Indian Post Office launches mobile money service with BSNL (India)

On 02.03.12, In Mobile, By Editor

The Indian Post Office has launched its own mobile money service in collaboration with BSNL (Bharat Sanchar Nigam Ltd) . According to reports, subscribers across all networks would be able to avail this service for a charge of 5 per cent.

As per sources, a user would give the post office the mobile number, address and amount of the receiver. Once the cash is deposited, the Post Office will send a unique code to both the sender and the receiver via a text message. The receiver simply needs to show the unique code to the Post Office to receive the money.

The highlight of such a scheme is that it does not require any additional expenditure from the user. Further, users with regular mobile phones can also avail this service as it is carried out through text messages.

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Warid Telecom launches mobile money service (Uganda)

On 01.02.12, In Mobile, By Editor

Mobile operator Warid Telecom has launched a mobile payment service titled Warid Pesa which will allow users to convert cash to electronic money and vice versa. As per company reports, users will be able to use the electronic money to pay for goods and services via their mobile phones.

According to reports, Warid Pesa also caters to the large unbanked population by enabling users to simply deposit money into their Warid Pesa account as well as transfer the electronic money to other mobile users who can re-convert the same to cash.

As per sources, Shailendra Naidu, Chief Commercial Officer, Warid Telecom has said that not only will this service provide users with another choice, but that it is also an easy, convenient and quick money transfer service across all networks.

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Nokia launches new mobile money service (India, Finland)

On 12.16.11, In Mobile, By Editor

Nokia, the Finland based handset maker, has reportedly launched its Nokia Money service across India enabling users to perform daily financial transactions via their mobile device. According to reports, a differentiating factor for this service is in its simplicity and convenience of use.

As per sources, users can avail Nokia’s Money service by simply registering with an authorized outlet and do not require the Know Your Customer (KYC) paperwork like in the case of most mobile money offerings. Further the service is available to all mobile users irrespective of the type of mobile used by them.

Reports also reveal that customers can perform the financial transactions via SMS and do not require an internet connection. With a large portion of the Indian population still unbanked, and the increasing penetration of mobile phones, Nokia’s new mobile money service is expected to take the m-payment industry by storm.

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Etisalat launches mobile money services (Afghanistan)

On 12.02.11, In Mobile, By Editor

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.

 

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Mobile payments to see major growth in coming years

On 12.01.11, In Mobile, By Editor

With the increasing demand for mobile payment services, mobile operators along with big companies such as Google, Visa and PayPal are reportedly working towards establishing themselves in this market. According to reports, mobile operators in the US, AT&T, Verizon Wireless and T-Mobile are spending large amounts of money in an attempt to strengthen their foothold in the mobile money market.

Further, sources claim that while Google launched its mobile wallet service in the US this year, enabling consumers to use a NFC (Near Field Communications) enabled handset to make payments; Visa and PayPal are expected to offer their services by the next year.

As reported by Wireless Federation earlier, Spanish mobile giant Telefonica announced the trial of its mobile wallet service, in collaboration with BlackBerry maker Research In Motion (RIM). Further, industry analysts believe that in the next five years, mobile payments are going to become the norm and may replace a large part of the traditional payment methods.

 

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Orange aims to extend its Orange Money facility across the globe (Europe, Africa)

On 11.29.11, In Mobile, By Editor

Mobile operator Orange has reportedly been working with financial services company, Western Union, in an attempt to increase its Orange Money facility to include international money transfer services. Orange which currently offers its mobile money services to over three million subscribers across eight African markets hopes to add global money transfers to its portfolio of financial services.

According to reports, Marc Rennard, Executive Director, Orange Africa has said that Orange money is a very important part of their strategy in Africa and emerging markets. He added that mobile payment services have the potential to bring cost-effective and secure access to banking services to people with low incomes.

As per services, the operator believes that the money service will be largely welcomed in sub-Saharan Africa, where only 10 percent of the population have a bank account as compared to 60 percent who own a mobile phone.

 

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LightSquared and m-banco to offer mobile money services (USA)

On 11.09.11, In Mobile, By Editor

Wireless broadband communications network provider, LightSquared, has entered into an agreement with m-banco, a U.S. financial, telecommunications and entertainment service provider, which will enable m-banco customers to conduct financial transactions using their mobile handsets. According to reports, m-banco’s mobile money services will enable customers to conduct voice and data communications along with banking services such as wire transfers and device to device payments using their mobile devices.

As per sources, Randolph Kantorowicz-Toro, Chairman and CEO, m-banco has said they are committed to delivering advanced wireless services to their customers so that they can conduct voice communications and wireless transactions with friends, family and financial institutions in the U.S. and around the world. He added that LightSquared’s network and wholesale-only model will essentially turn m-banco devices into ‘mobile wallets’ so their customers can conduct financial transactions at any time, at reasonable rates and regardless of location.

 

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Tigo rewards 210 customers in the ‘Reload and Win’ promotion for mobile money (Rwanda)

On 10.19.11, In Mobile Operators, By Editor

Tigo Rwanda launched a promotion called ‘Reload and Win’ in an effort to encourage users to use the e-wallet service on their mobile handsets. The promotion which began on September 29, 2011 has already resulted in 210 happy winners and will continue till October 30, 2011. As per reports, the winners receive various gifts ranging from cash, mobile phones, tablets and other gadgets. The cash prize winners are awarded money through ‘Tigo Cash’, the company’s mobile financial service allowing subscribers to transfer money with anyone in Rwanda via their mobile phone.

According to reports, Jolly Igoma, Advertising and Media Manager, Tigo, has said that all Tigo prepaid subscribes could participate in the new promotion by simply reloading $0.33 per day. She added that the winners are randomly picked and announced in the presence of a certified notary who uses computerized software to select the winners. Further, she also said that Tigo launched another promotion termed ‘Browse till you drop’ allowing Tigo internet customers to surf for the entire weekend from October 14 to October 16 for only $ 0.82.

 

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O2 confirms partners for m-wallet service (UK)

On 05.20.11, In Mobile, By Editor

O2 in the UK has confirmed the following as partners for its mobile wallet service : Wave Crest, FIS, Intelligent Environments and Visa Europe.

The service is scheduled for launch in the second half of 2011.

Christened as “O2 Money”, the operator will work closely with its partners to enhance and offer the best customer experience.

Wave Crest will provide the e-payment system and will also manage the security and online customer experience.

FIS will provide transaction processing and UK-based customer service for both the prepaid cards and the mobile wallet service.

Intelligent Environment will develop the m-wallet application.

Visa Europe will provide the payment network for wallet and new prepaid products.

O2 will also re-launch its pre-paid Visa card in the coming months with contactless capabilities.  The new O2 Money prepaid cards will also operate on the platform and systems provided by these new partners. Existing customers will be able to migrate to the new platform and will be issued with the new contactless prepaid cards.

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Monitise to offer new app for UK BlackBerry users

On 03.21.11, In Mobile, By Editor

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.

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