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Category: Money

Visa taps in to mobile payments platform

Financial services provider Visa Europe said Wednesday that it intends to take a 15 per cent stake in the Mobile Money Network (MMN) – a joint venture between Monitise, Best Buy Europe and Carphone Warehouse, and telecoms entrepreneur Charles Dunstone (as a private investor).

Ericsson, MTN launch m-wallet

Ericsson and MTN Group have co-launched m-wallet services in the Middle East and African regions, marking the first time an operator has adopted Ericsson’s converged wallet offering.

Gold in the hills for m-payment players

Service revenues or fees from m-commerce transactions are expected to reach $37bn by 2016, bolstered by mobile remote payments for physical goods and services and international mobile money transfers. These two elements together will be worth over $25bn in 2016, accounting for two thirds of the total m-commerce market, according to statistics released this week.

Visa adds NFC devices to m-payment initiative

Payment and banking services provider Visa said Tuesday that it has certified NFC-enabled smartphones from Samsung, LG and RIM for use with its PayWave mobile payments application. The PayWave application is installed on a secure SIM card and allows users to make payments at points of sale using a contactless payment terminal.

Swedish players band together in m-payments move

Sweden’s mobile operators are the latest carriers to band together and form a mobile payments joint venture. Investment amounts have not been revealed, but Telia, Tele2, Telenor and 3 will each own 25 per cent.

Visa launches open platform for mobile money

Payment processor Visa has launched a mobile banking product to serve consumers in developing nations. The company said that its Prepaid Mobile offering will provide an open platform for existing mobile money systems.

Visa invests in m-payments platform

Financial services provider Visa Europe has invested £24.7m in mobile payments platform Monitise, giving the latter a greater European presence. Monitise is also consolidating its position in the US by buying out its partner in its US operation.

New MVNO targets Africans working in UK

A new MVNO has launched in the UK, targeted exclusively at the African migrant community, claiming to be the first player to launch prepaid mobile credit transfer over SMS between the UK and Africa. The service effectively allows African callers to reverse charge calls to the UK.

Google Wallet goes live

Google’s mobile wallet venture has become a commercial reality, although it remains very much in its infancy. A trial was announced in May and, at present, the service is supported only by the Samsung Nexus S 4G (WiMAX) handset on the Sprint network in the US, although the retail side is supported by the MasterCard PayPass network

Ten lessons for m-commerce implementation

While mCommerce implementations are relatively new, successes such as Safaricom in Kenya, paybox in Austria, Compass Bank in the United States, mpass in Germany and others provide a solid set of lessons learned for mobile operators, enterprises and financial institutions.

Verizon taps Payfone for payments network

US carrier Verizon is the latest to jump on the mobile payments bandwagon, announcing on Tuesday a partnership with mobile transaction firm Payfone to bring carrier billing to Verizon Wireless users.

European banks issue guidelines for NFC payments

The European Payments Council (EPC) has released draft guidelines governing the use of Near Field Communications (NFC) technology for mobile payments. The Council, which represents the European banking industry, has also called for stakeholder submissions on the subject, with the deadline for feedback on June 17th this year.

Orange bills for Windows Phone 7 content

France Telecom’s mobile unit, Orange, has integrated Microsoft’s flagship mobile OS with its own billing platform, allowing users of Windows Phone 7 devices to add the cost of content purchased to their mobile phone bill.

Everything Everywhere sees potential in NFC

Everything Everywhere, the parent company of T-Mobile UK and Orange UK, said Thursday it would roll out a commercial contactless mobile payment service by early summer.

Operators ignore SMS at their peril

The humble SMS will remain a significant source of revenues and traffic for mobile operators on a global basis until at least 2015, according to the latest forecasts from Informa Telecoms & Media. Global SMS revenues are forecast to rise to $136.9bn by 2015 from $105.5bn in 2010, as global SMS traffic increases from five trillion messages in 2010 to 8.7 trillion messages in 2015.

Softbank trials contactless payments

Japanese operator Softbank Mobile is set to trial contactless payment technology, having tapped up security firm Gemalto for the project.

Telenor Serbia launches m-payment

Serbian mobile operator, Telenor, has become the first carrier in the country to enable its subscribers to use mobile phones to access their bank accounts and pay for goods and services. The operator is working with corporate and financial group, Erste Bank, and France’s largest retail banking group, Agricole to offer the services.

The mobile commerce revolution

There are several fundamental financial transaction issues faced by 100’s of millions of adults in Africa on a daily basis, ranging from the ordering and payment of goods and services, to the challenges of traditional banking, bill/tax payments, salary withdrawals and international remittances.

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