"Among the more than 1,500 exhibitors at the Money2020 in Las Vegas this week, Zapp, the mobile payments initiative, is probably one of the few that is aiming to put banks firmly back into the middle of the payments process.
Formed earlier this year as a separate subsidiary of VocaLink, the UK payment processor, Zapp expects to launch next year with the backing of most of the major UK retail banks, Peter Keenan, chief executive of the venture, says that at the time of launch the Pay by Zapp service will be available to 40% of UK current account holders, and it will have the backing of 50% of the nation’s online and mobile retailers – including well-known brands." Continue Reading
Showing posts with label VocaLink. Show all posts
Showing posts with label VocaLink. Show all posts
Wednesday, October 16, 2013
Mobile payments – the tipping point
"There comes a tipping point when market readiness, social behaviour and technology combine to create a sudden, ubiquitous change of behaviour. For mobile payments the tipping point may have arrived – but will there be a dominant solution, asks Paul Stoddart.
VocaLink has completed one of the largest pieces of research into mobile usage by asking more than 10,000 adults across the United Kingdom (16-65 year olds) about their habits and behaviours. The research was designed to understand usage of and attitudes to mobile payments in both general and specific scenarios (such as paying for parking and retail) and to explore consumers’ views on the aspects of trust, reliability and security." Continue Reading
VocaLink has completed one of the largest pieces of research into mobile usage by asking more than 10,000 adults across the United Kingdom (16-65 year olds) about their habits and behaviours. The research was designed to understand usage of and attitudes to mobile payments in both general and specific scenarios (such as paying for parking and retail) and to explore consumers’ views on the aspects of trust, reliability and security." Continue Reading
Monday, July 1, 2013
International Mobile Banking Updates - July 1
Kenya: Barclays Bank Launches Mobile App
"In Kenya, The Star reports that Barclays Bank of Kenya has introduced a mobile banking app (BarclaysKenya), said to have similar functionality of the financial institution’s full online banking platform. The service is freely available and accessible to customers who have registered successfully for Barclays Internet Banking writes The Star."
Mobile-solution company Tagit to expand in the Philippines
"SINGAPORE-based mobile-solution company Tagit is planning to expand its business in the Philippines by offering mobile-banking application software to banks, its top official said. Sandeep Bagaria, chief executive officer of Tagit, in a recent interview with the BusinessMirror said he is talking with some banks in the country and offer mobile banking applications using Tagit’s Mobeix platform software."
NAB opens digital wallet and takes aim at CBA’s Kaching
"National Australia Bank is poised to kick off digital wallet trials with payments rivals Visa and MasterCard, as it assesses plans to take advantage of growth in mobile banking. The bank will also unveil its response to Commonwealth Bank of Australia’s Kaching payments app at the end of next month, after an internal trial. NAB’s executive general manager of digital and direct banking, Antony Cahill, said the bank was focusing on developments for smartphones and tablets after 76 per cent growth in uptake of mobile banking among its customers in the past 12 months."
High street banks unveil Zapp mobile payments system
"VocaLink has today unveiled a new mobile payment service backed by the UK's major high-street lenders, which provides the infrastructure behind Bacs, Direct Debit and Mobile Top-Up. VocaLink, which is owned by a consortium of 18 banks and building societies, including Barclays, RBS, Lloyds, HSBC and Santander, has named the service Zapp and set up a web page touting its advantages to businesses and individuals at zapp.co.uk."
Money On The Move Has Africa Clicking
"The ability to transact, to withdraw, deposit and manage personal finances anywhere at anytime is an attractive proposition for consumers. This is one of the core advantages of mobile banking services that mobile service providers and financial institutions are looking to invest in- and transfer to their markets. Another driver behind the market is the intention to bridge the gap between Africa’s increasing number of un-banked citizens and its banked community, particularly in terms of access to banking services."
Mobile banking doesn't pay off: Credit Suisse
"Banks are spending too much on digital banking, despite the rapid growth in customers managing finances on their mobile phones and tablets. A report by brokerage Credit Suisse said competition among banks was spurring on a massive investment in mobile technology although it was yet to have little material benefit to the banks. Mobile banking still accounts for less than 10 per cent of the value of digital transactions, despite the number of mobile banking customers surging to 6 million earlier this year."
Lloyds Bank Commercial Banking arm to roll out mobile card acceptance
"Lloyds Bank Commercial Banking is to develop a suite of mobile card acceptance solutions aimed at small retailers and business owners. The brand has announced a partnership with Monitise, which will see the release of the mobile point of sale (mPOS) payment products, while also intending to offer additional banking services and businesses solutions."
