Australia: ANZ goMoney iPhone app offers free funds transfers
September 1, 2010, 9:36 am

The free app allows quick access to account balances and a 30-day transaction history.

Afterlaunching the app, a four-digit PIN is required. ANZ has done away withthe traditional user name and password as PINs are less clunky but equally secure.

Customers will be able to send up to $1000 per day to recipients without the need for their bank account details. The Australian phone number is selected from the contacts list to make the mobile payment.

Global Payments, Inc. Certifies ROAM Data Mobile Payments Solution
September 1, 2010, 9:33 am

According to Will Graylin, ROAM's CEO,"We are very pleased to have this relationship with Global to deliver the lowest-cost and most scalable mobile commerce solution for mobile and micro merchants to accept credit card payments on their own mobile phones."  The ROAMpay Swipe is the world's first encrypted swiper attached to the audio jack of cell phones and PCs, to enable a highly cost effective card present solution for merchants.   The ROAM platform also is the only solution today that enable large merchants like Direct Sales companies to customize their own mobile applications on the fly, from order entry .

Mi-Pay appoints new CEO, Allan Jakobsen
September 1, 2010, 9:25 am

Having held executive positions within a number of Telcos across Europe, including leading Danish operator TDC, Jakobsen also has extensive payment industry experience as the former President and CEO of the largest Telco data and clearing house Dannet/MACH. His appointment will further strengthen Mi-Pay's ability todrive competitive service and operational advantage to international mobile operators, MVNO's and financial institutions.

Original founder and former CEO, Norman Frankel, will retain a central role within Mi-Pay, as part of the executive management team and as Chief Business Development Officer where he will focus on developing the strategic relationships that will

IBM to Ship World's Fastest Microprocessor
September 1, 2010, 9:16 am

This world record-breaking speed is necessary for businesses managinghuge workloads, such as banks and retailers, especially as the world becomes increasingly more inter-connected, data has grown beyond the world's storage capacity, and business transactions continue to skyrocket.

For example, according to a study by Berg Insight, the number of active users of mobile banking and related financial services worldwide is forecasted to increase from 55 million in 2009 to 894 million in 2015.  

Such trends are driving the need for innovation in systems that can help clients take advantage of them to provide new services and develop new business models.

ANZ sneaks out iPhone banking app
August 31, 2010, 4:24 pm

ANZ has released an iPhone application that allows customers to send money to anyone with an Australian bank account using only their mobile phone number as an identifier.

It is the first application launched by a major Australian bank that offers a "pay by mobile" function, which allows users to pay a third party without knowing the recipient's bank account number. 

Users of the application, called goMoney, simply enter the mobile number of the person they wish to pay, and the amount.

South Africa: Vodacom aims for 10m M-Pesa users
August 31, 2010, 4:15 pm

Vodacom expects to sign up 10m M-Pesa mobile money users within three years.

The telecommunications operator’s director in charge of the product’slaunch, Romeo Kumalo, revealed the ambitious target during the product’s launch in Midrand, north of Johannesburg, on Tuesday.

The 10m target is particularly ambitious given that the total unbanked population in SA is not much higher than that, at 13m people.

Vodacom has launched the M-Pesa project, first pioneered by Safaricom in Kenya, in conjunction with Nedbank.

Mobey Forum Launches Pioneering Guidelines on How to Implement Mobile Remote Payments
August 31, 2010, 4:13 pm

Entitled Mobile Remote Payments General Guidelines for Ecosystems, the white paper focuses on payments where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located. For example person-to-person mobile money transfer or payment to merchant, where the mobile device does not need to be in close proximity to a point-of-sale terminal.

With contributions from a multitude of players from the banking, mobile and payments industry that represent the entire ecosystem including Caisse d’Epargne, Deutsche Bank, DnB NOR, Nokia, Nordea, Royal Bank of Scotland and TeliaSonera, the white paper highlights three .

