Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Report: Mobile Payments 2013 – 2017
This report, Mobile Payments 2013-2017 provides analysis and forecasts for the worldwide market for mobile payment services, including mobile wallet services and NFC technology.
Now published in it’s 3rd all-new edition, Mobile Payments offers you detailed analysis of international mobile commerce markets, including the growth of mobile wallet services, the highs and lows of NFC technology and the growth of mobile banking and remittance services. This detailed all-new report includes all the market sizing data and 5 year forecasts you need, plus case studies, country-market assessments, vendor profiles and more. [Read more…]
Mobile Payment Strategies Report: Opportunities & Markets 2011-2015
A new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.
The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]
Monitise
Monitise plc (LSE: MONI.L) is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.
As a British company, Monitise has a global reach. Today, we provide services to more than 300 financial institutions, have more than 15 million users worldwide and have strategic partnerships with Visa Inc., Visa Europe, RBS Group and FIS to develop and deliver Mobile Money services. [Read more…]
Visa Europe Launches Mobile Person-to-Person Payments
Visa Europe today announced the launch of Visa Mobile Person-to-Person payments for making payments via mobile phone.
Announced this morning by Visa Europe Chief Executive Peter Ayliffe in his keynote speech at the EFMA conference in Paris, the new services give Visa Europe’s member banks the tools to respond to growing consumer demand for fast, secure, convenient and innovative ways to make and manage payments using their mobile phones.
“The way we pay is changing, driven by the rapid uptake of new technologies and growing consumer demand for more flexible payments. Today’s announcement is the first in a series of new products and services that Visa Europe will be launching in the coming months to reflect the fundamental shift in consumer behaviour. We are already seeing early adoption of mobile payments, and in the coming months we will see the arrival of mainstream NFC technologies, advanced loyalty and e-commerce services, and ultimately, the launch of a new digital wallet,” said Ayliff.
Visa Mobile Person-to-Person payments allow registered users to transfer funds to any Visa cardholder in Europe from their mobile phone, backed by all the security and expertise of Visa Europe’s industry-leading processing systems. The app makes it easy to send money to an address book contact, to a mobile phone number, or to a specific Visa card number – whether or not the recipient is registered with the service.
At launch Visa Mobile P2P payments will be available through an English-language Android application and will support transfers in a single currency for Visa and V PAY cardholders within Europe. Support for other mobile Operating Systems, multiple currencies and payments to and within non-European countries will be added over following months.
Visa Mobile Person-to-Person Payments was developed by Visa Europe in partnership with Monitise, the first of many services that will be made available through the partnership announced in early 2011.
Monitise Partners with RBS Technology for Mobile Banking and Payment Services
Monitise plc today announced that the company has signed a new partnership agreement with RBS Technology Services to broaden mobile banking and payments services across its banking divisions.
Monitise has strengthened its existing relationship with RBS by entering a new five-year global strategic partnership. Under the terms of the new agreement, RBS will use Monitise’s platform to provide bank-grade and secure mobile apps and services to RBS customers.
According to the company, by further integrating Monitise’s configurable technology platform within the bank, RBS is able to give its customers richer, real-time smartphone services as new devices and operating systems hit the market, while continuing to provide mobile services to any customer that wants them via text message, no matter what phone they have.
The new contract covers all RBS Group divisions including RBS and NatWest UK Retail, Citizens Bank US, Ulster Bank and RBS Global Corporate and Business.
Will Jones, General Manager for Monitise’s RBS partnership, said: “New apps have been developed on the Monitise platform as part of a partnership project with RBS called Quantum Leap. It really does deliver a leap forward in terms of client innovation and convenience, with helpful banking at the heart of these new apps. The integrated technology is fully flexible and lets the bank optimise every app to take advantage of what advanced handsets can do.”
Monitise Group Chief Executive Alastair Lukies said: “As a global provider of mobile money services we have great insights into the varied approaches being taken by banks and financial institutions around the world as they seek to defend and extend their business in this increasing digital and mobile age.”
He added: “RBS has positioned itself perfectly to embrace the mobile money evolution and we are delighted to be playing our part. Mobile, like any banking and payments ecosystem, needs to be easy-to-use, secure and interoperable and RBS are putting their customers first by recognising mobile as a channel in its own right, not just another ‘access point’ for the internet or a call centre. There are 5.5 billion mobile phones globally and organisations that understand and utilise that channel best are going to get closer to their customers.”
Source: Monitise Group
Mobile Banking Markets and Opportunities Report Announced by Research and Markets
Research and Markets has announced the release of a new report, entitled “M-Banking Markets and Opportunities.”
Mobile banking refers to a client-server system that is specifically designed for mobile devices, allowing banking customers to use handheld devices to access their accounts, pay bills, authorize fund transfers, or perform other activities. Like many other m-commerce services, mobile banking services can be challenging and no single company has all the expertise required to develop and deliver compelling services on its own. This report evaluates the mobile banking ecosystem and mobile banking solutions including mobile payments, provides a SWOT analysis for Visa and competitors, analyzes solutions for Visa’s weak points, discusses mobile banking implementation, and evaluates the market, applications, and methods. [Read more…]
Visa Acquires Fundamo for Greater Foothold in Develping Market Mobile Banking
Visa Inc. today announced that it is acquiring Fundamo, a leading platform provider of mobile financial services for mobile network operators and financial institutions in developing economies. It also announced a new, long-term commercial agreement with Monitise plc (LSE: MONI.L), a leading provider of mobile money solutions for financial institutions in more developed geographies. [Read more…]
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