Some 50% of account holders prefer mobile banking
"THE Bank of Philippine Islands (BPI) on Thursday said the bank anticipates double-digit growth on mobile-banking transactions this year, its top official said. Carlo Gatuslao, BPI vice president and head of Channel Marketing and Sales Division, said more than half the number of account holders make use of their mobile-banking applications or apps to transact with the bank. BPI launched its first mobile-banking apps for Apple and android smartphones in 2011."
"In Kenya, The Star reports that Barclays Bank of Kenya has introduced a mobile banking app (BarclaysKenya), said to have similar functionality of the financial institution’s full online banking platform. The service is freely available and accessible to customers who have registered successfully for Barclays Internet Banking writes The Star."
Mobile-solution company Tagit to expand in the Philippines
"SINGAPORE-based mobile-solution company Tagit is planning to expand its business in the Philippines by offering mobile-banking application software to banks, its top official said. Sandeep Bagaria, chief executive officer of Tagit, in a recent interview with the BusinessMirror said he is talking with some banks in the country and offer mobile banking applications using Tagit’s Mobeix platform software."
NAB opens digital wallet and takes aim at CBA’s Kaching
"National Australia Bank is poised to kick off digital wallet trials with payments rivals Visa and MasterCard, as it assesses plans to take advantage of growth in mobile banking. The bank will also unveil its response to Commonwealth Bank of Australia’s Kaching payments app at the end of next month, after an internal trial. NAB’s executive general manager of digital and direct banking, Antony Cahill, said the bank was focusing on developments for smartphones and tablets after 76 per cent growth in uptake of mobile banking among its customers in the past 12 months."
High street banks unveil Zapp mobile payments system
"VocaLink has today unveiled a new mobile payment service backed by the UK's major high-street lenders, which provides the infrastructure behind Bacs, Direct Debit and Mobile Top-Up. VocaLink, which is owned by a consortium of 18 banks and building societies, including Barclays, RBS, Lloyds, HSBC and Santander, has named the service Zapp and set up a web page touting its advantages to businesses and individuals at zapp.co.uk."
Money On The Move Has Africa Clicking
"The ability to transact, to withdraw, deposit and manage personal finances anywhere at anytime is an attractive proposition for consumers. This is one of the core advantages of mobile banking services that mobile service providers and financial institutions are looking to invest in- and transfer to their markets. Another driver behind the market is the intention to bridge the gap between Africa’s increasing number of un-banked citizens and its banked community, particularly in terms of access to banking services."
Mobile banking doesn't pay off: Credit Suisse
"Banks are spending too much on digital banking, despite the rapid growth in customers managing finances on their mobile phones and tablets. A report by brokerage Credit Suisse said competition among banks was spurring on a massive investment in mobile technology although it was yet to have little material benefit to the banks. Mobile banking still accounts for less than 10 per cent of the value of digital transactions, despite the number of mobile banking customers surging to 6 million earlier this year."
Lloyds Bank Commercial Banking arm to roll out mobile card acceptance
"Lloyds Bank Commercial Banking is to develop a suite of mobile card acceptance solutions aimed at small retailers and business owners. The brand has announced a partnership with Monitise, which will see the release of the mobile point of sale (mPOS) payment products, while also intending to offer additional banking services and businesses solutions."
Some 50% of account holders prefer mobile banking
"THE Bank of Philippine Islands (BPI) on Thursday said the bank anticipates double-digit growth on mobile-banking transactions this year, its top official said. Carlo Gatuslao, BPI vice president and head of Channel Marketing and Sales Division, said more than half the number of account holders make use of their mobile-banking applications or apps to transact with the bank. BPI launched its first mobile-banking apps for Apple and android smartphones in 2011."
Monday, June 3, 2013
Mobile Payments - June 3
CR Money Minute: A better mobile wallet?
"More than 18 months ago, Google Wallet was launched on the Sprint cellular network amid hoopla that payment-by-smart-phone technology at cashiers nationwide would replace your plastic debit and credit cards. Since then, AT&T, T-Mobile, and Verizon Wireless have begun testing their own Isis Mobile Wallet, and other companies have also jumped on the bandwagon."
Mobile Payments: Is Your Bank Putting Its Best Foot Forward?
"As mobile communication becomes more and more affordable and user-friendly, mobile banking is gaining increasing acceptance globally. With innovations such as Near Field Communications (NFC), mobile wallets, virtual personal financial assistants and a slew of new and customized applications being developed and adopted, the mobile banking landscape is undergoing a rapid and irreversible transformation, to an extent that monetary transactions are no longer restricted to banks and traditional financial institutions."
Opportunity as mobile payments show huge growth
"IT research company Gartner projects that global mobile transaction growth will average 42 per cent per year between 2011 and 2016, with the market estimated to be worth $617bn (£404.8bn), with 448m users, by 2016. There is a plethora of different technologies and standards used in a globally fragmented market, with big regional differences. Probably the biggest difference is between developed and emerging markets. For developed markets, the benefits are based around convenience, with customers able to make faster transactions, together with reduced transaction costs for retailers – mobile payments are generally cheaper than existing chip-and-pin transactions."
