Category: Money

UK mobile banking use forecast to double

The number of UK mobile banking users is set to almost double from 17.8 million to 32.6 million by 2020, according to a new report commissioned by Fiserv, writes Banking Technology. Online banking is still growing too, the research found.

Facebook introduces IM money transfers

Social media giant Facebook is the latest company to jump on the mobile commerce bandwagon with the introduction of the ability to transfer money via its Messenger IM tool.

Amdocs and Strex push SMS payments

SMS seems so last decade, but often the simplest technologies provide the easiest solutions. Amdocs has partnered with Norwegian SMS payments outfit Strex to promote this technology and see the rise of mobile wallets from the likes of Apple, Google and Samsung as complementary.

Mobile industry generated $3.3 trillion in 2014 – report

Analyst firm Boston Consulting reckons the mobile technologies industry was responsible for almost $3.3 trillion in revenues last year, and is responsible for 11 million jobs. However the study commissioned by Qualcomm also came to the conclusion that the challenges face by mobile players will require investment of $4 trillion over the next five years.

Millicom makes mobile money move

Telecoms company Millicom has stepped up its push to gain ground for its mobile money service in the east African country of Tanzania, home to 47 million people, as competition heats up between operators seeking to pounce on the boom of mobile money in three African nations.

EE NFC handsets compatible with London buses

UK carrier EE this week enabled its own flavour of NFC, dubbed Cash on Tap, for London’s bus network, allowing customers to use their phone in lieu of an Oyster card or contactless debit card. Users will need an EE handset and an NFC-capable SIM.

US mobile payment firm LoopPay wins Visa funding

Mobile payments provider LoopPay has secured funding from global payments firm Visa, the company has revealed, without saying how much is involved. The US company, which launched earlier this year, is pioneering a technology that capitalises on the installed based of magnetic stripe-reader point-of-sale systems rather than NFC, which is the current favourite in mobile payment circles.

Twitter builds commerce model with CardSpring buy

Social network Twitter has acquired payments infrastructure firm CardSpring for an undisclosed sum. The San Francisco-based startup develops a web service API that makes it easy for payment companies and point-of-sale vendors to work with developers to create card-linked services.

Deutsche Telekom launches mobile wallet

German operator group Deutsche Telekom has launched a mobile wallet service in its domestic market. The operator also plans to extend the offering to further markets; to Slovakia in mid-May and in Hungary later this year.

Mobile money users reach 61 million

The number of active mobile money users has grown to 61 million in June 2013 from 37 million a year earlier, according to trade body the GSMA.

Vodafone launches MoneyGram to M-Pesa money transfer service

Operator group Vodafone has joined forces with global money transfer and payment services firm MoneyGram to enable customers in over 200 countries to send money to M-Pesa users. The two will initially launch in a few key markets in 2Q14 and plan to roll out the service to further markets during the remainder of the year.

AT&T launches payment services for businesses

US operator AT&T has launched two solutions to allow businesses to process payments using a mobile device. The operator teamed up with payment processing services provider Vantiv to develop the solutions, which it says offer a highly secure and swift method to process transactions.

O2 discards unattractive wallet

UK operator O2 has revealed that its O2 Wallet service, which closed last week, was a casualty of the pace of development in the fast moving mobile payments space.

Warid Telecom intros mobile money service in Pakistan

Pakistani operator Warid Telecom has teamed up with Bank Alfalah to launch a mobile money service. The service, Mobile Paisa, will initially enable users to make utility bill payments and secure money transfers across Pakistan. The operator said that it plans introduce further services in the near future.

MasterCard takes controlling stake in mobile remittance service

Payment provider MasterCard has teamed up with mobile payment solutions providers eServGlobal and BICS to extend the capabilities of their international mobile remittance platform HomeSend. The three firms have set up a joint venture which uses the HomeSend platform, in which MasterCard will have a controlling share.

Turkcell inks mobile wallet deal with Garanti Bank

Turkish mobile operator Turkcell and the country’s Garanti Bank and have partnered with Visa Europe in a deal aimed at bringing the Turkcell mobile wallet to more consumers in Turkey.

Vodafone to launch NFC payment service in Europe

Operator group Vodafone has announced an NFC mobile payment service in Spain. The group plans to launch the service at the end of November, with launches in Germany, the Netherlands and the UK to follow.

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