Security concerns continue to hamper UK m-payments take-up

Only 17% of Brits want to use their mobile phones as wallets, with security concerns the chief reason for reticence, according to a survey from Intersperience.
http://www.finextra.com/news/fullstory.aspx?newsitemid=23062

Citi launches Facebook top-up app for mobile operators

Citi has unveiled an application that lets mobile network operators accept top-up payments from customers through Facebook.
http://www.finextra.com/news/fullstory.aspx?newsitemid=23066

Mobile Wallet Security a Major Concern for U.K. Consumers

Consumers in the United Kingdom are concerned about security when considering using mobile-wallet payment systems, according to new research Intersperience Research Ltd. released Oct. 14.
http://www.americanbanker.com/issues/176_202/mobile-payments-consumers-wallet-research-united-kingdom-1043245-1.html

New Jersey Transit partners with Google for mobile payment options

New Jersey transit is going to go just a bit more smoothly thanks to a partnership between Google and the New Jersey Transit.
http://www.inquisitr.com/152053/new-jersey-transit-partners-with-google-for-mobile-payment-options/

Research and Markets: Tesco Bank and Virgin Money: Can Banking without the Banks Work?

Banking without the Banks, written by marketing expert Professor Steve Worthington and industry consultant Peter Welch, examines the prospects for non-banks such as Virgin Money and Tesco Bank in the wake of the financial crisis that has damaged the reputation of the traditional' banks. The report sets out specific challenges that the likes of Virgin and Tesco face in building full-service banks.
http://pymnts.com/research-and-markets-tesco-bank-and-virgin-money-can-banking-without-the-banks-work-20111017005702/

Mobile Commerce Forum Report: The mobile opportunity is in the numbers

There are strong arguments for retailers to invest in mobile commerce, even if traffic from mobile devices represents only a small portion of web traffic today, two presenters said this morning at Internet Retailer’s Mobile Commerce Forum in Houston.

http://www.internetretailer.com/2011/10/11/mcf-report-mobile-opportunity-numbers

What if mobile payments became a free service?

Going through different initiatives throughout the mobile payments around the world, I came across a question of “What if the mobile payments services became a free service” similar to the current card schemes of Visa / MasterCard. Or at least to bring the service charges into a reasonable numbers rather the extravagant charges imposed on the low income segment. Knowing that mobile payments was initially started in Africa where in some places the daily income is less than 1 USD, and the average ticket size is already low, the mobile operators and financial institutions should consider revising their service charges to make the model more viable to low income people. Although that might look as a theoretical approach, yet the impact might be significant and noticeable in adoption. The service charges can then be obtained from other sources, or simply by driving volumes up to become commercially viable.

International Scheme for mobile payments

Do you think there would be an international scheme for mobile payments? something that is similar to Visa and MasterCard?

MTN gets $200m in money transfers

Uganda's leading telecommunications operator MTN last month recorded over $200m (Ush520b) in mobile money transfers a sign showing positive growth in the newly invented venture in the country.
http://www.busiweek.com/11/news/uganda/1790-mtn-gets-200m-in-money-transfers

UN launches phone-based scheme to help poor Ivorians buy food

The United Nations has launched a pilot programme that uses mobile telephone technology to facilitate cash transfers to help thousands of poor people that were badly affected by the post-election crisis in Côte d’Ivoire to buy food.

http://www.un.org/apps/news/story.asp?NewsID=39927&Cr=Ivoire&Cr1=

Very good article about regulating the Mobile Money services

The interesting part, is we are still seeing more and more advanced MMS (Mobile Money Services) in developing Africa while still on the drawing board in developed countries…

http://mmublog.org/blog/regulating-non-bank-mobile-money-service-providers/

Mobile remittance service to connect Morocco and Belgium

A new remittance corridor has been launched connecting Morocco to Belgium. The initiative has been implemented by Moroccan money transfer specialist Wafacash – a subsidiary of the Attijariwafa Bank Group – and MFS provider BICS, a part of the Belgacom Group.
http://moroccoworldnews.com/2011/10/mobile-remittance-service-to-connect-morocco-and-belgium/

NCR, PayPal and S1 offer P2P payments through ATMs

NCR, PayPal and S1 have teamed up on a service that lets people make real-time person-to-person payments from cash machines.

http://www.finextra.com/news/Fullstory.aspx?newsitemid=23051

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Mobile services no longer just a 'nice-to-have' for banks - Javelin

Mobile banking is no longer just a 'nice-to-have' channel for financial services firms, it has become a 'must-have', used by nearly a third of Americans, according to Javelin Strategy & Research.
http://www.finextra.com/news/fullstory.aspx?newsitemid=23032

German mobile operators Telefónica, Telekom and Vodafone are banding together to form a company pushing contactless payments.

The three firms already offer a remote text message-based mobile payments service for online purchases under the mpass brand.

They now intend to register mpass as a company that will begin operating early next year and make a move into near field communications-based contactless m-payments.

According to NFCWorld, initially the new venture will offer Germans NFC stickers that can be stuck to handsets before adding a SIM-based option later.

Christian Illek, director, marketing, Telekom Deutschland, says: "Mpass will make mobile payment easier, faster and more secure than with conventional payment means. Within the mpass partnership we are not only applying the specific benefits of mobile phones in the payment market, but, more importantly, we are bundling our customer reach with that of our partners."
http://www.finextra.com/news/announcement.aspx?pressreleaseid=41460

AT&T-Verizon-T Mobile Sets $100 Million for Google Fight: Tech

Verizon Wireless, AT&T Inc. (T) and T- Mobile USA plan to invest more than $100 million in their joint venture that lets consumers pay for goods with mobile phones, people with knowledge of the project said.
 http://www.bloomberg.com/news/2011-08-29/at-t-verizon-t-mobile-sets-100-million-for-google-fight-tech.html

Mobey Forum's new white paper on Business Models for NFC Payments

Mobey Forum’s latest white paper highlights what needs to happen to make NFC contactless mobile payments at the point of sale (PoS) a mass market reality. As NFC technology continues to gain momentum, the study demonstrates how stakeholders can assess the different implementation options, define the business case and roles that will meet their requirements and establish a clear go to market strategy with essential partnerships.
This white paper will be of particular interest to all financial institutions, mobile network operators, handset manufacturers, operating system providers and any technical vendors operating in the NFC environment.
http://www.mobeyforum.org/

Etisalat and MasterCard provide preview of commercial introduction of NFC service at Gitex

Etisalat and MasterCard Worldwide have collaborated with industry leaders to announce an innovative cashless mobile payments programme in the UAE. This latest evolution in mobile payments uses Near Field Communication (NFC) technology to authorize everyday transactions via a smartphone.
http://www.ameinfo.com/277739.html

PaymentOne launches One Care

PaymentOne Corporation, a global leader in mobile payments, today announced One Care, an industry guiding consumer advocacy initiative to help ensure a positive payment experience for consumers and the merchants that serve them.
http://www.finextra.com/news/announcement.aspx?pressreleaseid=41462

Qtel Mobile Money launched in Qatar

QTEL - Qatar telecommunication mobile service provider announced launching the mobile money service in Qatar
http://www.ameinfo.com/277608.html

Mobile Money

This Blog is all about mobile money and
mobile financial services, during the coming period I will be posting insights,
industry views, and news from all around the world. I will also include referrals
for researches and links of an interest to this emerging industry. Please visit
this blog regularly and leave your comments..
Thank you