mobile money

BSNL to launch Mobile Banking in India

On 02.24.10, In Mobile, By Editor

www.WirelessFederation.com/news: Mobile Money Transfer Services is set to be launched by India’s state owned telco, Bharat Sanchar Nigam Limited in participation with SBI and YES Bank on electronic platform.

Money orders could be send by the mobile subscribers electronically through text messages (SMS) with the help of this innovative plan. For this, the customers are required to go to the nearest post office and transfer the money by SMS. The receiver can collect the money by showing the unique code contained in the SMS to the post office in his locality.

The service has already been test piloted in Chandigarh and it will soon be rolled out after Reserve Bank’s approval.

Swisscom-owned Sicap launches mobile money ATM

On 02.19.10, In Mobile, By Editor

www.WirelessFederation.com/news: ATM machine for mobile money services has been developed by Swisscom-owned Sicap and ATM manufacturer Wincor Nixdorf wherein users with prepaid mobile money accounts can use the ATM to send and receive money by entering the recipient’s mobile number and the amount of the transaction.

An SMS with a special code will be received by the recipient allowing them to go to the ATM machine to withdraw the cash. The ATMs can also be used for cash top-up and self-service subscription management.

According to Jürgen Samuel, CEO of mobile solutions firm Sicap, consumers will have to learn how to use the ATM which isn’t quite as straightforward as just sending an SMS directly but the staff can show first-timers how to use the service initially at the ATMs in cellco shops

Tagged with: ATM • Europe • mobile money • Mobile Money Service • Sicap • Swisscom

Vodacom South Africa to launch Mobile Money service

On 02.16.10, In Mobile, By Editor

www.WirelessFederation.com/news: The mobile money service, M-PESA will be introduced in South Africa by Vodacom and its South African banking partner. The new service will enable 26 million mobile phone subscribers in South Africa who have access to a mobile phone, but do not have or have only limited access to a bank account, to send and receive money via their mobile phones.

Vodafone developed the M-PESA service which has already been deployed by Safaricom in Kenya, Vodacom in Tanzania and Roshan in Afghanistan (branded M-Paisa).

According to Cenk Serdar, Director of Mobile Payments at Vodafone Group, the successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure payment services particularly in emerging markets and mobile technology in Africa has already improved the lives of millions simply by allowing them to communicate far beyond their immediate surroundings

Tagged with: Africa • Kenya • M-Pesa • mobile money • Mobile Money Service • Safaricom • Tanzania • Vodacom • Vodafone

Nokia launches Mobile Money service in India

On 02.16.10, In Mobile, By Editor

www.WirelessFederation.com/news: World’s first money transfer platform through mobiles in India has been announced by the global leader in the mobile handset industry, Nokia, at the Mobile World Congress in platform. Nokia has partnered Yes Bank and Obopay, which runs mobile payments platform and the pilot project has been launched in Pune.

Known as Mobile Money, the service will enable a customer to transfer money to other individuals, pay utility bills as well as recharge pre-paid SIM cards by using their mobile devices. Payment of merchants for goods and services can also be made by the consumers through their mobile devices.

According to D Shivakumar, VP and managing director, Nokia India, the service will create a financial ecosystem which is inclusive, sustainable and scalable besides competing with cash and not with plastic money adding that it will grow the size of e-transfer of money in India.

Tagged with: ASIA • India • mobile money • Mobile Money Service • Mobile World Congress • Obopay • Yes Bank

MTN Rwanda launches mobile money service

On 02.05.10, In Mobile, By Editor

www.WirelessFederation.com/news: ‘Mobile Money’ service has been launched by MTN Rwanda in partnership with Commercial Bank of Rwanda (BCR) after an investment of USD2 million. The new service enables customers on the MTN network to carry out financial transactions using their wireless handset through the 120 agents nationwide appointed by the operator.

The service is targeting 100, 000 subscribers in the year 2010. Non subscribers can also use MTN’s service.

According to Khaled Mikkawi, CEO at MTN Rwanda, MTNs network reaches over 90% or the population and it is only right that it leverage this coverage for a common good product that will go a long way in the financial deepening of the Rwandan economy.

