banking service

mCheck, a leading mobile payment provider, and Swayam Krishi Sangam NGO, a registered society that acts as a Business Correspondent intermediary for banks, have partnered to launch an innovative model for cash-free microfinance for unbanked and under-banked customers.

Tesco PLC's expansion into the U.S. and Asia markets as well as its nascent banking services helped boost the U.K.-based supermarket giant's third-quarter sales amid lingering recessionary conditions in some of its markets.

Mercatus LLC, a financial services strategy consulting and investment firm conducted a survey showed that banks offering mobile financial services can increase new customer acquisition by as much as sixty percent. The six-month consumer research study survey, sponsored by Visa, examined the impact of mobile financial services, including mobile banking and payments, on consumer decision-making, specifically when it came to selecting retail banking services.

The GSM Association representing the global telecom industry predicts the number of people using mobile phones for money transfers will grow exponentially in the next few years.
Mobile phone banking has a bright future and mobile operators also see that. And Kenya is one of the places where this is quite evident. The nation's biggest mobile phone provider, Safaricom, says the user base for its M-Pesa mobile money service has doubled in just one year.