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Headline News – October 20, 2010

mobile news — Thu, 21 Oct 2010 03:10:14 +0000

Headline News is compiled by Glenbrook Partners: J.P. Morgan Streamlines Payments to and from Asia WAUSAU Financial Systems Relaunches Comprehensive Remote Deposit Capture Suite TSYS to Provide Payment Services to Swisscard Stacks and Stacks Adds Mazooma’s Debit Solution to Online Payment Options Survey Says One Third of Consumers Now Using Online Banking Tools To Manage Finances Amdocs Partners With Vesta to Offer a Combined Prepaid Charging and Top-Up Solution ClairMail Sponsors Survey on the Value of Mobile Banking Among Top Bank Executives Hot Shot Media Selects ThreatMetrix To Protect Online Properties Note: Throughout the day, as we spot interesting developments,…

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Tags: mobile, mobile banking, payment

Monitise Unveils Global Mobile Money Technology Platform

mobile news — Sat, 16 Oct 2010 22:10:54 +0000

Monitise has announced its enhanced technology platform which “incorporates a range of mobile banking and payment services to deliver fast, secure financial management by mobile phone across the world. The platform enables financial institutions, mobile phone networks, service providers, payment companies and processors to offer a wide variety of Mobile Money services in both developed and emerging markets.” The platform offers the following products: * Monitise Mobile Wallet – setting up a virtual wallet on a mobile handset to enable mobile payments and commerce for people without bank accounts, and managing the associated agent networks * Monitise Mobile Payments and…

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Tags: mobile, mobile banking, mobile money, mobile Pay, mobile payment, Mobile Payments, mobile phone, payment, phone, Wallet

New Market Report Now Available: Philippines Telecommunications Report Q2 2010

mobile news — Wed, 10 Mar 2010 09:38:51 +0000

New Fixed Networks research report from Business Monitor International is now available from Fast Market Research – With a estimated 73.544mn mobile subscribers in the Philippines market at the end of June 2009, penetration rates in the country had reached 80.5%, which was up from 76% in 2008.

In contrast 2008 reported a 12.41 percentage point increase in its penetration rate, so that growth in the mobile sector appears to be slowing down. Indeed, during Q209, there were just 1.68mn net additions. This was significantly lower than the 3.808mn reported in the previous quarter, and compared to 3.829mn net additions in Q208. The slowdown in mobile subscriber growth was due to Globe Telecom, which had begun to discount inactive subscribers from its base in Q209, following its 120-day rule.

This led to the operator removing 713,000 subscribers to reach 25.024mn and led to a reduced market share of 24.18%, down from 25% in the previous year. Aggressive promotional activity, and with all three major operators – Smart Communications, Globe Telecom and Sun Cellular – offering unlimited tariffs, has essentially led to a significant proportion of the market base being inactive.

By dismissing inactive subscribers from their customer bases, this allows operators to recycle old phone numbers and allows for new customers to join their networks. For the most part, new growth is being found in rural areas, where improvements in network coverage are required. That said, with rural customers subscribing to prepaid services and therefore spending less than a postpaid user, this has had a negative impact on ARPUs. According to BMI forecasts, after reporting a market average of PHP175.1 in 2008, following a decline of 13.7% in the year, we expect that 2009 will suffer a further fall of 23.4%, before reaching PHP134.1.

The growth of 3G, which would see customers access a number of non-voice applications, should surely lead to an improvement in ARPUs. However, given that prepaid growth is set to continue – accounting for 85% of the total in Q209 – we would expect to see falls in ARPU but at a slower rate so that, by 2014, the market average will be PHP97.8. There is also a growing focus on the broadband market, and in particular wireless broadband, which will allow rural communities greater access. One such application, offered over mobile broadband, is mobile banking, with PLDT said to have over 1mn subscribers through its numerous agreements with banks. Operators are also looking to bring third party agents on board and by expanding mobile banking through the use of third-party agents such as convenience stores. An improvement to broadband is expected to help strengthen the country’s economy, particularly as it looks to international markets, with a focus on its call centre industry.

Tags: application, Market Report, mobile, mobile banking, Philippines Telecommunications Report, phone

Mobile Commerce Replaces Wallet

mobile news — Tue, 23 Feb 2010 13:33:13 +0000

Mobile commerce (m-commerce) is basically an extension of e-commerce on the mobile phone which enables consumers to make payments for goods and services directly from their mobile phones. This gives the consumer the benefit of making payments from anywhere without the hassle of physically being present at a store, standing in a line or turning on a PC to transact online.

m-commerce replaces wallet
An m-commerce consumer has the flexibility to use the mobile phone as a replacement to a wallet and make payments at a physical location, online or even remotely. Users can buy movie and flight tickets, pay utility bills, recharge their prepaid mobile balances, book hotels and cars, send gift vouchers and even donate to charity directly from their mobile phones thereby eliminating the process of using credit cards for online shopping, thus making the transaction far more secure.