Mobile Payment Transactions to Reach $56.7 Billion by 2015
August 31, 2010, 4:10 pm

 The market for NFC (Near Field Communication) mobile payments in the U.S. is in the nascent stage with an adoption rate of only 1.7%; this represents a huge opportunity for early movers offering the same. Adopting NFC mobile payment will open new revenue channels for banks as well as mobile operators as more than 94% of the U.S. population owns a mobile phone, and 60% of these have a card slot in their mobile phone.

With the help of NFC technology, banks will be able to tap micro transactions made by cash, representing around 20% of the total transactions in the .

Mobile banking app for TD Bank hits iPhone and Android
August 31, 2010, 4:01 pm

TD Bank is one of the top 15 banks in the USA – serving mostly the North East. It has announced a new free-to-download mobile application for both Android and iPhone – with a Blackberry app to follow in the near future.

What does it do?

The TD Bank app is one of those nice banking applications that gives you access to the kind of features you’d expect from your on-line portal. You can check your balances, transfer funds, make bill and loan payments, etc. 

TD Bank Mobile App Available for iPhone and Android Devices
August 30, 2010, 12:35 pm

Mobile Banking Features

Initially, customers can use the mobile banking app to:

“Our mobile banking app is all about giving our customers pocket-sized convenience and real-time access that is free, easy, and secure,” said Suzanne Poole, executive vice president, retail sales strategy and distribution, TD Bank. “This is just the first in a series of releases for mobile banking. There will be exciting new additions to our app features over the coming months including a BlackBerry® app.”

Current TD Bank Online Banking customers can downloadthe

Intuit and mophie to Offer Credit Card Solution for iPhone
August 30, 2010, 12:07 pm

As part of this solution, Intuit GoPayment offers a quick and easy application process that is designed to let merchants start processing credit cards on their iPhones in as few as 15 minutes. As an option, GoPayment is also compatible with QuickBooks(R) Mac to help save time in keeping business financial files up to date.

When will smartphones replace our wallet?
August 30, 2010, 11:39 am

Don't bank on it happening any time soon.

I was out for brunch on Sunday at a neighborhood cafe with friends when I recalled the Near Field Communication (NFC) mobile payment trials I'd taken part in the last couple of years. The biggest pain point was I had to use a handset provided specifically for the test, other than my own. In fact, I can't even remember the phone model Iused for the October 2007 trial,where the device had an EZ-Link and NFC-enabled chip that doubled as ane-purse. It was a fugly phone and I dreaded taking it .

T-Mobile launches mobile payments in Macedonia with Margento
August 30, 2010, 11:37 am

T-Mobile embraced the Margento mobile payment solution.System is currently in a pilot phase, available in Experience café on the City Square in Skopje. It is expected the service to become available throughout Macedonia at the beginning of the next year.

T-Mobile Mac is also planning to introduce mobile payment service in markets, parking lots, petrol stations, pharmacies, taxies, etc.

The mobile payment for post-paid customers shall be charged to their monthly bill, while the payment pre-paid customers shall link their phone number to the bank account.

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Fiji: Fantasy becomes reality
August 30, 2010, 9:45 am

The advent of mobile phone technology is so fast that what was once fantasy is now reality.

They have enabled us to send and take pictures or videos, we can see each other as we speak, we can literally be out of the office but still in touch with what's happening and we can even send money to each other.

Now Digicel Fiji says it is ready to take Fiji to the next level ù one that would enable customers to link their phones or "e-wallets" to their bank accounts.

Stephen Breen, Digicel's mobile money director, said they were at advanced technology

Users Up at China's Union Mobile Pay
August 26, 2010, 12:26 pm

Transaction volume on China's Union Mobile Pay service exceeded $4.4 billion last year, the company said this week, the first time it has disclosed such numbers.

