M-Money Report
CardWeb.com’s CardData Reports today features the Global Mobile Money Services 2015 report from WiseStrokes.
CardWeb.com’s CardData Reports today features the Global Mobile Money Services 2015 report from WiseStrokes.
Malauzai mobile banking SmartApps for community financial institutions, has released “Monkey Insights,” a monthly research service based on the company’s Real-Time Experience Behavioral Analytics (REBA). Monkey Insights will reports on two indices: The Mobile Engagement Index (MEI) which tracks end-user engagement with mobile banking and the M-Money Index (MMI) that summarizes statistics related to mobile money movement such as transfers, bill payments and deposits. Malauzai will analyze the user behavior associated with more than 350,000 unique logins and nearly 52,000 registered users to provide a summary index for both engagement and money movement. The MEI shows how end-user engagement with mobile banking changes over time, exploring metrics such as login frequency, feature usage and overall end-user activity to derive a unique engagement score.
MasterCard kicked off its “MasterCard Mobile Money Partnership Program” global initiative to help more than 2.5 billion financially-underserved consumers worldwide gain access to formal financial services through their mobile phones. In partnership with Comviva, Sybase 365 and Utiba, this will let consumers purchase goods and services via their mobile phones at millions of brick and mortar and online merchants worldwide, as well as transfer funds and pay bills. This is designed to target the 70% of the global population with a cell phone, only half of which have a bank account. The “MasterCard Mobile Money Partnership Program” offers prepaid companion cards that account holders can use at merchants that accept MasterCard cards; virtual card accounts that can be used for eCommerce payments with a user’s mobile money account; and person-to-person payments between subscribers of two different mobile money services.
Western Union and Vodacom Tanzania partnered to allow consumers to visit one of more than 108,000 participating Western Union Agent locations in 65 countries worldwide and send money directly into the mobile wallets of any “Vodacom M-Pesa” subscriber. Western Union continues to offer choice and convenience to consumers worldwide, and its mobile money transfer program allows people to send and receive funds how, where and when they want. The “Vodacom M-Pesa” first launched in 2008 and now has more than 9 million customers and handles more than a million transactions per day. It offers an affordable, fast, convenient and safe way to pay for numerous services.
Mint Technology has formed its “Mint Money” (“M-Money”) subsidiary, established to address the opportunity within Mint’s existing cardholder base for Money remittances within the UAE and internationally. Mint’s core business is in the UAE and is the largest non-bank financial firm servicing over 400,000 foreign labor employees with a payroll card. Mint will first launch its Microfinance program in Q1 2012 followed closely by its Money Remittance and Mobile top up programs.
The Qtel Group launched its Mobile Money service “mobile wallet” (mWallet) solution. This lets users transfer money in Qatar and overseas through the mWallet. The Qtel Mobile Money service opens up a huge range of possibilities for customers and is as easy to use as a mobile phone. Customers will also be able to use their mobile phone accounts to save and send money, top up their credit, make payments and transfer airtime to friends, relatives, employees and partners.
NetOne network operator is deploying Gemalto’s “LinqUs” solution for Mobile Money Transfer, which comprises of the server, user application, as well as system integration services. Marketed as the “OneWallet” service for the underbanked, “LinqUs” works on 100% of the handsets and will enable all NetOne subscribers to perform secure and convenient money transfer using their mobile phone. Its interface lets subscribers make secure and easy peer-to-peer money transfers, pay every-day bills and top up their prepaid phone cards. It alsolets NetOne’s customers to have their salaries paid directly onto their phones – an innovative feature that greatly empowers the unbanked with a secure and convenient digital wallet solution.
O2 is applying to the UK’s FSA for an e-money license later this year. This will let it offer financial services and facilitate payments without a banking partner and is in conjunction with having set up a personal finance unit last year. It also coincides with Everything Everywhere announcements to team with BarclayCard to launch the UK’s first commercial contactless mobile phone payments system. O2 has also participated in contactless mobile payments trials for London’s Oyster card and partnering with high street bank NatWest to launch Visa pre-paid cards.
Monitise m-Money solutions provider announce its 2H/10 fiscal period reached month-on-month cash break-even, in line with guidance given at time of the full-year results for the year to end-June 2010. Throughout the period, the Company broke over 3 million registered customers; customer adoption of its smartphone apps continues to be strong and to have a positive effect on usage; and its Globe Platform continues to grow strongly and in December processed more than 13 million transactions.
Canadian-based EnStream has partnered with Western Union global payment services to allow its “Zoompass” users to send cross-border and domestic money transfers directly from their mobile phones. The “Zoompass” solution provides Canadians a way to send, receive and request digital currency within Canada using their mobile phones. With the Western Union partnership, users will be able to send funds directly from their mobile wallets while recipients can pick up their funds in cash at more than 380,000 Western Union Agent locations in 200 countries and territories. Zoompass users also will be able to send mobile-to-mobile transactions to subscribers of mobile phone companies with whom Western Union has launched the Mobile Money Transfer service.
Canadian-based EnStream has partnered with Western Union global payment services to allow its “Zoompass” users to send cross-border and domestic money transfers directly from their mobile phones. The “Zoompass” solution provides Canadians a way to send, receive and request digital currency within Canada using their mobile phones. With the Western Union partnership, users will be able to send funds directly from their mobile wallets while recipients can pick up their funds in cash at more than 380,000 Western Union Agent locations in 200 countries and territories. Zoompass users also will be able to send mobile-to-mobile transactions to subscribers of mobile phone companies with whom Western Union has launched the Mobile Money Transfer service.-The Western Union Company (NYSE: WU), a leader in global payment services, and EnStream LP, creators of the Zoompass Mobile Walletâ¢, today announced a strategic alliance that will allow Zoompass users to send cross-border and domestic money transfers directly from their mobile phones.
Consumer demand for mobile money transfer services will see users exceed
500 million globally by 2014, principally in developing countries. Many
new mobile money services being announced will face political,
regulatory or commercial challenges as they bring their services to
market. This, according to Juniper Research’s ‘Mobile Money Transfer &
Remittances: Markets, Forecasts & Strategies 2009-2014’ report, also
shows sophisticated mobile financial services can add to the
attractiveness of mobile money services. Meanwhile, Africa & Middle
East, Far East & China and India will be the leading regions for
national mobile money transfer services in 2014.