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Mobile phone access reaches three quarters of world population - Business Recorder (blog)

Mobile phone access reaches three quarters of world population - Business Recorder (blog) | Mobility & Financial Services | Scoop.it
Business Recorder (blog)Mobile phone access reaches three quarters of world populationBusiness Recorder (blog)It also examines the vast transformative impact of mobile technology in sectors such as agriculture, health, financial services, and...
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Mobility & Financial Services
Mobile financial services news and trends
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MasterCard, eServGlobal and BICS Create Remittance Joint Venture - WSJ.com

MasterCard, eServGlobal and BICS Create Remittance Joint Venture - WSJ.com | Mobility & Financial Services | Scoop.it

MasterCard (NYSE:MA), eServGlobal (LSE: ESG.L, ASX: ESV.AX) and BICS today announced the formation of HomeSend, a joint venture (JV) which will enable consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets -- regardless of their location or that of the recipient.

The HomeSend JV will leverage the current HomeSend platform, a remittance hub based on eServGlobal technology and developed as part of a strategic partnership between eServGlobal and BICS. The HomeSend platform was first to market in offering international mobile remittances. Today, HomeSend has live deployments in 50 countries and commercial contracts with mobile network operators (MNOs) and money transfer operators (MTOs) that represent more than 1.2 billion subscribers -- the equivalent of one in seven of the world's population -- and 200,000 cash agents respectively.

Katia Hilal's insight:

A great step for HomeSend to become the standard in mobile international remittance. Congratulations to all the team.

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Iliad in takeover talks with Bouygues – report - Mobile World Live

Iliad in takeover talks with Bouygues – report - Mobile World Live | Mobility & Financial Services | Scoop.it
After being beaten in the race by Altice to acquire Vivendi’s SFR, Bouygues Telecom now finds itself the subject of takeover talks by the Iliad Group, according to a local newspaper report.
Katia Hilal's insight:

Bouygues could not stay isolated among the on-going market consolidation in the French telecom landscape. A merger with Illiad/Free would make sense as Free does not have a mobile infrastructure which is where Bouygues' strength lays.

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Kenyan mobile cash transactions hit Sh1.7trn

Kenyan mobile cash transactions hit Sh1.7trn | Mobility & Financial Services | Scoop.it

Kenyans transacted more than Sh1.7 trillion on their mobile phones in the first 11 months of 2013, surpassing the value of the country’s budget this financial year.

This represents a 23.7 per cent increase from Sh1.4 trillion in the same period in 2012.

And this has been attributed to increased uptake of mobile phone financial services due to convenience, ease of use and security.

Katia Hilal's insight:

Kenya continues to be the most successful implementation of Mobile Money and an example to follow. The diversity of services offered, the ease of use and the security level are boosting the usage despite the lack of interoperbility between the different service providers.

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Android 4.4 Kit Kat brings Google Wallet payments without carrier approvals

Android 4.4 Kit Kat brings Google Wallet payments without carrier approvals | Mobility & Financial Services | Scoop.it
Android 4.4 brings a major change to NFC payments that could finally be the kick in the butt that Google Wallet needs.
Katia Hilal's insight:

The discussion now moves from "where should the secure element be?" to "should there ever be one?" Would be interesting to watch the reaction of the GSMA and of device manufacturers. 

 

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The Global Journey from Cash to Cashless

The Global Journey from Cash to Cashless | Mobility & Financial Services | Scoop.it

Even though much of the world's population has access to many different options for making payments without it, cash still persists. As a way of making payment, cash takes time to get at, is riskier to carry, and by some estimates, cash costs society as much as 1.5% of GDP. Electronic payments on the other hand have been proven to boost economic growth, while advancing financial inclusion. It is for these reasons that countries around the world are working to make their payment systems less dependent on cash.

Katia Hilal's insight:

This new global report from MasterCard tracks 33 major economies and measures where they stand from going cashless. The report identifies the key factors that are driving this move and classifies countries in four categories: inception, transitioning, tipping point and nearly Cashless.

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PayPal announces Beacon, a Bluetooth USB dongle that will accept your smartphone as a hands-free payment method - GSMArena Blog

PayPal announces Beacon, a Bluetooth USB dongle that will accept your smartphone as a hands-free payment method - GSMArena Blog | Mobility & Financial Services | Scoop.it
Meet the PayPal Beacon, a USB dongle, powered by Bluetooth Low Energy that will await PayPal customers in participating stores, recognize their PayPal iden
Katia Hilal's insight:

PayPal is now attacking the card and banks industries in their sweet spot: brick and mortar retail shops. The recent news from a coalition of French banks to lauch PayLib, a service competing with PayPal for internet payment, is a fair answer to this move.

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With iBeacon, Apple is going to dump on NFC and embrace the internet of things

With iBeacon, Apple is going to dump on NFC and embrace the internet of things | Mobility & Financial Services | Scoop.it
When iOS 7 is released next week, retailers and other large indoor spaces are going to be able to use a technology called iBeacon to send data over short distances to iPhones. Here’s how it will work.
Katia Hilal's insight:

The use of iBeacon for payments may not be that straight forward. The concept of "card holder present" needs to be supported by evidence like making contact between the user device and the payment terminal. Another complexity is related to the security aspect that has been thoroughly analyzed and standardized for NFC.