Location-based social networks: Where are you? A tale of fake mayors and real deals
August 26, 2010, 12:22 pm

MARKETING, its veterans like to say, is all about the “three Rs”: reaching the right person in the right place at the right time. Hence the growing interest in marketing circles for mobile-phone-based social networks such as Foursquare and Gowalla that let users “check in” to shops or restaurants and instantly tell their friends where they are. Fans of such services gush that they will mint money by allowing ads to be targeted at folk who are about to make a purchase. But the networks must negotiate some important hurdles first if such lofty predictions are to come true.

Location-based .

Kenya: Firms embrace e-money transfer for dividend pay
August 26, 2010, 12:10 pm

Kenyan companies are adopting electronic funds transfer as a method of paying dividends and other dues to shareholders in a move meant to enhance efficiency and reduce costs incurred in tracking uncollected cheques.

The move comes in the wake of rising cases of unclaimed cheques either because investors did not update their postal addresses or the amounts paid in dividend were so small that they opted not to cash the cheques.

Kenya Airways will be the latest listed firm to endorse electronic funds transfer (EFT) and use of the mobile money system if stakeholders give the agenda a nod at .

Fiserv Launches Mobile Source Capture, Bringing Convenience of Check Capture to Smartphones
August 26, 2010, 12:08 pm

Mobile Source Capture is a downloadable application forcamera-equipped smartphones that allows users to securely take a picture of thefront and back of a check and deposit the item electronically, without everhaving to visit a branch, an ATM, the office or home. Users of Mobile SourceCapture can deposit a check instantly from wherever they are to the financialinstitution for processing, clearing, settlement  and posting. Mobile Source Capture is being initiallytargeted at clients seeking a customized or stand-alone solution, typicallylarge financial institutions, or any institution with a strong focus on leadingthe mobile revolution. The solution will be integrated with Fiserv accountprocessing

mFoundry Platform Crosses 1-Million Users
August 26, 2010, 12:01 pm

"Over the past year we've seen torrid growth in end-user adoption and new client signings," noted mFoundry CEO and Co-Founder Drew Sievers,"The proliferation of smartphones into the market, combined with the rapid uptake of mobile banking technology by banks and credit unions, isproviding a fertile foundation for business growth."

With nearly 200 customers, much of mFoundry's traction in new sales is comingfrom the emerging middle market of credit unions and community banks who are looking for a cost effective way to deliver the most powerful mobile solution possible. mFoundry's product is ideally suited for thesefinancial institutions, delivering a highly configurable,

CellTrust Prepares NFC-Provisioning APIs Using SecureSMS for Carriers and Banks as NFC Technology Rollout Begins in 2011
August 25, 2010, 3:23 pm

NFC (Near Field Communication) is a short-range wireless communication standard that bundles a contactless chip with a contactless reader inside the mobile device. With NFC technology, consumers can simply wave or tap their phone within a few inches of a reader to transfer information to their mobile phone or to complete a mobile payment or transaction.

Designedto make life much easier for the end-user, provisioning NFC will require the carrier to send sensitive and confidential information to the mobile subscriber's handset.  While a few methods exist to provisionNFC, CellTrust believes SMS is the optimal choice because it uses the mobile .

Nokia Money – the real alternative to cash?
August 25, 2010, 3:19 pm

UNE, India – 97 per cent retailers in India don’t have a facility to deal with credit cards. They use cash. And that’s exactly what Nokia Money is designed to help with. By connecting those without bank accounts (the vast majority of people in India) with those who onlydeal in cash, Nokia Money is seeking to connect people in a totally new way – through transactions. We caught up with the head of Nokia Money alliances, Gerhard Romen to see how things are panning out since the service was first announced last September.

Romen was involved in the first banking trial

Monitise FY10 Loss Widens
August 25, 2010, 9:55 am

(RTTNews) - Monitise plc (MONI.L), a mobile banking firm, reported Wednesday a wider loss for fiscal 2010 despite a 125% surge in revenues, as the company increased its investment in technology platform and incurred costs to support its international growth in the latter half.

