Mobile money firm Monitise has acquired Istanbul-based mobile technology specialist Pozitron Yazilim, in a £24 million all-shares deal that highlights the growing demand for mobile financial services in the eastern Mediterranean’s largest market.
The rise of bring your own device is posing a major challenge for banks and financial markets firms, as the growing variety of handsets on the trading floor complicates efforts to enforce the UK’s mobile call recording obligations.
Brazilian banking group Bradesco is planning to roll out NFC mobile payments across Brazil by summer 2014, through a partnership with mobile operator Claro and SIM card provider Giesecke & Devrient.
Turkish mobile operator Turkcell and the country’s Garanti Bank and have partnered with Visa Europe in a deal aimed at bringing the Turkcell mobile wallet to more consumers in Turkey.
A new mobile voice recording service is being developed by UK tech company Voxsmart, which it claims is the first to automatically capture every type of communication on a mobile device so that it can be used for trading compliance purposes, including the FCA in the UK and Dodd-Frank in the US.
A UK technology company has created a banking app that promises to help customers keep track of their finances at a glance, interfacing with the Pebble smartwatch which launched launched in January 2013.
The latest version of the Isis mobile wallet service has been launched across the US, following 18 months of testing in Texas and Utah by AT&T, T-Mobile USA and Verizon Wireless.
Andrea Galeazzi, director of network services at Italian payments and technology infrastructure company SIA, has taken up a new role as chairman at Italian telecoms firm Emmecom. The move is part of SIA’s acquisition of the smaller firm, which took place in July and forms a key part of its European expansion plans.
Fewer than one in four of UK consumers would use their smartphone like a credit card to make payments even if they had the relevant app, according to a new survey carried out by YouGov on behalf of outsourcing firm Firstsource Solutions.
A new mobile payments network called YellowPepper has launched in Colombia, marking the beginning of a massive project to bank the unbanked and sweep away the dominance of cash across the Spanish-speaking Americas.
Operator group Orange is planning to launch a set of mobile payment services in Botswana and other countries in Africa and the Middle East, which it says will easy access to funds around the clock and bring new point of sale, online and ATM transaction options to customers.
India’s ICICI Bank is to launch a mobile payments service built by Movida, the Indian joint venture between Visa and mobile money specialist firm Monetise, that will draw on the potential to reach unbanked customers in the country.
Alior Bank, Bank Millennium, Bank Zachodni WBK, BRE Bank, ING Bank and PKO Bank Polski intend to build a common infrastructure including standard authorisation and settlement. The system will be open to all market participants, including other banks, and will support abilities such as mobile cash withdrawal from ATMs and mobile money transfer.
Telefónica has partnered with Spanish banks La Caixa and Santander to deliver mobile payment services and a digital wallet. Users of the new service will be able to gather all their credit cards into the new digital wallet; they will also be able to send and receive funds via their mobile phone. Bank account details will not be necessary; all the sender needs is the recipient’s phone number.
Disruptive digital technologies such as mobile communications and the internet will destroy established retail banking business models, according to financial sector commentator and author Brett King, by removing the physical product and replacing it with a digitised bank account.
Senior executives from the financial sector are split over the extent to which mobile payment technology has failed to take off – and what they can do to fix it.
Spanish bank Banco Santander has signed a deal with iZettle, a fledgling Swedish payments specialist that focuses on ‘social’ payments. The two companies plan to distribute mini chip-card readers to customers, so that they can accept card payments with smartphones and tablets.
Commerzbank has adopted a visual transaction signing tool from UK security firm Cronto for its online banking customers, designed to protect against Trojan malware.
As uptake of mobile banking services is predicted to reach one billion by 2017, banks are starting to view the mobile channel as an indispensable revenue stream, according to Nitin Bhas, senior analyst at telecoms research firm Juniper Research.
NFC technology advocates face continued disappointment in 2013 as it is likely to be overshadowed by other developments in retail payments, according to a report by financial research firm Celent.