First National Bank will be launching its own mobile service as of the 15 June 2015, as an extension to its FNB Connect offering, a pioneering feat for the South African banking industry. A plan for aggressive rates and exceptional banking services to its clients is high on the list of priorities fo
Despite being available in the UK since 2011, NFC mobile payments – in which you wave your mobile phone above a terminal to pay for something – are still something of a mystery to most of us. Well, we’re here to shed some light on the subject: here’s what’s available now and what’s coming soon in the world of contactless mobile payments. But first, let's bust a couple of myths about NFC mobile payment.
Thanks to big moves from Apple, Samsung, Google and others, the world of mobile payments is rapidly evolving. More retailers accept digital payments than ever before and these 11 tech companies — as well as the world’s most famous coffee chain — are leading the charge.
Competing effectively in the Belgian private wealth market means appealing to and building loyalty among the aspiring affluent, much like ING, which effectively transitions clients from personal banking to private banking as their assets grow.
ING and other private banks that are part of universal banking groups dominate the Belgian wealth management market. ING has reported that it has assets under management (AUM) of €6.8bn in Belgium, meaning that it holds a top three position in the Belgian wealth market. The bank’s success lies in the way that it operates a graduating service proposition in conjunction with tailoring services to appeal to the mass affluent. Its ultimate aim is to build customer loyalty to ensure that if its mass affluent clients do increase their assets, they will choose ING’s private bank over its competitors.
Within ING the mass affluent are catered for by ING Personal Banking, a service for which clients must have €125,000 in liquid wealth to be applicable. Clients can progress into Private Banking when they have approximately €1m in liquid assets. This graduated service proposition is an effective means of onboarding Belgian affluent clients before they are considered to be high net worth.
The range of services available through ING has led to a large segment of affluent individuals choosing to manage their wealth through ING’s Personal Banking channel. ING Personal Banking covers transactional banking needs alongside initiating the wealth relationship through the offer of investment advice and products, as well as planning services for inheritance and retirement. The combination of providing services tailored to clients with growing AUM and effectively graduating clients to more premium services has meant that ING has been able to leverage its large retail base, making it one of the more successful private banks in Belgium.
You’ve decided to buy a new pair of shoes, and you’re going to pay for them by tapping your smartphone against the checkout stand. It’s just like using your credit card — except that it isn’t. Here’s what’s really happening to the money on your phone, when you spend it and when you are just carrying it around.
Indue’s Executive Manager – Payments Michael Swannell, breaks down the NPP and what opportunities lie ahead. The New Payments Platform (NPP) is a major banking industry initiative developing new infrastructure for Australian payments.
MTN Mobile Money customers with accounts in Bank of Africa (BOA) Uganda can now deposit and withdraw cash from their bank accounts to their Mobile Money accounts. This service from these two partner institutions guarantees
Lancée en juin 2010 (pour la version iOS), L’Appli de la Société Générale a été la première à proposer la « jauge », une fonction permettant de visualiser le solde du compte, sans connexion et authentification par le client. Fonction qui a été ensuite reprise par BNP Paribas ou Hello Bank via la « météo du compte ».
“IN the next three to five years the vast majority of our transactions will be performed on smart-mobile devices.” Retail banking is experiencing a seismic shift in customer behaviour thanks to the digital revolution that continues to effect fundamental changes in the way businesses and individuals transact. Nowhere is this metamorphosis in customer behaviour more profound than in Africa.
New mobile payment platforms can provide a foundation for financial inclusion in South Africa and beyond, says David Abbott of Fiserv, a leading global provider of financial services technology solutions. But who will build the robust ecosystem required to fulfil their potential?
VENTURES AFRICA – The growing use of banking services in South Africa is driven by a national rollout of social security debit cards and strong economic growth across finance, real estate and business services sectors. According to the Banking Association of South Africa, just under a quarter of the adult population (23.5 percent) remains unbanked.
The rapid adoption of feature phones, smartphones and online technology has positive implications for financial inclusion policies and growth of payment electronification. It is also providing new, highly-convenient ways for consumers to pay themselves (through deposits and transfers), other people, bills and retailers. What could a mobile banking revolution mean for South Africa in particular?
Bringing contactless mobile payments to bricks-and-mortar stores continues to be a challenging process plagued with technology difficulties, inexperienced store associates and an evolving landscape.
Enabling in-store mobile payments at scale is viewed as a key goal but one that has proven to be elusive over the past few years for a variety of reasons. The latest setbacks include reports of Apple Pay not working at Home Depot stores, Best Buy switching allegiance from MCX to Apple Pay as well as the departure of MCX CEO Dekkers Davidson.
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