Monitise's loss before tax widened to GBP 17.04 million from GBP 13.13 million last year.

Estonian (Toronto) Credit Union and Chilldor Launch Mobile Banking Services to Banking Customers
August 25, 2010, 9:17 am

ETCU has implemented Chilldor's mobile banking service free of charge‡ for their customers, who can easily sign up to have mobile banking services added to their banking accounts.

"It's a priority for us to provide our customers with top quality and personalized services. Incorporating this technology adds toour online banking services to provide the most convenience possible for our clients," says Tiina Orpana, General Manager of the ETCU. 

"Now, it doesn't matter whether you are in a store, restaurant or travelling, there is no need to find a branch, an ATM or look to a data plan or Wi-Fi connection to access .

Mobile Payment Systems Could Leave Consumers at Risk
August 25, 2010, 9:13 am

"As mobile payments systems come to the U.S., product providers and regulators need to make sure that they are at least as safe for consumers to use as traditional credit card and debit card payments," said Michelle Jun, staff attorney for Consumers Union.  "It is critical that mobile payment systems are covered by strong rules to protect consumers from losing money because of fraud, processor error or a dispute with a retailer."

Federallaw protects consumers in the event that their credit card or debit card is lost, stolen or misused. But current protections are badly fragmented and don't apply to all .

Should Carriers Cut Out Credit Cards?
August 24, 2010, 11:03 am

Interest in mobile commerce in the US has exploded, especially in the past few weeks, but the space could be growing too large for its own good, according to one alternative payments provider. (See Google, Apple Fight Carriers for Mobile Money.)

Chicago-based startup mPayy is on a mission to rid the world of credit cards, and it believes that the wireless operators should do the same.

AT&T Inc. (NYSE: T), Verizon Wireless , and T-Mobile USAare trialing contactless payments by leaning on Discover Financial Services and Barclays Bank, two partners that ensure the carriers will always be the weakest .

Mobile Remote Deposit Capture May Lift Check Use
August 24, 2010, 10:58 am

Checks may be getting an extended life now that financial institutions are developing and rolling out mobile remote deposit capture technology as part of their mobile banking applications, observers said.

Growing interest in the technology, which lets customers deposit checks using images captured by cameras on their smartphones, has sparked a debate over whether it might help stall the rapid decline in check use.

"Check volume is declining, but why would it decline if [banks] make it really easy to deposit" checks, said Nicole Sturgill, the research director for delivery channels at TowerGroup.

MMT Global, the international Mobile Money Transfer flagship conference, will occur in Dubai, October 24-27 2010
August 24, 2010, 10:42 am

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Bank of the West Selects ClairMail as Strategic Partner to Power Mobile Banking Services
August 24, 2010, 9:35 am

"Bank of the West is known for outstanding customer service, so naturally we want to extend that to our new mobile banking service. Mobile banking is poised to reshape the financial services industry so selecting the right solution is paramount to achieving our strategic mobile banking goal of delivering a new caliber of personalized service to our customers," said Phillip Rogers, Head of Mobile Banking at Bank of the West. "After evaluating what was available in the market, we chose ClairMail over less robust solutions because we wanted to leveragethe power of ClairMail to adapt to the individual needs of

Wells Fargo's Mobile Banking Scores Pair of Independent Awards
August 24, 2010, 9:04 am

The Future Mobile Awards are given to companies that have made a significant contribution to their sector and are poised to make considerable market impact in the future. According to Juniper Research, "Wells Fargo was chosen based on its multiple platform strategy and continued service innovation such as the recent near real-time warning of potentially fraudulent activity."

Arah Erickson, senior vice president, Wells Fargo Retail Mobile Banking, commented, "Wells Fargo is an internet banking pioneer and we have extended this commitment to providing innovative mobile banking services. We are proud of our 'anytime, anywhere' banking capabilities and are honored to have