The payments can be made by authenticating payments through mobile services providers using the mobile phone via SMS, GPRS, BREW and IVR.

The only difference between e-commerce and m-commerce is that while e-commerce is limited to PC users with an internet connection, m-commerce can use technologies as simple as SMS and IVR among other things therefore being available to the entire mobile carrying population. With mobile penetration at 10 times of the PC penetration, and expected to become one billion by 2012, it won’t be long before India will become a very large player in the m-commerce space — explaining why many people see m-commerce akin to e-commerce on steroids!

Easy payments
The main benefit is the convenience of making a payment from anywhere in addition to providing an additional layer of security over existing banking instruments. The mobile payment solution not only provides a comprehensive platform with a vast ecosystem of online and physical merchants, travel and entertainment verticals, billers and banks accessible from any handset or operator, it ensures utmost simplicity while factoring in high security standards across the entire transaction life-cycle.

Secure transactions
Security is a major issue addressed by m-commerce as its service provides complete security in transactions — PCI DSS 1.2, PA-DSS and Union government’s Cert-IN certified. These are the most stringent security standards adopted by the global payments industry. Mobile transactions through the service providers add an additional layer of security enabling a customer to make a purchase without ever revealing any sensitive information.

Every transaction is authorised with a four digit PIN which is punched into the customer’s mobile phone over an automatic, secure IVR call-back and there is no manual intervention whatsoever. This process ensures that there is complete control and security and practically eliminating the chances for frauds. Even if the mobile were to get stolen there is so no way that one can misuse the account without the PIN.

RBI hikes transaction limit
A year from its issue of a set of guidelines for mobile banking transactions, the RBI has provided a fertile environment for mobile payments by revising the guidelines and raising the transaction limit to Rs 50,000 per day for purchase of goods and services from the earlier cap of Rs 10,000. To facilitate the use of mobile phones for remittances of cash, RBI has even allowed banks to provide fund transfer services from the accounts of their customers for delivery in cash to the recipients.

Easy fund transfer
The disbursal of funds to receiver can be facilitated at automated teller machines (ATMs) or through business correspondents appointed as agents by the banks. The maximum value of such transfers is capped at Rs 5,000 per transaction and customers can remit a maximum of Rs 25,000 per month through this service.

The new guidelines mean that the process of P2P money transfer will become even faster and easier. As the receiver no longer needs to have a bank account as a pre-requisite, he or she can simply collect cash at the nearest bank or business correspondent. This opens the market up in terms of the number of people you can transfer money to in an instant as one is no longer limited to intra-bank transfers.

The mobile payment solutions provider has always been an advocate of using the SMS as the transaction authorisation protocol for all financial transactions over the mobile. On the financial inclusion side, if we go strictly by Dr Raghu Raman’s recommendations of creating a National Electronic Financial Inclusion System (NEFIS), then the backbone of such a system would be in its ability to carry out small value transactions (Rs 100) at limited transaction cost (sub Rs 1). And, the only way that can be done on a mass acceptable basis is via SMS, which is the single most pervasive feature in the mobile technology revolution, cutting across all SECs, geographies, handset vendors, MNOs, etc.

Tags: mobile, mobile banking, Mobile Commerce, mobile Pay, mobile payment, Mobile Payments, mobile phone, mobile phones, payment, payment solution, phone, Wallet

Nokia Money to go commercial in Q1 2010

mobile news — Fri, 13 Nov 2009 10:05:57 +0000

Nokia Money – Nokia’s mobile banking and payment service is expected to be commercially available in its first market in Q1 2010, although the Finnish handset manufacturer is unable to divulge any details about the location as yet.

Nokia Money is one of the services that the Finnish group hopes will help extend its remit beyond mere devices. Indeed, the company said its target is to have 300 million active users of its services by the end of 2011; the number is expected to be 80 million by the end of 2009.

Teppo Paavola, vice president, general manager of mobile financial services said the service will enable people without bank accounts in emerging markets to transfer money, top up prepaid mobile services, pay bills, carry out online transactions, and pay merchants. Citing figures from Strategy Analytics, Paavola said the global mobile payments market is expected to be worth €18 billion by 2014 – €12 billion from emerging markets and €6 billion from developed markets. (source)

Tags: mobile, mobile banking, mobile Pay, mobile payment, Mobile Payments, Nokia, Nokia Money, payment

Mobile Payment, Mobile News, Mobile Remittance, Mobile Solutions, Mobile Technology, Mobile Coupons » mobile banking

Headline News – October 20, 2010

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