Mobile Payment Magazine

Mobile Banking & Payments for Emerging Asia Summit: Oct. 8-9, 2012 – Conrad Bali, Indonesia

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Clariden Global presents the inaugural Mobile Banking & Payments for Emerging Asia Summit to discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation & adoption while managing regulatory & interoperability barriers.

This 2012 event will discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation & adoption while managing regulatory & interoperability barriers in the drive to provide anytime, anywhere banking services to the emerging Asian population.

The Mobile Banking & Payments for Emerging Asia Summit 2012 brings together Asia’s mobile banking & payments stakeholders to discuss the roles of m-banking and m-payments for emerging Asian markets, how industry stakeholders can move towards enabling implementation and manage regulatory & interoperability barriers, in order to penetrate the emerging markets in Asia.

Key Highlights for the conference:

  • 3 Day Dedicated Mobile Banking & Payments Summit
  • 5+ Key Emerging Market Case Studies: Indonesia, Philippines, India, Pakistan, Bangladesh, Kenya
  • 18+ Mobile Banking and Payments Ecosystem Frontrunners
  • 20+ Solutions Driven Presentations for Mobile Channel Stakeholders
  • 24+ Hours of Professional Learning & Networking Opportunities
  • 2 Industry Practitioner Led Workshops to Maximize Your Mobile Banking & Payments Deployments in Emerging Asian

More information: Clariden Global.

Smartphone Banking Security: mBanking Susceptible to Consumer Fears

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According to Research and Markets, mobile banking adoption has stagnated despite explosive growth in smartphone adoption from 2009 to 2011, and the company attributes the slowdown to consumer fears over mobile banking security.

In 2009, one in four smartphone owners considered mobile banking unsafe. One year later, 40% of smartphone owners felt the same way. As financial institutions push forward, offering innovative and convenient financial options to a new mobile generation, consumers are left questioning whether security was sacrificed in the rush toward innovation.

In the context of the recent infiltration of malware into the Android Market, the company notes that it is imperative that FIs reassure consumers that mobile security is a priority.

Research and Markets  has announced the release of a new  Javelin Strategy & Research report entitled “Smartphone Banking Security: Mobile Banking Utilization Stalls On Consumer Fears.”

Primary questions covered:

  • What is the rate of smartphone adoption?
  • What is the growth rate of mobile banking and purchasing?
  • What are some factors that are inhibiting the adoption of mobile financial activities?
  • How can FIs encourage mobile financial activity?

Companies Mentioned:

  • Apple
  • Bank of America
  • BB&T Bank
  • Chase
  • Citibank
  • Citizens
  • Fifth Third Bank
  • Google
  • HSBC
  • IBM
  • Key Bank
  • Microsoft
  • PNC
  • Regions
  • RIM
  • SunTrust
  • TD Bank
  • US Bank
  • USAA
  • Wachovia
  • Wells Fargo

More information: Smartphone Banking Security: Mobile Banking Utilization Stalls On Consumer Fears

 

Source: Business Wire

BNP Paribas and Orange Partner to Launch First Entirely Mobile Bank

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BNP Paribas and Orange have formed a partnership and signed a trademark licence agreement to launch innovative mobile banking services in November 2011.

This strategic business partnership allows the groups to share expertise in their respective areas of excellence. It brings together the world of information and communication technologies and the world of banking.

Starting in November, BNP Paribas customer advisors will be able to offer mobile banking services – unique in France – in all 2,250 branches (also available through Internet banking). Customers will be able to access the most innovative m-banking and m-payment services to manage their accounts and make payments using their mobile phones. The aim is to equip thousands of BNP Paribas customers with smartphones over a three-year period to combine the very best mobile services and banking services.

Innovation is a key factor of differentiation for the banking industry. As part of its Internet and Mobile acceleration programme, BNP Paribas was the first bank to be on the iPad in May 2010. It also created ‘La Net Agence’ – the first completely on line branch, which now has over 12,000 customers. 2 Opéra, the BNP Paribas Concept Store, opened its doors in December 2010 and each month over 300,000 customers do their banking using their mobile phones. BNP Paribas was one of the first banks to offer contactless mobile payments services in Nice in June 2010 and has further invested in order to extend this pilot to other large French cities.

Orange wants to combine partner services, which in addition to their specific benefits are from well known and recognised brand, with it mobile telephone offers. This partnership is in line with Orange’s ambition to develop new innovative services. The launch of the Citzy Pass in the spring of 2010 in Nice to develop new near field communication technologies (NFC) is also part of this approach.

When signing this partnership deal on 25 July, François Villeroy de Galhau, Head of Retail Banking in France, said: “Thanks to this partnership we are promoting new uses and we are creating a new way of managing bank transactions. Orange’s expertise means that we can offer all our customers mobile banking and as a result of this inclusive and innovative offer, BNP Paribas has now become the first mobile bank in France”.

