Telecel Zimbabwe launches mobile banking
Cellular network operator Telecel Zimbabwe has launched a mobile banking service enabling customers to use their handsets to make money transactions at partner banks, supermarkets or post offices.
Users will be able to set up virtual bank accounts to withdraw, deposit, transfer and send money, make online purchases and make balance enquiries.
President Zardari inaugurates mobile banking service (Pakistan)
President Asif Ali Zardari has inaugurated a mobile banking service named after chairperson of the Pakistan Peoples Party Benazir Bhutto.
Declaring to establish new industrial zones across the country, he stated that they would enable thousands of people to get jobs.
According to Zardari, he would continue to serve the masses without giving a second thought to political actors. Eliminating poverty is their duty. It would also help promote e-banking, besides providing women protection and rescue facility. He promised to protect women’s rights and cash grants would empower women.
He added that users will be able to register complaints against police officials or people committing any excess.
Orange launches mobile banking service (Kenya)
Telkom Kenya has joined the bloom battle for control of mobile money with the launch of a mobile money service which will allow users to manage accounts held at Kenya’s Equity Bank from their handsets.
The prospective users of the new product known as Orange Money can request bank loans, make interbank money transfers, withdraw or send cash and pay bills all using their handsets.
According to the Equity’s Chief Executive James Mwangi, you now have your bank in your pocket. That is how easy banking is going to become.
Telkom Kenya, which retails as Orange, and controlled by France Telecom’s Orange, lags market leader Safaricom, which has the popular M-Pesa transfer service, and another by the local subsidiary of India’s Bharti Airtel.
As per the statements by the two companies, the service is mapped onto the customers’ bank accounts, making it possible for the customers to literally run their accounts from their mobile handsets, with the accounts’ security aligned to that of the bank.
Money transfer services, especially M-Pesa, are hugely popular in Kenya and have transformed how money moves around.
Many Kenyans who did not hold bank accounts can now access basic banking services from their handsets.
Zain brings mobile banking to over 100 million East Africans
- Manage their bank accounts
- Pay for goods and services and settle their utility bills
- Receive Zap money – and send Zap money to their friends and family
- Top up their airtime account – or top up someone else’s
- Check their balance and keep on top of their payments
Cingular to Launch Mobile Banking Service
Cingular Wireless and Firethorn announced plans today to provide Cingular subscribers with mobile banking access in the very near future. Subscribers will have the ability to view balances, transfer funds and pay bills all from their Cingular handset. Security is a key feature of the new Firethorn application which will allow for clearing of handheld content if the phone is lost or stolen.
It is the right time for the wireless industry to begin moving ahead with mobile banking. Two-thirds of America’s 300 million people now use wireless phones and nearly 60 percent of wireless customers use their handsets for something other than making calls. It is only natural that we move the ease, convenience and efficiency of electronic banking onto the wireless device. With the simplicity of its single pathway, Firethorn will make it easy for Cingular to work with financial institutions who want to deliver mobile banking services to our customers.
Currently being trialed, Firethorn anticipates an initial commercial launch of its mobile banking and payments application in early 2007.
For Best Practices/ Case Studies on Mobile Money – Banking, Remittances, Commerce & Payments. Please contact Christina@WirelessFederation.com
