mobile money

Fiserv Inc announced that it now serves over 375 financial institutions with its Mobile Money mobile banking and payments solution. The company says that about 200 of these banks and credit unions are already live on the service, a double growth over the past 12 months. Number of consumers using the service increased by 600% within the past 6 months.

Monitise, a mobile money outfit, launched a new research and development technology center in South Wales that will initially create 40 new jobs. The new center will be focusing on the development and testing of mobile banking, payments and commerce services.

Monitise says it chose Wales because of the expertise within local universities including the University of Glamorgan's Centre of Excellence in Mobile Applications and Services, which already works with a number of key players in the mobile industry.

Global Mobile Money solutions provider Monitise is launching its first mobile money apps for Android handsets in the United States,

The new applications are based on the company’s Globe technology platform to offer a range of fast and convenient services to users, including account balance inquiries, mini-statements, money transfer and bill payment.

The new apps complement the existing suite of text, secure browser and smartphone (iPhone, Blackberry and mobile web) services provided in the US by Monitise.

UK mobile money operator Monitise has obtained a provisional license from the Central Bank of Nigeria to implement mobile payment services across the country.

Using its Globe platform Monitise will be offering financial services over the mobile phone to the unbanked, including savings, insurance and pensions. The service will also see the first deployment of the Monitise Mobile Wallet solution.

The implementation of the project will be partially subsidized by the Africa Enterprise Challenge Fund which has assigned $1.5 million to the project.

Barclays Bank has become the 8th bank that is partnering with African telco Safaricom to offer its Kenyan account holders M-Pesa mobile money services.

Now bank account holders can deposit and withdraw money using their mobile phones while M-Pesa agents who bank with Barclays can also use the system to buy their electronic float for their daily operations.

Monitise has launched an enhanced suite of mobile banking and payment services in a move to deliver fast, secure financial management by mobile phone across the world. Deploying the platform financial institutions, mobile phone networks, service providers, payment companies and processors can offer a wide range of Mobile Money services in both developed and emerging markets.

The suite delivers the following products:

A mobile payment provider Obopay added new functionality for its Mobile Money for Banks offering, broadening the scope of mobile transaction capabilities for banks and their customers.

The solution from Obopay enables complete brand control and a full range of mobile transactions and applications with simple low-cost integration and deployment. With the new functions Mobile Money for Banks solution will allow users to transfer money between banks and accept card payments and electronic checks.

The new functions for Mobile Money for Banks include:

A mobile money solutions provider Obopay has entered into an agreement with the STAR Network, a First Data company and a leading debit network. The partnership will enable Obopay to incorporate the Star Expedited Transfer Service into its own Mobile Money for Banks offering. The Star Expedited Transfer Service enables real-time transfers between Star accounts.

A mobile money transfer provider VoiceCash launched its first branded twin cards. The new VoiceCash MasterCard Prepaid Cards will be issued through the Newcastle Building Society in Great Britain and customers will be able to register for them online at www.voicecashcard.de, a new dedicated website. In addition to initial registration this new website will allow customers to track their card-based money assignments in real time.

KeyBank became one of the first US banks to deploy a joint solution of Fiserv and M-Com dubbed Mobile Money. KeyBank will be offering mobile banking to all customers irrespective of their enrollment for online banking services. It can be used by those who use online banking as well as offline clients who use the branch channel.

M-Com, an international mobile banking solutions provider, launched a complete 'Software as a Service' (SaaS) version of its globally deployed mobile banking and payment platform – BankAnywhere labeled as BankAnywhere ASP Edition.

The development of the new service was helped by Fiserv who also incorporated BankAnywhere ASP Edition technology into Mobile Money™ from Fiserv.

 IE Market Research Corporation has announced the release of its 3Q.2010 Global Mobile Payment Market Forecast, 2010 – 2014, based on its Global Consumer Telecommunications Survey covering 50,000 mobile users in 50 markets worldwide.

Fiserv, Inc., a global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, has announced that 150 credit unions have chosen Mobile Money™. The success of Mobile Money can be explained by its easy integration with other Fiserv solutions, including its Portico™ account processing system and Virtual Branch. In the first three months, more than 313 members of Call Federal Credit Union signed up for Mobile Money. 

Vodafone and Doha Bank have partnered for the launch of a mobile money transfer service for Qatar customers. According to the official statement the service is scheduled to go live early next year. Using it customers will be able to send money to friends and family overseas, or locally, via a mobile phone.

Customers should apply for a Vodafone Money Transfer (VMT) account from Vodafone Qatar in order to avail themselves of the service. After the registration customers can load money onto their mobile phone from Doha Bank e-branches or directly via a bank transfer.

A leading global money transfer services company MoneyGram has entered into a partnership agreement with National Bank of Abu-Dhabi in a move to provide international money transfer services via mobile phones all over the UAE. NBAD is the first MENA bank to allow international remittances via mobile phones to more than 200,000 locations across 190 countries worldwide.