“For Orange, this partnership is an opportunity to explore new territories and to continue offering our customers more and more innovative services. It relies on Orange’s and BNP Paribas’ expertise to propose the best of both our worlds” explained Delphine Ernotte, Executive Vice President of Orange France.

via News – BNP Paribas and Orange partner to launch the first entirely mobile bank… | BNP Paribas Bank.

Fi-Mobile Launches New Banking App Platform

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Fi-Mobile Inc. has announced the release of UniFI, a new mobile banking application platform that allows financial institutions to deliver and manage a branded mobile presence.

Designed to help credit unions and banks deliver a unified mobile banking experience to account holders and members, UniFI provides instant access to critical financial services and information so that customers can do their banking on the iPad, iPhone, Android, Blackberry devices, and any other browser-enabled smart device. [Read more…]

First Data mBanking Solution Adopted by Texas Banks

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American Bank of Texas, Marble Falls, Texas, and Waggoner National Bank, Vernon, Texas, have launched First Data’s Mobile Manager – mBanking solution. The offering is now available to their Internet banking customers following a successful internal pilot period. First Data Corporation is a global leader in electronic commerce and payment processing.

With the First Data Mobile Manager – mBanking solution, financial institutions can rapidly implement mobile banking with robust functionality. This solution integrates seamlessly with First Data’s FundsXpress online banking platform, enabling a consistent experience with the same capabilities as online banking on a mobile device, and only one set of logon credentials to manage.

First Data offers the Mobile Manager – mBanking solution as a fully hosted and integrated service. This results in substantially lower costs for a financial institution than developing a solution in-house. Since launching Mobile Manager – mBanking at the beginning of 2011, First Data has signed 60 financial institutions for the service.

“After piloting this solution internally, we saw firsthand that it had the capabilities our customers are looking for,” said Mark Few, executive vice president, American Bank of Texas. “The implementation was painless – especially considering the complexity of the product – but integration is only the first step. We also feel confident that, because we have chosen First Data for our mobile solution, we will be able to keep pace as the mobile marketplace evolves.”

First Data‘s Mobile Manager – mBanking product enables financial institutions to offer all three modes of mobile banking: SMS, mobile web, and downloadable applications, including a uniquely branded iPhone app available through the App Store online store. First Data plans to roll out the same capabilities for Android phones, with availability in the Android Market during the first half of 2011.

The ability to offer all three modes is key for financial institutions that wish to position themselves for success as mobile banking providers. According to the 2010 Mobile Banking and Smartphone Forecast  from Javelin Strategy & Research, consumers who bank with their mobile phones do so using all three methods, yet fewer than half of the financial institutions researched by Javelin offered all three modes in 2010.

“Partnering with First Data has expanded mFoundry’s reach and made our award-winning mobile banking product accessible to an even larger base of customers,” said Drew Sievers, CEO and co-founder, mFoundry. “This relationship results in a powerful solution that offers robust mobile capabilities without the technological hurdles of implementing them – enabling financial institutions that have more limited development resources to meet the challenge of the marketplace.”

First Data’s Mobile Manager service is part of a comprehensive mobile commerce suite that includes contactless cards solutions and a Trusted Service Manager (TSM) platform.

“Mobile banking is an important stepping stone on the path to full mobile commerce,” said Dom Morea, First Data division manager of Mobile Commerce Solutions. “This powerful combination of technology from mFoundry and First Data, along with our high level of client support, creates a scalable solution that enables our clients of all sizes and charters to join in this evolution.”
Source: First Data

Mobile Phones Leapfrog Traditional Financial Institutions in Developing World

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When a devastating earthquake struck Haiti in January, phones enabled Haitians to withdraw cash at local banks or access account funds to pay for groceries.

The spawning of a “mobile money” market in Haiti illustrates how mobile funds-transfer applications could develop elsewhere. Now card companies and mobile carriers in various parts of the world are coming together to meld the popularity of cell phones with access to financial services.

via Worlds of Differences in Mobile Money Strategy – American Banker Article.

Mobile Banking in Africa

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Mobile operators and industry experts see the mobile payment, also called Mobile Banking, MBanking, M-payment or SMS

Banking, as the future of a cashless society.

The mobile payment works by storing a consumer’s credit or debit card within the SIM card and employing the near-field communication (NFC) technology1 or sending money by text message. Clients can convert cash into electronic money (and vice

versa) through any retail outlets and then use their mobile phone to instantaneously send and receive money wherever they have cell coverage.

via Financial Technology Africa | Will You Pay By Credit Card? No, I Have My Mobile Thanks.