Pundits have focused on carrier end run but missed the upside for merchants, others.
The latest version of Android, KitKat, introduces a new platform for secure NFC transactions without the need for a secure element. This article describes the domino effect that Host Card Emulation will trigger in the NFC industry: Mechants, carriers, scheme providers, device manufacturers, TSMs, etc. are all impacted.
See on www.mobilepaymentstoday.com
Android 4.4 brings a major change to NFC payments that could finally be the kick in the butt that Google Wallet needs.
The discussion now moves from "where should the secure element be?" to "should there ever be one?" Would be interesting to watch the reaction of the GSMA and of device manufacturers.
See on www.talkandroid.com
Even though much of the world’s population has access to many different options for making payments without it, cash still persists. As a way of making payment, cash takes time to get at, is riskier to carry, and by some estimates, cash costs society as much as 1.5% of GDP. Electronic payments on the other hand have been proven to boost economic growth, while advancing financial inclusion. It is for these reasons that countries around the world are working to make their payment systems less dependent on cash.
This new global report from MasterCard tracks 33 major economies and measures where they stand from going cashless. The report identifies the key factors that are driving this move and classifies countries in four categories: inception, transitioning, tipping point and nearly Cashless.
See on www.mastercardadvisors.com
When iOS 7 is released next week, retailers and other large indoor spaces are going to be able to use a technology called iBeacon to send data over short distances to iPhones. Here’s how it will work.
The use of iBeacon for payments may not be that straight forward. The concept of "card holder present" needs to be supported by evidence like making contact between the user device and the payment terminal. Another complexity is related to the security aspect that has been thoroughly analyzed and standardized for NFC.
This being said, it is always thrilling to see a new type of access emerging, and with it, a whole lot of new usage possibilities.
See on gigaom.com
- Agreement will enhance Zain’s existing mobile-money offerings and support the roll-out of much needed mobile-commerce services in other markets
- Customers will be empowered to pay bills, top up accounts, transfer funds and much more from their mobiles - See more at: http://www.zain.com/media-center/press-releases/zain-group-selects-eservglobal-to-supply-mobile-money-solutions/#sthash.oKFbh1ea.dpuf.
This is a major achievement for eServGlobal that consolidates its leadership in the Middle-East and Africa for Mobile Money.
See on www.zain.com
A new study released this week by CGAP on International Remittance through Branchless Banking highlighted some key trends in remittances and mobile over the past 12 months. In particular the study focussed on the role that international remittance has to play in the success of domestic mobile money deployments. Read the rest of this entry »
Tom Harper, publisher of ATM Marketplace and Mobile Payments Today, discusses what happens when a ubiquitous technology meets a disruptive upstart.
In the case of the convergence of ATMs and mobile devices, Harper is firmly on the side of those who believe the future lies with a combination of the technologies. He’s closely watched the emergence of the technology since first hearing about it some years ago.
One other evidence of the convergence between mobile and financial services. Here the mobile interacts with the ATM as the authentication device to access the financial services for the banked. In other geographies, the ATM becomes the access point for cash-in, cash-out, money transfer or bill payment out of a mobile money account for the unbanked.
See on www.mobilepaymentstoday.com
All the customer needs is to be registered for mobile money with any network in Uganda. Then the customer must have the Imara card and money on their phone. Such a customer can pay for goods and services using this card at any of the Imara Points of Sales (PoS).
The card will prompt a pop-up on your phone and ask you to confirm payment. Then you type in your Personal Identification Number (Pin) of mobile money on your phone and money for the good is automatically taken off.
“That’s it; your transaction is done there and then,” says Jogoo.
A first step before closed loop mobile money implementations go open loop, and connect with the global EMV schemes.
See on mobilemoneyafrica.com
In Latin America, the banking sector is highly rooted in the economy, and to think about non-bank issued electronic money is almost heretic. But things are changing.
New regulatory frameworks are emerging to allow financial inclusion by making mobile money accessible to the non banks, not only telcos are concerned but payment aggregators and agent network managers are jumping on this opportunity to monetize the value of their significant footprint and cash management infrastructure.
See on www.cgap.org
PAYING for a taxi ride using your mobile phone is easier in Nairobi than it is in New York, thanks to Kenya’s world-leading mobile-money system, M-PESA. Launched…
Some argue that bringing free money into the regulated economy might hinder the entrepreneurial spirit, these need to check-out the following statement: "One study found that in rural Kenyan households that adopted M-PESA, incomes increased by 5-30%. In addition, the availability of a reliable mobile-payments platform has spawned a host of start-ups in Nairobi, whose business models build on M-PESA’s foundations. ,"
See on www.economist.com