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Sharp shift to mobile banking means malware prevention needs to become a key consideration

As retail banks restructure to align with the uptake in mobile banking, the issue of mobile application security and malware attack prevention now needs to be brought to the fore to protect consumers. According to the British Bankers’ Association (BBA), digital banking transactions are now worth almost £1 billion a day, with UK mobile and internet banking transactions now being… Continue reading >>

70% of banks increasing innovation spend

Despite conflicting priorities and the economic downturn, banks around the world are still increasing their investments in innovation. These key findings are part of Innovation in Retail Banking 2014, the sixth annual study commissioned by Infosys and Efma. Financial institutions the world over are raising their innovation spend significantly in a desperate attempt to fend off the threat to their established… Continue reading >>

Retail banks begin heavy digital investment

Financial services association, BAI has released preliminary findings from a survey which suggests online and mobile platforms are the leading focus of technology investments for retail banks as they move to increase the functionality of their digital offerings. Of nearly 400 FS professionals quizzed ahead next month’s BAI Retail Delivery conference in Chicago, 95% say that their bank lets customers… Continue reading >>

SIA launches mobile money service

Italian payment processor SIA has launched a SEPA-compliant smartphone-based mobile money transfer service, enabling users to send and receive money in real time to and from their phone contacts. The ‘Jiffy’ app, which utilises SEPA credit transfers, is available on Android, iOS and Windows Phone operating systems. The Jiffy app links users’ current accounts, the IBAN code of the account… Continue reading >>

Kotak Mahindra offers Facebook mobile money transfers

Indian bank Kotak Mahindra (KMB) has unveiled a mobile money transfer service enabling Facebook users to make funds transfers to each other. The KayPay application utilises India’s Immediate Payment Service for mobile phone payments, enabling users to register their account details and conduct transfers using their Facebook log-in credentials and a one-time password from KMB. Users also receive instant notifications… Continue reading >>

Japanese social media network Line moves into payments

Japanese social media messaging network Line has entered the payments market with a service for both online and in-store transactions. Line, which has 560 million registered users worldwide, will enable Japanese customers to link the Line mobile app to their bank accounts and credit cards. Users will then be able top up their Line account and make purchases online and… Continue reading >>

ASB and BNZ to launch New Zealand mobile wallet

New Zealand banks ASB and BNZ are to launch a live pilot of a domestic  mobile wallet developed by NFS NZ, a joint venture company established by the country’s leading mobile networks and bank-owned EFTPOS firm Paymark. NFS NZ – whose shareholdrs include Paymark, 2degrees, Spark and VodaFone – has been rebranded as Semble, ahead of a planned national roll… Continue reading >>

Mobile money transfer gains momentum

As mobile money transfer services like Pingit and Paym gain traction, how will mobile remittances help drive mobile commerce? With all the focus on mobile payments and wallets, and the success of mobile-based money transfer services like Barclays Pingit and Paym in the UK, the spotlight is being shone on the potential of these account-to-account transfer services to bring about… Continue reading >>

UK’s leading retailers to bring mobile payments to millions via Zapp

UK mobile payment provider Zapp has announced a wide range of retail partnerships across a range of sectors like Asda, Sainsbury’s, House of Fraser, Thomas Cook and Shop Direct (including the very.co.uk, Littlewoods, Isme, Woolworths.co.uk and K&Co brands). “We know that the way that our customers shop is changing and we’re always looking at new and innovative ways to improve… Continue reading >>

Equity Bank challenges M-Pesa with Thin SIM technology

Kenya’s Equity bank is aiming to challenge mobile money transfer giant M-Pesa with the release of an ultra-thin smart SIM enabling users to access the bank’s mobile money service without needing to use dual-SIM phones. The duoSIM technology from Kenyan company Taisys is applied as an overlay to a customer’s original SIM card to enable mobile financial services irrespective of… Continue reading >>