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UK consumers ready to drop banks for mobile – Zapp

UK mobile payment provider Zapp has released research which shows that 21 million UK consumers are ready to switch banks to access mobile payments, 33% of these within a year. According to Zapp’s research, UK consumer usage of mobile payments has risen by 64% in 15 months, and the number planning to do so is set to increase by 48%…. Continue reading >>

BancNet selects Gemalto to secure mobile banking

Global digital security specialist Gemalto has been selected by BancNet of the Philippines to secure its mobile banking services. BancNet’s network consists of 116 local and international banks, serving over 40 million cardholders. Gemalto’s Ezio Authentication Server and Mobile token will allow BancNet customers to pay their bills, check account balances, and transfer funds from their accounts with any member… Continue reading >>

Axis Bank deal with WhatsApp for P2P mobile payments

According to recent press reports, Axis Bank of India is set to introduce a P2P mobile payments system which will let the customers send money to anyone through WhatsAPP, Twitter, Facebook and contacts list of the phone. Fastacash, the social payments vendor from Singapore developed a app named ‘Ping Pay’ which is capable of enabling P2P money transfer and also the… Continue reading >>

Retail banks must change to face realities of digital world

Retail banks are facing the toughest of trading conditions, claims a new report from Oracle which says that three quarters lack suitable technology to complete the path to a digital world, leaving them vulnerable to new competitors. Of more than 100 top executives at major retail banks around the world quizzed by Oracle, 94% say that having a digitised omni-channel… Continue reading >>

Banks rethink business models as PSD2 comes into effect

According to the PSD2 and XS2A – regulation or opportunity report, Europe’s banks are engaged in a do-or-die effort to prepare for the 2016 introduction of new payments regulations that are expected to usher in a wave of fresh competition and innovation across the sector. The revised Payment Services Directive (PSD2) is being introduced by the European Commission to further open the markets… Continue reading >>

Denmark proposes cashless country

The Danish government, as part of a pre-election package of economic measures put forward by the government, has proposed getting rid of the obligation for selected retailers to accept payment in cash, moving the country closer to a cashless economy. Nearly a third of the Danish population uses MobilePay, a smartphone application for transferring money to other phones and shops,… Continue reading >>

Millennials: how banks can capitalize

Personal Financial Management (PFM) tools offering consumers budgeting tools and enhanced visibility into their spending behavior are becoming more widely available. And while not all customers are interested in these services, they appear to be gaining traction with the “Millennial” demographic: customers between the ages of 18 and 34, many of which are digitally-savvy and accustomed to having robust access… Continue reading >>

Mobile payments in the US 2015

Apple, Starbucks and Disney are all strong brands with loyal followings, but they also have something else in common: They’re early leaders in the ever-evolving mobile payments market. Some analysts predict 2015 will be the first year all the pieces — including a larger base of NFC-enabled devices and terminals, and growing consumer acceptance — come together to take mobile… Continue reading >>

Malawi takes key step to advance digital payments

Malawi says it has taken a significant step towards creating a digital payments ecosystem in order to address poverty and drive inclusive growth. An event organized by the Government of Malawi with the United Nations Capital Development Fund’s (UNCDF) Better Than Cash Alliance and Mobile Money for the Poor initiatives brought together digital payments players to accelerate the progress of digital… Continue reading >>

Deutsche Bank ramps up digital bank capabilities

Deutsche bank has announced plans to shutter 200 branches and invest an additional €1 billion over the next three-to-five years to create “a more digital bank”. As part of a massive cost-cutting programme, the giant German bank is shrinking its securities business and selling Postbank as it looks to deliver annual cost savings of €3.5 billion – according to Finextra…. Continue reading >>