This being said, it is always thrilling to see a new type of access emerging, and with it, a whole lot of new usage possibilities.

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Google Wallet ending NFC loyalty and gift card redempetion

Google Wallet ending NFC loyalty and gift card redempetion | Mobility & Financial Services | Scoop.it

Google Wallet users with existing balances on loyalty or gift cards will need to use them soon or lose them. According to AndroidSpin

Katia Hilal's insight:

Is it the lack of NFC enabled phones? Would be interesting to hear more comments on why Google is ending this system.

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Zain Group selects eServGlobal to supply mobile money solutions

Zain Group selects eServGlobal to supply mobile money solutions | Mobility & Financial Services | Scoop.it

- Agreement will enhance Zain’s existing mobile-money offerings and support the roll-out of much needed mobile-commerce services in other markets 
- Customers will be empowered to pay bills, top up accounts, transfer funds and much more from their mobiles - See more at: http://www.zain.com/media-center/press-releases/zain-group-selects-eservglobal-to-supply-mobile-money-solutions/#sthash.oKFbh1ea.dpuf.

Katia Hilal's insight:

This is a major achievement for eServGlobal that consolidates its leadership in the Middle-East and Africa for Mobile Money.

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Ugandans Design Mobile Money Smart Card

Ugandans Design Mobile Money Smart Card | Mobility & Financial Services | Scoop.it

All the customer needs is to be registered for mobile money with any network in Uganda. Then the customer must have the Imara card and money on their phone. Such a customer can pay for goods and services using this card at any of the Imara Points of Sales (PoS).

The card will prompt a pop-up on your phone and ask you to confirm payment. Then you type in your Personal Identification Number (Pin) of mobile money on your phone and money for the good is automatically taken off.

"That's it; your transaction is done there and then," says Jogoo.

Katia Hilal's insight:

A first step before closed loop mobile money implementations go open loop, and connect with the global EMV schemes.

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Why does Kenya lead the world in mobile money?

Why does Kenya lead the world in mobile money? | Mobility & Financial Services | Scoop.it
PAYING for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched...
Katia Hilal's insight:

Some argue that bringing free money into the regulated economy might hinder the entrepreneurial spirit, these need to check-out the following statement:  "One study found that in rural Kenyan households that adopted M-PESA, incomes increased by 5-30%. In addition, the availability of a reliable mobile-payments platform has spawned a host of start-ups in Nairobi, whose business models build on M-PESA’s foundations. ," 

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MasterCard Prepares to Offer PayPass on Embedded Chips in Samsung NFC Phones | NFC Times – Near Field Communication and all contactless technology.

MasterCard Prepares to Offer PayPass on Embedded Chips in Samsung NFC Phones | NFC Times – Near Field Communication and all contactless technology. | Mobility & Financial Services | Scoop.it

MasterCard Worldwide is the latest payment scheme to work with Samsung Electronics, with plans to soon offer its PayPass application for embedded chips in new Samsung NFC phones, NFC Times has learned.

Katia Hilal's insight:

MasterCard's answer to the partnership announced earlier between Visa and Samsung.

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MasterPass digital wallet launches in Canada - PaymentEye

MasterPass digital wallet launches in Canada - PaymentEye | Mobility & Financial Services | Scoop.it

As of launch, merchants including Porter Airlines, WagJag, Jaunt.ca and Grocery Gateway have enabled MasterPass checkout services on their eCommerce websites.  MasterCard plans to expand the number of MasterPass enabled merchants in Canada to 800 merchants by the end of 2013 and 2,800 merchants by the end of 2014. When making purchases through these companies’ eCommerce websites, MasterPass digital services will allow Canadian consumers to securely and complete their transaction, eliminating the burden of filling out card and shipping information repeatedly. 

Katia Hilal's insight:

One of the first deployments of MasterPass and certainly will be a very interesting lab to see how the service will pick-up.

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How mobile money is changing Asia

How mobile money is changing Asia | Mobility & Financial Services | Scoop.it
For emerging Asia, paying your friends, family and retailers from your mobile is set to explode thanks to the region's heavy smartphone usage.
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Katia Hilal's curator insight, May 6, 4:10 AM

"For the unbanked sector, banks are not in a leadership role. This area is being driven primarily by telecoms that have wider coverage in terms of distribution network and better customer relationships with people using their mobile services,"

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International money transfer joint venture, HomeSend, announces CEO and Board | HomeSend JV

International money transfer joint venture, HomeSend, announces CEO and Board | HomeSend JV | Mobility & Financial Services | Scoop.it

HomeSend, the leading mobile remittance hub is officially now a standalone entity with participation from MasterCard, eServGlobal and BICS. This is a fantastic story of how an idea, the right partners, and the appropriate investment, can grow to be the number one market player in this new and growing space.

