Category: Money


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.

Visa m-wallet to launch in autumn

Financial services firm Visa Europe has said it will launch the V.me digital wallet on a controlled basis in the UK, France and Spain in the autumn of 2012.

A land of opportunity

Mobile payments is an enormous market opportunity but the landscape is still very fragmented. Jim O’Loughlin VP Sales of the Applications Business Unit at NewNet explains what’s to play for.

O2 Wallet is “comprehensive m-payments service”

The O2 Wallet is the most comprehensive mobile payments service launched to date by an operator in Western markets. And interestingly, although the service is packed full of cool capabilities, such as text-based money transfers, price comparisons and offers, it is not yet enabled for contactless payments. Unlike other players in the nascent mobile payments market, O2 hasn’t chosen to make NFC (near-field communication) the focus of its mobile wallet’s appeal – not like Google Wallet or Quick Tap, the NFC m-wallet service launched last year by rival UK operator Orange. O2 is waiting until NFC handsets and payment terminals are more widely deployed to switch on that capability – but is not banking on it for the success of the wallet.

O2UK launches mobile wallet service

Telefónica subsidiary O2 has become the first operator in the UK market to launch a mobile wallet offering. The service offers price comparison for online shopping, person to person money transfer and allows the user to digitise cards linked to existing bank accounts, or load money onto an O2 stored value account.

Mobile payments to be worth $1tn by 2015

The global value of mobile payments is set to reach close to $1tn (£591bn) worldwide by 2015. The driver will be consumer demand for devices with NFC technology, which are expected to instigate a 97 per cent growth per year, over the next three years, according to a report by KPMG.

Zong founder takes helm of Paypal

Online payment giant Paypal has named entrepreneur and founder of Zong, David Marcus, as its president. Marcus had held the position of VP of mobile since the acquisition of Zong last year.

Monitise aims to be “world’s largest” m-money player with acquisition

UK mobile payment technology and services provider Monitise has announced plans to acquire US based counterpart Clairmail, in a bid to create the “world’s largest pure-play mobile money company”. Monitise will pay a sum of $173m for the acquisition, which is conditional upon US regulatory and shareholder approvals, and the firm expects the acquisition to be completed before the end of the financial year 2012.

PayPal launches mobile payment device

PayPal has launched a mobile payment solution allowing small businesses to process a wide variety of types of transaction. The solution, called PayPal Here, allows businesses to accept payments by swiping cards with a fully encrypted thumb-sized card reader, use a phone camera to scan and process cards and cheques and also allows businesses to invoice directly from the PayPal mobile app.

Swedish operators to replicate m-payment strategy in Norway, Denmark

Swedish operators Telia, Telenor, Tele2 and 3 are planning to replicate their 4T mobile payment joint venture in Norway and Denmark, where some or all of them are present in the market. Swedish firm 4T was created in November last year and is 25 per cent owned by each operator.

Telefonica invests in m-payment venture

The Digital arm of Spain-based carrier Telefónica clearly sees opportunity in the mobile payments space, on Thursday announcing investment in, and a strategic agreement with, m-payment firm Boku.

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.

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