Android gets Mashreq’s mobile banking app (USA, Middle East)
Leading financial institution Mashreq has announced the launch of its Mobile Banking for Google Android devices. Mashreq’s mobile app is also accessible through smartphones and devices such as iPhone, iPad, Blackberry and Java OS Mobile phones.
The mobile banking application is a fully integrated transactional service offering customers to check their accounts’, make payments to Mashreq Credit Cards and transfer funds anywhere in the world through their mobile phones at anytime, from anywhere.
Furthermore, recharge Etisalat, du, Salik and make other bill payments such as DEWA, SEWA, ADDC through its safe, secure and customer friendly interface. Customers using this service enjoy easy access to their bank accounts through their mobile phones 24/7, from any GPRS / 3G / wireless (Wi-Fi) network, anywhere in the world, as per a press release.
Aref Al Ramli, Head of Alternate Channels at Mashreq commented that they are continuously working towards offering various distinctive platforms for customers to carry out their banking transactions. As technology evolves, so does their online banking services. They are proud of their multi-faced Mobile banking system, which is now available across all systems to reach out to further customers extending a hassle free banking service and help them save time.
For iPhone and Android, the app is to be downloaded from AppStore and Google Play (Android Market). Once installed, Mobile Banking app is ready for use completely free of charges from the bank.
Vodafone partners with Visa for Mobile Payment service (UK)
Vodafone and Visa have announced a worldwide partnership to enable consumers to pay for goods and services using their mobile phones instead of coins and banknotes.
According to a report by the company, the companies will work together to develop a Vodafone-branded proposition that will be offered to consumers across Vodafone’s 398 million customer base in more than 30 countries across five continents, enabled by Visa’s outstanding payment network, product suite and brand. The partnership, the largest of its kind between a global payment network and mobile operator, combines the companies’ global reach and expertise to bring Visa payment functionality to consumers around the world.
The new Vodafone mobile payment proposition announced with Visa will be based on the Visa prepaid account and offered to consumers in partnership with Visa Issuers. The service will initially be launched in Germany, the Netherlands, Spain, Turkey, and the UK, starting in the coming financial year. Other countries within Vodafone’s global portfolio will follow.
In addition to the Vodafone-branded stored value account inside the mobile wallet, Vodafone and Visa will work together to enable Visa Issuers for mobile payments globally. The platform will be open to all partners of all relevant industries, including financial institutions, retailers, transport and utility companies to host their services within an innovative new Vodafone mobile wallet.
Vittorio Colao, Group Chief Executive Officer of Vodafone, said that the Vodafone mobile wallet represents the next stage of the smartphone revolution. It offers customers the speed, simplicity and convenience of managing their everyday transactions with a single wave or tap of their smartphone, using innovative and reliable services developed by Vodafone and Visa – technology and providers they can trust. Further, the mobile wallet will be open to any service provider and they are committed to enable all partners to provide their joint customers the richest service portfolio possible.
In developed countries across Europe, North America and Australia, with a mature infrastructure for electronic payments, users of the Vodafone stored value account will be able to make purchases at the-point-of sale using Near Field Communications (NFC) enabled smartphones equipped with Visa payWave for mobile, Visa’s fast and secure mobile payment technology. By simply waving their smartphone in front of a payment terminal, consumers will be able to make simple, every day purchases such as bus and train tickets, newspapers, magazines or a morning coffee. Consumers will also be able to make high value purchases securely using a passcode.
Peter Ayliffe, CEO, Visa Europe, said that their partnershipwith Vodafone represents a huge stride forward for mobile payments. Visa’s future of payments initiative is more than just a promise, these services are real, tangible and coming to the mainstream consumer market in the very near future. Any Visa Issuer across these key markets will be able to work with Visa and Vodafoneto enable mobile payments for their customers, backed by all the security, trust and global acceptance the Visa brand represents.
