Category: Money

UK smartphone users averse to mobile banking

Just 20 per cent of UK smartphone users have embraced mobile banking services, with fears over the security of personal data chief among the barriers to adoptions, according to a recent survey conducted by YouGov. The survey, initiated by outsourcing firm Firstsource Solutions, also suggested a resistance to mobile wallet services in the UK, with almost 60 per cent of respondents ‘unlikely’ to use such a service.

Apple eyeing mobile payments with AuthenTec deal

Apple has agreed to acquire fingerprint security firm AuthenTec in a deal worth around $356m. AuthenTec’s fingerprint technology has been used in mobile phones in Japan for authentication of mobile payments, and Apple is expected to bring those services to more markets.

NFC retail payments market to be worth $180bn by 2017

The NFC retail payments market will be worth more than $180bn globally by 2017, marking a seven-fold increase over the value of the market in 2012, according to Juniper Research. The firm said that that the North America, Western Europe and Far East regions will contribute 90 per cent of this market value, as smartphones with NFC payment technology become standard in those markets. purchase works out PayPal’s mobile arm

Transaction giant PayPal added another tool to its arsenal for occasional merchants this week with the acquisition of San Francisco startup The firm develops an application that enabled users to capture credit card information using the camera on a smartphone.

Telefonica drives innovation through partnerships

Speaking at an event in London on Thursday, Matthew Key, head of Telefónica Digital since its inception nine months ago, said his unit expects to drive annual revenues of approximately €5bn by 2015 with an annual revenue growth rate of 20 per cent.

Another European carrier goes for the prepaid card option

Deutsche Telekom (DT) has followed in the footsteps of other major European carrier groups in unveiling plans to launch a prepaid card in association with one of the big card-payment networks. The German incumbent – which has 90 million mobile subscribers in Europe through its T-Mobile subsidiary – has partnered with MasterCard to enable payments from a stored-value account linked to both a mobile wallet and a plastic card.

Orange rolls out NFC-SIMs across France

French incumbent Orange has begun offering NFC-enabled SIM cards nationwide in preparation for what it calls the “mass deployment” of mobile contactless services. The UpTeq NFC SIM cards are supplied by Gemalto and, the firms said, are the first SIMs on the market to offer the same security level as chip-based payment or smart cards.

Citi and USAID team up on mobile money

US government agency the US Agency for International Development (USAID) and bank Citi have announced a global partnership to promote the rapid adoption of mobile money technology in developing nations. USAID and Citi said that they will work with governments, donors, industry and other participants in the payments system to support local mobile money platforms, and will contribute over $23m to the cause.

Vodafone takes control of Vouchercloud

UK carrier Vodafone on Wednesday increased its holding in mobile coupon provider Vouchercloud, as the mobile transaction bandwagon continues to roll. The UK-based coupon firm, which uses the smartphone’s GPS system to locate discounting retailers nearest to the customer, also launched in Ireland this week.

AmEx broadens Isis deal; Samsung and Visa to demo NFC at Olympics

Mobile financial services continue to gain momentum as American Express announced that it has added credit cards as a payment mechanism to the Isis mobile wallet venture in the US, while Samsung announced that it will be working with Visa to demonstrate NFC mobile payments at the London Olympics.

Mobile Money turns 10

The mobile financial services community is celebrating the tenth anniversary of mobile money. The first ever mobile financial service was launched in Zambia in 2002. It was launched by Celpay, and powered by Visa-owned Fundamo. The service was the first in a movement that has fundamentally transformed the way unbanked and under-banked people in developing nations use financial services.

Facebook targeting mobile revenue with App Center launch

Facebook has announced that it will shortly launch its App Center, a new portal for its users to discover and rate smartphone apps.. Due to be launched “in the coming weeks”, the App Center will showcase iOS, Android and HTML5 apps. Facebook will use indicators such user rating and engagement to select the apps it feels are of the highest quality.

Telefónica: one for all, or all for one?

There is an interesting parallel between today’s announcement that Telefónica is launching an app-based rich communications play—TU Me—and the unveiling two weeks ago of its O2UK arm’s mobile wallet offering. In both situations, Telefónica is simultaneously leading collaborative efforts along similar lines with the very operators on which it is attempting to steal a march by being quick to market.

State of the Union

US operators AT&T, Verizon and T-Mobile have created mobile wallet joint venture Isis, which is set to launch in the summer of 2012 in Austin, Texas and the Utah state capital, Salt Lake City. Jaymee Johnson, head of marketing for Isis, provides an overview of the group’s activities.


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