Facebook financial foray flops face first
Facebook has killed a feature which allowed users to pay connections through its Messenger app due to a lack of uptake.
Facebook has killed a feature which allowed users to pay connections through its Messenger app due to a lack of uptake.
At its recent annual technology showcase Orange offered some interesting hints towards a long-term strategy to create a single household bill for customer.
It’s been a secret which was never really a secret, but Orange has finally taken the plunge, meandering into the world of mobile finance.
The major new initiative to bring mobile banking to the whole of India is backed by around $440 million of investment and government endorsement.
Orange has taken an alternative route to combating the profitability challenge endemic to the telecoms industry – it started a bank.
UK bank HSBC is allowing new business banking customers to open an account entirely through its smartphone app, allowing it so make constant references to selfies.
The Competition and Markets Authority (CMA) has released the final report from its retail banking market investigation enforcing widespread technological upgrades in some of the industry’s more traditional institutions.
British Bankers Association (BBA) says digital banking is in a “consumer-led revolution”. Its latest report – Way We Bank Now – shows a drastic increase in consumers using digital channels to manage their money – reports Banking Technology.
Telefónica Germany, in association with Fidor Bank, will be launching its mobile banking offering, “O2 Banking”, in Germany in late summer 2016 – writes Banking Technology.
Orange has made a significant stride in mobile banking by acquiring a majority stake in financial services firm Groupama.
Security specialist Gemalto claims it has cleared a major blockage for mobile banking, as Mexican bank BBVA Bancomer enrolled 100, 000 subscribers thanks to the security firm’s new verification system.
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.
Analyst firm Juniper Research reckons more people will be using mobile apps for banking than web-based options by 2019, as the 800 million people who used their phones for banking more than doubles to 1.75 billion in five years.
Fewer than one in four of UK consumers would use their smartphone like a credit card to make payments even if they had the relevant app, according to a new survey carried out by YouGov on behalf of outsourcing firm Firstsource Solutions.
Swedish vendor Ericsson, which recently announced its entry into the mobile financial services space with an enabling technology play, has not ruled out the possibility that it may apply for a licence to operate financial services itself. Currently Ericsson is working with an unnamed player in the financial space, and it is that player’s licence that enables the Ericsson white label offering. But Semir Majoub, president of Ericsson Mobile Money Services, told Telecoms.com that the company may yet look to apply for a licence of its own.
Cameroon mobile operator MTN has launched a mobile money service in partnership with local bank Afriland First Bank. The service enables users to make P2P money transfers and buy airtime. MTN plans to extend the service to pay bills and for goods and services in the future. According to Afriland the banking penetration rate in Cameroon is less than 10 per cent.
Mobile banking services worldwide will be generating 90 billion text messages per annum by 2015, up from 30 billion this year, according to figures released by Juniper Research on Tuesday. The figure equates to one message every two days for each user of mobile banking services, Juniper said.
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.
The world’s leading mobile handset manufacturer, Finland’s Nokia, announced a move into financial services on Wednesday. The new direction for Nokia will see it working with mobile payment specialist Obopay, in which Nokia invested $70m in March this year.
The mobile money transfer market will create an almost $8bn revenue opportunity for mobile operators by 2012, from just over $10m in 2006, according to research released this week. Industry analyst ABI Research said Monday that transferring funds safely and securely using mobile phones has the potential to revolutionise the way people use their money, […]
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