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IBM and Monitise form global alliance

IBM and global mobile banking solution provider Monitise have announced a global digital commerce and resourcing alliance. Aimed at leveraging both companies’ mobile banking, payments and commerce technology, this alliance brings IBM sales and specialist resources to clients around the world with the full spectrum of advice, solution design and delivery of Monitise’s Mobile Money services. Building on Monitise’s IBM… Continue reading >>

Square overhauls Cash app for text-based P2P payments

mPOS player Square has overhauled its Cash P2P payments app to enable users to send and receive funds via text. The latest version of Square Cash gives users the ability to send or request money from everyone in their address book using just their phone number, even if the recipient doesn’t have the app. Customers were already able to send… Continue reading >>

Is the US bank branch making a comeback?

A survey from the American Bankers Association (ABA) shows that the internet continues to be the most popular banking channel, although mobile, ATMs and even branches are gaining popularity. A survey of 1,000 US consumers polled for the ABA by Ipsos Public Affairs found that 31% of respondents favoured the internet as their preferred banking method. However, this stands in… Continue reading >>

Westpac to integrate Moven in internet banking

New Zealand’s Westpac Bank will integrate its online banking platform with start-up Moven’s mobile money management tool to enable customers manage their money through their smartphones, tablets or desktop. Moven, which is positioning itself as a branchless bank, provides downloadable bank accounts for customers. Westpac customers will be able to track their spending through real-time mobile receipts that will be… Continue reading >>

A cashless future? CNN speaks with Payments Cards & Mobile

Payments Cards & Mobile is one of the featured contributors to a new CNN article examining new cashless payment technology including contactless cards and mobile payments. The article, which is part of CNN’s ‘Future Finance’ series, looks at how new ways of paying and spending are leading to a rise in cashless transactions. The area that’s currently seeing the biggest… Continue reading >>

Boston Fed provides update on mobile payments

The Mobile Payments Industry Workgroup of the Boston Federal Reserve has released the outcome of its May 2014 meeting on the state of the industry in the US and has found relatively little change in terms of consumer protection and regulation. According to Susan Pandy, director of payment strategies at the Boston Fed: “The discussions revealed that the focus of… Continue reading >>

VeriFone signs mobile money deal with Airtel Africa

VeriFone Mobile Money and Airtel Africa, part of the Bharti Airtel Group, are teaming up to offer VeriFone Mobile Money’s merchant enablement applications for mobile ‘Tap n Pay’ services across their 17 operating companies in Africa. VeriFone Mobile Money will implement a full suite of retail enablement applications integrated to VeriFone’s range of payment devices across the group, enabling the… Continue reading >>

M-Pesa transaction fees cut

M-Pesa, the African mobile money phenomenon, will see its transaction fees for low-value payments being significantly reduced as its owner, Vodafone subsidiary Safaricom, prepares to fight competition from rival services in Kenya. Kenya’s Equity Bank is preparing to launch a service boasting lower transaction fees than M-Pesa, charging a 1% fee capped at KES 0.25. M-Pesa doesn’t cap charges but… Continue reading >>

IBM uncovers Android banking vulnerability

The message for Android is increasingly bleak in the context of security. After Android malware hits South Korean mobile banking customers and Android cyberattacks on 34 European banks it now appears that business heavy weight IBM has further bad news to add. One-in-ten banking apps are wide open to a malicious drive-by hacking exploit that exposes user credentials when visiting… Continue reading >>

Mobile payments to India through Pingit service

Barclays has launched new functionality allowing mobile payments to India through its Pingit mobile payments service in the UK, opening it up to the largest remittance market between the UK and another country. The app will allow users in the UK to send quick and easy payments using just a mobile number to friends, family or contacts in India. This is a… Continue reading >>