Tagged with: Africa • Commercial Bank of Rwanda • Launch • mobile money • Mobile Money Service • MTN • MTN Rwanda • operator • Rwanda

Zain’s money transfer service reaches West Africa

On 01.08.10, In Mobile, By Editor

www.WirelessFederation.com/news: After a huge success of the concept of mobile money transfer in East Africa and particularly Kenya, Zain has announced to expand its mobile commerce service Zap to Niger, Sierra Leone and a full commercial pilot project in Malawi.

With this move, six African markets would be covered by the service with a combined population of 150 million people. The concept launched in February last year would complement the financial services sector in the continent as the mobile phone users will be able to send and receive money, pay for services as well as interact with their bank accounts using the service.

According Saad Al Barrak, Zain Group chief executive, the expansion of the service is an important step in pushing the boundaries of mobile communications and with the kind of impact the Zap had in Kenya, Tanzania and Uganda, similar impact is hoped by Zain in Malawi, Niger and Sierra Leone, where formal banking services are largely restricted to urban hubs.

Zain has entered into a partnership with the National Bank of Malawi (NBM) and NBS Banks in Malawi, EcoBank in Niger and Zenith Bank in Sierra Leone besides working with Citibank and Standard Chartered in East Africa.

Tagged with: Africa • East Africa • Kenya • Malawi • mobile money • Mobile Money Transfer • Niger • Sierra Leone • Tanzania • Uganda • West Africa • Zain Group

M-pesa agents’ recruitment method changed by Safaricom

On 01.05.10, In Mobile, By Editor

www.WirelessFederation.com/news: Removing the need to deal directly with sub- agents, Aggregator Model, a new system has been launched by Safaricom, a leading mobile phone provider, thus changing tack on its method of recruiting mobile money transfer, M-pesa agents.

As per the new model, the sub agents will be appointed by the agents on its behalf. The model will be introduced especially in the areas like Nairobi which are considered to be highly saturated by the agents. The super agents will give a float to the agents and the details are later passed on to the sub agents who will then work on agreed commissions by the agents.

Essar, a rival telecom operator, on the other hand, is set to launch money transfer service yuCash, thus eliminating the need for sub-agents altogether. Besides, it will ensure that agents get maximum commission, which it says is yet to be finalized but will be competitive.

Safaricom says that they have taken the step to protect its partnership with the existing agents. According to Safaricom chief executive Michael Joseph, existing agents have the capacity to serve Nairobi and other areas adequately. Besides, the migration of the existing sub-agents under the agency model to Aggregator has already begun.

Tagged with: Africa • Aggregator Model • Essar • M-pesa agents • mobile money • Nairobi • operator • Safaricom • yuCash

M-Pesa launches in UK (Kenya)

On 10.13.09, In Mobile, By Editor

Vodafone’s group company, Safarikom has launched m-pesa, it’s mobile money transfer and payment service at selected outlets in the UK.

Kenyans in the UK can now send money to their friends and family in Kenya through M-pesa UK, direct to their mobile phone wallets.

Western Union, Provident Capital Transfers and KenTv were involved in a small pilot before the commercial launch of this service. A total of 19 outlets with high local kenyan population were selected to trial this service.

To send money using M-PESA, the sender in UK will be required to identify themselves and furnish the agent with the recipient’s name, Kenyan mobile number and the amount being sent in Sterling Pounds. This will be converted at current rates and sent in Kenyan Shillings. Neither party is charged a registration fee.

A transaction fee ranging from £4 to £6.90 will be charged though.

Following authorisation by the Central Bank of Kenya, Safaricom shall be increasing the locations in the UK from which money can be sent to M-pesa customers as well as launching services across other popular remittance corridors

Currently, the maximum amount that can be sent internationally per transaction through M-pesa is £250 while the total allowable per month from a single sender in the UK is £1,000.

“The successful take-up of M-PESA in Kenya has clearly demonstrated the demand for easily accessible, secure cash payment services in emerging markets,” said Nick Hughes, Vodafone’s Head of International Mobile Payments. “Our partnership with Western Union allows M-PESA subscribers to receive international remittances and builds on the demand we have already seen domestically in Kenya.”