John Partridge, President, Visa Inc ., claims that the convergence of global payment networks, such as VisaNet, with leading mobile telecommunication networks, such as Vodafone, has the potential to transform the way people pay and get paid the world over. Visa’s relationship with Vodafone will assist financial institutions in both developed and developing countries to offer Visa-quality payments to new and existing account holders.
Etisalat launches mobile money services (Afghanistan)
Etisalat Afghanistan has reportedly launched Telepin Software’s mobile money service titled mHawala. According to reports, Etisalat Afghanistan is the first mobile network operator to offer complete mobile banking services as well as cross-border money transfers in the future.
As per sources, Vincent Kadar, CEO, Telepin has said that they understand transactions better than any general value-added services infrastructure vendor and apply this knowledge to forward-thinking operators such at Etisalat Afghanistan. He added that Etisalat is responding to the needs of its customers, and is delivering a best-in-class mobile money solution that will extend value to its mobile subscribers, merchant networks, and ecosystem partners.
Vodafone launches ‘m-paisa’ mobile money service with HDFC Bank (India)
Vodafone India, a unit of global telecom giant Vodafone Group PLC, has launched mobile money services in India, in collaboration with HDFC Bank. The service titled ‘m-paisa’ will enable customers to perform basic banking transactions on the mobile phone as well as deposit and withdraw cash, at appointed Vodafone m-paisa outlets. According to reports, the service will first be made available in the state of Rajasthan, covering over 2,200 retailers across 320 villages and 54 towns. The service, considered to be the country’s first such financial initiative for financial services via mobile banking was unveiled by Dr. K.C. Chakrabarty, Deputy Governer, Reserve Bank of India (RBI).
According to reports, Mr. Sunil Sood, Director (Business Operations), Vodafone India has said that Vodafone ‘m-paisa’ is a great opportunity for a country like India to improve financial inclusion through mobile banking. It is a pioneering initiative modeled on the lines of Vodafone’s m-pesa product running in three different countries of Africa, offering more than 17 million people, basic financial services, beyond the reach of traditional banking. He added that with Vodafone India’s reach and ability to connect to customers, they expect many million people to come into the banking fold through Vodafone m-paisa in the coming years.
Further, sources claim that Mr. Rahul Bhagat, India Head (Retail Liabilities, Marketing& Direct Banking Channels), HDFC Bank, said that there are 600,000 habitations but only about 89,000 bank branches in the country, making access to banking services difficult in remote areas. With this in mind, the partnership between HDFC Bank and Vodafone India is path-breaking as it leverages the telco’s significant distribution reach and provides customers the security of financial transactions offered by a bank. He added that with HDFC Bank MobileBank Account and Vodafone m-paisa, a user from any segment of the society can open a savings account and transact at a bank-appointed outlet convenient to them, with the same sense of trust and security as if they were in a bank branch.
Orange and BNP Paribas launch m-banking services (France)
Leading telecommunications operator Orange France has reportedly launched the first mobile banking service in the country in collaboration with BNP Paribus. According to reports, the service enables users to manage their accounts as well as make payments through a number of applications using their mobile phones. As per sources the smartphones offer with the service include the Acer Liquid Express, BlackBerry Curve 9360 and Samsung Galaxy Cityzi phones, among others.
Reports reveal that Francois Villeroy de Galhau, head of retail banking, BNP Paribas had said at the time of the agreement that through this partnership they would create a new way of managing bank transactions. Further, Orange’s expertise will enable them to offer all their customers mobile banking making BNP Paribas the first mobile bank in France.
Mobile operators shift focus towards rural markets (Nigeria)
With the increase in saturation of mobile services in urban markets across the world, mobile operators have shifted their focus to towards the relatively untapped rural markets for better business opportunities and a chance at increasing revenues.
According to reports, industry analysts predict Nigeria the largest mobile market in the continent, to be home to over 90 million subscribers by this year end. Further, improvements in broadband connectivity along with the emergence of new generation smartphones are expected to drive mobile data growth in the economy.
