announced the next generation of payments solutions that will replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital eCommerce, mobile commerce and burgeoning social networking commerce environments. New offerings are expected to include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world."
Mocapay Launches Branded Payment Card Integration in Mobile Wallet
"Mocapay today announced the integration of association branded cards into its mobile wallet through the VeriFone PAYMEDIA solution. Through this partnership, Mocapay merchants will benefit from an additional payment type, the ability to learn critical demographic information about their target consumer, and the ability to engage one-on-one with their customers through Mocapay’s integrated mobile marketing database."
Intuit eyes NFC for mobile payment system
"Intuit wants to give its customers a glimpse of the future of mobile payments through an adaptation of its GoPayment service that eliminates the need for credit cards. Tapping into the growing field of NFC (near-field communication) technology, Intuit's reimagined GoPayment service would let consumers wirelessly pay for items on the go through just a touch of an NFC-enabled cell phone."
3 Reasons Mobile Payments Might Not Be Ready
"Mobile payment technology is generating about as much buzz as a typical Apple product release lately. NFC and mobile payment info is such a sexy topic, that just about every other day, we’ll see an article telling us to throw our wallets away forever. But wait, you may want to hold on to your bi-folds because it may be another few years before we adopt mobile payments on a mass level."
Wednesday, March 30, 2011
Mobile Banking Vendor Updates - Mar 30
Visa Debit Card – Convenient Domestic And Int’l Person-To-Person Payments Launched
"CashEdge Inc. the leading provider of Intelligent Money Movement® services, and Visa Inc. (NYSE: V), the world’s largest retail electronic payments network, today announced an agreement that will enable U.S. consumers to use their eligible Visa credit, debit and prepaid accounts to send and receive person-to-person (P2P) payments domestically and internationally through Popmoney®, CashEdge’s P2P email and mobile payments service. This capability, which will enable consumers to use Popmoney for transactions such as international remittance and funding prepaid cards, will be available in summer 2011."
Fiserv Named “Best Electronic Commerce Provider” by Global Finance Magazine
"Fiserv, Inc., the leading global provider of financial services technology solutions, announced today that it has been named “Best Electronic Commerce Provider” by Global Finance magazine. This is the fourth year in a row that the company has been honored by the publication."
Nokia Extends Mobile Money Service to Union Bank in India
"Nokia Oyj (NOK1V), the world’s biggest maker of mobile phones, has started supplying mobile banking services for a Union Bank of India offering aimed at phone customers who don’t have bank accounts. The Union Bank Money Powered by Nokia service is available in Gurgaon and will be released nationwide over the next few months, the Mumbai-based bank said in a statement."
"CashEdge Inc. the leading provider of Intelligent Money Movement® services, and Visa Inc. (NYSE: V), the world’s largest retail electronic payments network, today announced an agreement that will enable U.S. consumers to use their eligible Visa credit, debit and prepaid accounts to send and receive person-to-person (P2P) payments domestically and internationally through Popmoney®, CashEdge’s P2P email and mobile payments service. This capability, which will enable consumers to use Popmoney for transactions such as international remittance and funding prepaid cards, will be available in summer 2011."
Fiserv Named “Best Electronic Commerce Provider” by Global Finance Magazine
"Fiserv, Inc., the leading global provider of financial services technology solutions, announced today that it has been named “Best Electronic Commerce Provider” by Global Finance magazine. This is the fourth year in a row that the company has been honored by the publication."
Nokia Extends Mobile Money Service to Union Bank in India
"Nokia Oyj (NOK1V), the world’s biggest maker of mobile phones, has started supplying mobile banking services for a Union Bank of India offering aimed at phone customers who don’t have bank accounts. The Union Bank Money Powered by Nokia service is available in Gurgaon and will be released nationwide over the next few months, the Mumbai-based bank said in a statement."
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