Payment processing firm Visa Europe has introduced a service allowing consumers to make mobile payments across the region immediately and using any European currency. Meanwhile in India, popular money transfer and payment service M-Pesa has now been fully launched.
French operator group Orange has formed a strategic partnership with payment provider Visa to accelerate awareness and everyday usage of contactless payment technology in France. The operator has also launched a mobile prepayment solution called Orange Cash in the country.
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.
Swedish firm iZettle has launched its mobile payment card reader service in Germany. The payment solutions provider has teamed up with financial institutions DZ Bank and Deutsche Telekom to provide small businesses with the ability to accept payments via Android and iOS smartphones.
Financial services firm Visa has carried out a study of the mobile money deployments in six emerging markets to find out how providers can generate high registration rates as well as high active usage in their target markets. The study found that the key barrier facing mobile money providers is their ability to understand the local vernacular to market their services effectively.
Mobile banking solutions must provide immediate benefits if they are to become successful – including the ability to complete a purchase in one click, support for contactless payment, and the ability to make small payments, according to senior market participants at the SIA Expo in Milan last week.
In an attempt to ignite take up of its m-wallet offering, Google has launched a cloud-based version of its wallet for its US users. As a result, users can now add Visa, American Express and Discover credit and debit cards, as well as MasterCard, to their wallet.
Mobile payment firm iZettle has been forced to stop processing Visa card transactions in three European markets. The firm provides apps and hardware to transform iOS and Android devices into payment card readers, using a small hardware unit.
Financial services firm Visa continued its expansion into the mobile payments space by announcing a preferential partnership with Telefónica in Europe.
The mobile financial services community is celebrating the tenth anniversary of mobile money. The first ever mobile financial service was launched in Zambia in 2002. It was launched by Celpay, and powered by Visa-owned Fundamo. The service was the first in a movement that has fundamentally transformed the way unbanked and under-banked people in developing nations use financial services.
Financial services firm Visa Europe has said it will launch the V.me digital wallet on a controlled basis in the UK, France and Spain in the autumn of 2012.
Financial institutions like Visa have spent the last 20 years laying the rails for international payment systems. Visa is now leveraging those frameworks to mobilise the commerce experience.
Financial services provider Visa Europe said Wednesday that it intends to take a 15 per cent stake in the Mobile Money Network (MMN) – a joint venture between Monitise, Best Buy Europe and Carphone Warehouse, and telecoms entrepreneur Charles Dunstone (as a private investor).
The carrier is offering Orange Money subscribers in the region applications such as person to person transfers, bill payments, and agent-based cash-in and cash-out services for loading or withdrawing funds.
Payment provider Visa has announced the launch of launch of mobile services that allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transaction alerts on their mobile devices.
Payment processor Visa has launched a mobile banking product to serve consumers in developing nations. The company said that its Prepaid Mobile offering will provide an open platform for existing mobile money systems.
Financial services provider Visa Europe has invested £24.7m in mobile payments platform Monitise, giving the latter a greater European presence. Monitise is also consolidating its position in the US by buying out its partner in its US operation.
It’s hard to escape the mobile money land grab at the moment. In the last few weeks I’ve written the word ‘m-wallet’ more than ever before in such a short time. But while the players involved say there’s enough pie to go around, it might not be to everyone’s taste.
UK carrier O2 has announced the companies it will be partnering with to deploy its mobile wallet service in the second half of 2011. O2, the UK arm of Spanish incumbent Telefónica, said it would be working with Wave Crest, FIS, Intelligent Environments and Visa Europe.
Isis, a mobile payments joint-venture between AT&T, Verizon and T-Mobile in the US, has scaled back its initial plans to roll out its own mobile payment network in favour of an m-wallet-style offering.