In most rural economies, the lack of adequate infrastructure has been a grave cause of concern for mobile operators as it reduces their profits and drives up costs for customers. Currently, industry reports suggest that a fully functioning network grid could help operators cut their mobile tariffs by 50 percent, which is higher than those being offered in developed countries.
Changes have been observed in the investment environment as well. With operators offering discounted services to low income users in order to expand their reach, the ARPU (Average Revenue Per User) has witnessed a decline. Bharti Airtel, which had acquired Africa’s Zain, slashed its prices by significant amounts in a bid to increase its market share, which increased the pressure across the industry. Further, sources reveal that Etisalat (Saudi Arabia) and Globacom have also been increasingly gaining customers, giving strong competition to market leader MTN.
The next big thing in the economy is being considered to be mobile banking services. With a large portion of the population being unbanked but gaining access to mobile devices, more and more consumers are using their phone to transfer money and pay for goods, in a more convenient and secure manner.
Airtel Money to enhance mobile banking services for Airtel customers (Ghana)
Airtel Ghana has launched Airtel Money, allowing customers to use their mobile handset in place of their wallet. As per reports, Mr Luck Ochieng, Sales Director, Airtel Ghana has said that this innovative mobile service would help customers to overcome many challenges that they go through when transacting business in their daily lives. He added that the company’s objective was to make communications, banking, payments, retail, and infotainment affordable and accessible to all in Africa, especially in Ghana through Air Money. He said the company had enhanced public safety by initiating a ‘cashless society’ where one could make direct purchases with e-money instead of the actual exchange of cash from one source to another.
Mr. Emmanuel Kola, Head of Airtel Money, has reportedly said that the service was in partnership with Ecobank, Standard Chartered Bank and Zenith Bank and assured customers their money would be safe through that facility. He added that after successful registration, a customer could access the service with their pin numbers with which they could access their bank accounts. This service also allows users to transfer money from the phone to their bank account and vice versa.
America Movil and Citigroup to launch mobile banking services (Latin America)
America Movil, Mexico based wireless service provider, has reportedly entered into a joint venture with Citigroup to provide mobile banking services in Latin America. The $50 million venture has been named ‘Transfer’ and is expected to begin in Mexico by early next year.
As per reports, the joint venture will enable customers to open bank accounts, transfer money, withdraw cash from the ATMs along with shop, receive payments and pay bills via their mobile handsets. The service will initially be offered to clients of Citi’s Mexican subsidiary, Banamex and Telcel.
Manuel Medina-Mora, Chairman & Chief Executive Officer, Latin America & Mexico of Citigroup Inc. has reportedly said that the governments could use ‘Transfer’ as a platform for making benefits available to the poor, as well as for civil service payroll.
Monitise partners with RBS for Mobile Banking (UK)
Monitise has signed a new partnership agreement with Royal Bank of Scotland (RBS) Technology Services to broaden mobile banking and payments services across its banking divisions. The five year deal will enable RBS to utilise Monitise’s industry leading and award-winning platform to provide innovative bank-grade and secure mobile apps and services to RBS customers.
According to reports, Will Jones, general manager for Monitise’s RBS partnership has said that new apps have been developed on the Monitise platform as part of a partnership project with RBS called Quantum Leap. The integrated technology is expected to be fully flexible along with allowing the bank to optimise every app so as to take advantage of what advanced handsets can do. The contract covers all RBS group divisions including NatWest UK Retail, Ulster Bank and RBS Global Corporate and Business.
Monitise to offer new app for UK BlackBerry users
Mobile banking software provider Monitise will offer a new banking app for UK BlackBerry smartphone users this summer. The new app will deliver a high quality look, feel and user experience specifically tailored for BlackBerry smartphones. The app functionality is being developed via Globe, Monitise’s technology platform which allows financial institutions, service providers, payment companies and processors to create a wide array of mobile money services in both developed as well as emerging markets. The new mobile money client services app in development for the BlackBerry platform is a key part of Monitise’s global growth strategy to deliver mobile money services more quickly to an ever-increasing number of customers.