Malauzai: Picture Pay Besting Mobile Bill Pay
"The big news in the latest mobile banking usage data dump from Austin, Texas, apps developer Malauzai is that mobile picture pay – paying bills by snapping a photo – is on the rise, even surpassing usage of mobile bill pay in some institutions. Robb Gaynor, chief technology officer at Malauzai, said in an interview that 5% of its active end-users give picture pay a try within 90 days of a financial institution’s launch of the service. The technology is catching on."
Brits trust banks to be mobile payment providers
"Consumers have a love-hate relationship with their banks. However, new research from UK-based payment systems firm VocaLink, suggests that when it comes to mobile payments, it's the banks to whom consumers look to provide the service."
U.S. Bank releases iPhone mobile payment case in Minnesota
"Minnesota U.S. Bank customers can now get an iPhone case that turns the smartphone into a touch-free, mobile payment device. U.S. Bancorp tested the Go Mobile device earlier this year in Salt Lake City and Portland, Ore. Now it's available in Minnesota and other major U.S. Bank markets like Ohio, U.S. Bank Payment Services Chief Innovation Officer Dominic Venturo told the Minneapolis/St. Paul Business Journal in an interview."
What do consumers really want from mobile payments asks VocaLink
"New research from international payments provider VocaLink reveals that growing smartphone ownership is driving the mobile payments revolution in the UK. 60% of UK consumers now own a smartphone and are using them as payment devices on the move. Whilst the appetite for mobile banking and payments in the UK is growing with half the population either already using mobile payments (20%) or interested in doing so (30%), uptake is rapidly gaining momentum amongst the future generation."
"More than 18 months ago, Google Wallet was launched on the Sprint cellular network amid hoopla that payment-by-smart-phone technology at cashiers nationwide would replace your plastic debit and credit cards. Since then, AT&T, T-Mobile, and Verizon Wireless have begun testing their own Isis Mobile Wallet, and other companies have also jumped on the bandwagon."
Mobile Payments: Is Your Bank Putting Its Best Foot Forward?
"As mobile communication becomes more and more affordable and user-friendly, mobile banking is gaining increasing acceptance globally. With innovations such as Near Field Communications (NFC), mobile wallets, virtual personal financial assistants and a slew of new and customized applications being developed and adopted, the mobile banking landscape is undergoing a rapid and irreversible transformation, to an extent that monetary transactions are no longer restricted to banks and traditional financial institutions."
Opportunity as mobile payments show huge growth
"IT research company Gartner projects that global mobile transaction growth will average 42 per cent per year between 2011 and 2016, with the market estimated to be worth $617bn (£404.8bn), with 448m users, by 2016. There is a plethora of different technologies and standards used in a globally fragmented market, with big regional differences. Probably the biggest difference is between developed and emerging markets. For developed markets, the benefits are based around convenience, with customers able to make faster transactions, together with reduced transaction costs for retailers – mobile payments are generally cheaper than existing chip-and-pin transactions."
Malauzai: Picture Pay Besting Mobile Bill Pay
"The big news in the latest mobile banking usage data dump from Austin, Texas, apps developer Malauzai is that mobile picture pay – paying bills by snapping a photo – is on the rise, even surpassing usage of mobile bill pay in some institutions. Robb Gaynor, chief technology officer at Malauzai, said in an interview that 5% of its active end-users give picture pay a try within 90 days of a financial institution’s launch of the service. The technology is catching on."
Brits trust banks to be mobile payment providers
"Consumers have a love-hate relationship with their banks. However, new research from UK-based payment systems firm VocaLink, suggests that when it comes to mobile payments, it's the banks to whom consumers look to provide the service."
U.S. Bank releases iPhone mobile payment case in Minnesota
"Minnesota U.S. Bank customers can now get an iPhone case that turns the smartphone into a touch-free, mobile payment device. U.S. Bancorp tested the Go Mobile device earlier this year in Salt Lake City and Portland, Ore. Now it's available in Minnesota and other major U.S. Bank markets like Ohio, U.S. Bank Payment Services Chief Innovation Officer Dominic Venturo told the Minneapolis/St. Paul Business Journal in an interview."
What do consumers really want from mobile payments asks VocaLink
"New research from international payments provider VocaLink reveals that growing smartphone ownership is driving the mobile payments revolution in the UK. 60% of UK consumers now own a smartphone and are using them as payment devices on the move. Whilst the appetite for mobile banking and payments in the UK is growing with half the population either already using mobile payments (20%) or interested in doing so (30%), uptake is rapidly gaining momentum amongst the future generation."
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