“This program aligns a global leader in money-transfer services, the world’s largest mobile operator group, and arguably one of the most impressive success stories in mobile money,” said Matt Dill, Senior Vice President, Western Union Digital Ventures. “In offering M-PESA users the opportunity to receive funds from abroad for the first time, these three companies are changing the way money moves around the
globe.”

Safaricom CEO Michael Joseph said: “We wish to invite Kenyans living in the UK to take advantage of this service, which presents a real innovation on our M-pesa menu. Through strategic partnerships with Western Union, Provident Capital and KenTV we are giving them an opportunity to convert across two currencies into M-pesa and send money affordably without any hidden costs – directly to the mobile phone of the recipient.”

Tagged with: Central Bank • Central Bank Of Kenya • CEO Michael Joseph • Innovation • kentv • Kenya • Kenyan • Kenyans • M-Pesa • Matt Dill • mobile mone • mobile money • Mobile Money Transfer • mobile number • Mobile Phone • money transfer • Nick Hughes • payment Service • phone • Provident • provident capital • remittance • Safaricom • TransACT • UK • Vodafone • Wallet • Western Union

Telefonica & MoreMagic Solutions offer international recharge for Movistar mobile phones in Latin America

On 09.02.09, In Mobile, By Editor

www.WirelessFederation.com/news: Telefonica, one of theworld’s leaders in the telecommunications sector, and MoreMagic Solutions, a leading mobile transactions provider, announced today that U.S. friends and family of Telefonica customers are now able to recharge Telefonica mobile phones throughout Latin America, using MoreMagic Solutions International Roaming Recharge Global Hub. Telefonica operates in twelve Latin American countries under the Movistar brand. From hundreds of thousands of retail locations, or the web – www.etopuponline.com, a customer can send a gift of prepaid airtime to a Movistar mobile phone.

MoreMagic Solutions International Roaming Recharge Global Hub leverages an extensive network of hundreds of thousands of retail locations in the United States, where the service is available for customers who have connections with Movistar customers in Colombia, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua, Panama, and Peru.

“Movistar customers are asking friends and family throughout the world to help them stay connected in a cost-effective and convenient way, and we are pleased to work with MoreMagic Solutions to meet their needs,” said Jaime Grau, Transactional Services Director at Telefonica Latinoamerica. “In communities throughout the United States, customers can purchase a gift of airtime at their neighborhood convenience store, and the Movistar mobile phone back home is immediately credited.”

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Tagged with: M-Banking • mBanking • Mobile Banking • mobile money

Mobile Money makes cellular payments easy, from Cambodia to Kenya

On 09.01.09, In Mobile, By Editor

www.WirelessFederation.com/news: Mobile Money Technology has quickly revolutionised the way customers pay their bills and companies manage their payroll, from Cambodia to Kenya. Already millions of people in developing countries who do not have access to a bank account are using mobile phone banking services to convert cash into credits on their cell phones to make safe and easy payments.

A fast rising star on the Mobile Money Technology firmament is WING Cambodia, one of the newest mobile payment services in the world. Cambodia has a population of 14 million, of which only half a million have a bank account, while there are over 3 million mobile phone subscriptions. WING Cambodia operates there in a joint venture with ANZ Bank.

WHY MOBILE MONEY TECHNOLOGY WORKS

Says Brad Jones, WING Cambodia MD: “Urban to rural corridors are essential to us. We started out targeting Cambodia’s 350 000 garment industry workers in 300 or so factories, focusing on a simple payroll product.” The global financial crisis has certainly been felt in the garment industry, with 70-80,000 jobs lost. “We are still working in the garment sector,” says Jones, “but we have also shifted our focus slightly towards providing payroll services to relatively recession-proof industries such as NGO and some corporate clients.”

On the consumer side, the clients are mainly blue collar urban workers who send money to family members in rural areas. Says Jones: “We also use a debit card – particularly valued by our urban customers – that allows customers to withdraw cash from ANZ Royal ATMs in Cambodia. These cards help to improve much of the merchants’ liquidity problems and, with no fees to merchants; this enables them to turn money over quicker.”