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What Android's KitKat means for NFC

What Android's KitKat means for NFC | Mobility & Financial Services | Scoop.it
Pundits have focused on carrier end run but missed the upside for merchants, others.
Katia Hilal's insight:

The latest version of Android, KitKat, introduces a new platform for secure NFC transactions without the need for a secure element. This article describes the domino effect that Host Card Emulation will trigger in the NFC industry: Mechants, carriers, scheme providers, device manufacturers, TSMs, etc. are all impacted.

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eBay acquires Braintree for $800M - Mobile World Live

eBay acquires Braintree for $800M - Mobile World Live | Mobility & Financial Services | Scoop.it
Bay has bought payments firm Braintree for $800 million in a move to boost the mobile payment credentials of its PayPal unit.
Katia Hilal's insight:

Certainly a strong signal from eBay showing that mobile is the where the growth is in payments.

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Google hopes for wallet revival with new version - Mobile World Live

Google hopes for wallet revival with new version - Mobile World Live | Mobility & Financial Services | Scoop.it
Google has attempted to beef up its under-performing wallet app with a number of new features including P2P money transactions.
Katia Hilal's insight:

Another revival.

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Les banques françaises lancent un système concurrent de PayPal

Les banques françaises lancent un système concurrent de PayPal | Mobility & Financial Services | Scoop.it
BNP Paribas, la Société générale et La Banque postale lancent PayLib, un service pour régler les achats sur Internet.
Katia Hilal's insight:

Une tentative de contrer l'hégémonie de PayPal sur le marché du paiment sur internet. Après l'échec des différentes initiatives menées soit par des acteurs isolés comme le crédit agricole ou par des opérateurs mobiles, les banques reviennet au premier plan.

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Oberthur Technologies’ contactless payment solution selected by Movistar Chile and Banco Santander Chile - PaymentEye

Oberthur Technologies’ contactless payment solution selected by Movistar Chile and Banco Santander Chile - PaymentEye | Mobility & Financial Services | Scoop.it
Oberthur Technologies has been selected by Movistar Chile, a major mobile operator in Latin America, and Banco Santander Chile, one of the largest retail and commercial banks in Latin America, to be their Trusted Service Manager (TSM) and provide...
Katia Hilal's insight:

NFC proof of concept in Chile with Oberthur Technologies. A good lab to watch the latin american consumers behaviour.

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PayPal pilots face verification for mobile payments in London (Video)

PayPal pilots face verification for mobile payments in London (Video) | Mobility & Financial Services | Scoop.it
Payment giant testing program with 12 merchants initially.
Katia Hilal's insight:

Validation with personal photography, no financial data is sent to the shop or kept on the phone. This is looking quite easy. There still is the hurdle of opening the app on the phone, and having it live while the transaction takes place.

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Facing the inevitable: Mobile and the ATM

Facing the inevitable: Mobile and the ATM | Mobility & Financial Services | Scoop.it

Tom Harper, publisher of ATM Marketplace and Mobile Payments Today, discusses what happens when a ubiquitous technology meets a disruptive upstart.

In the case of the convergence of ATMs and mobile devices, Harper is firmly on the side of those who believe the future lies with a combination of the technologies. He's closely watched the emergence of the technology since first hearing about it some years ago.

Katia Hilal's insight:

One other evidence of the convergence between mobile and financial services. Here the mobile interacts with the ATM as the authentication device to access the financial services for the banked. In other geographies, the ATM becomes the access point for cash-in, cash-out, money transfer or bill payment out of a mobile money account for the unbanked.

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CGAP - A New Wave of E-Money in Latin America

CGAP - A New Wave of E-Money in Latin America | Mobility & Financial Services | Scoop.it
In Latin America, the banking sector is highly rooted in the economy, and to think about non-bank issued electronic money is almost heretic. But things are changing.
Katia Hilal's insight:

New regulatory frameworks are emerging to allow financial inclusion by making mobile money accessible to the non banks, not only telcos are concerned but payment aggregators and agent network managers are jumping on this opportunity to monetize the value of their significant footprint and cash management infrastructure.

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A History Lesson for Advancing Interoperability in Mobile Money

A History Lesson for Advancing Interoperability in Mobile Money | Mobility & Financial Services | Scoop.it
What can we learn from the past in markets like the United States and Japan that can help advance interoperability between financial service providers?
Katia Hilal's insight:

Lessons about how interoperability can boost the take off of B2C and C2C services are numerous. The report discusses some in the banking and payment industries but roaming and SMS interoperability are also examples of tremendous boosters for mobile services.

It is evident to anyone that this will be future. So how long will the dominant mobile money players keep their garden's fences?

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Google Wallet kills plans for a plastic card

Google Wallet kills plans for a plastic card | Mobility & Financial Services | Scoop.it
Following the departure of its chief, Google Wallet drops plans to introduce a branded card.
Katia Hilal's insight:

The plastic card became part of the Google Wallet strategy last year when the product moved away from a strictly NFC-based wallet to a more cloud-based approach

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