Mobile Money 2019

According to new research the mobile money market is expected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a compound annual growth rate (CAGR) of 44.6% during the forecast period from 2014 to 2019. In terms of regions, MEA is expected to be the biggest market in terms of market size, whereas APAC and NA are expected to experience increased market traction, during the forecast period.

Jack Henry Adds RDC to mBanking App

Jack Henry & Associates payment processing services announced its app-based iPhone and Android versions of the “goDough” m-banking has added remote deposit capabilities provided by its Remote Deposit Anywhere (RDA) solution. The “goDough” solution offers WAP, SMS, or app-based mobile banking through 610 banks and credit unions have selected. It is currently supporting 99 mobile service carriers. It supports traditional in-branch and online transactions such as balance inquiries, funds transfers between accounts, and transaction viewing; and accommodates all account types, including checking, certificates-of-deposit, money markets, loans, and lines-of-credit. Checks are photographed using smartphone and tablet cameras or scanned using flatbed scanners, converted into electronic transactions, and processed through the ACH or Check 21 image exchange networks.

San Antonio Federal Credit Union Adopts WRG and Vertifi mBanking

Wescom Resources Group (WRG), a provider of software and technology service solutions for credit unions, and Vertifi Software, LLC (Vertifi), a WRG eco-system partner, announced that SACU, (San Antonio Federal Credit Union – $2.96 Billion assets, 255,511 members) has deployed WRG’s MemberEdge Mobile Banking solution, which went live to members May 6, 2012. The mobile…

net mobile AG to present at the Mobile World Congress

net mobile AG announced that it exhibits at Mobile World Congress 2011, the world’s largest mobile industry trade show, to be held in Barcelona, Spain, from February 27 till March 1, 2012. Payment and Banking: net mobile AG presents a variety of payment and banking solutions in Barcelona, including m-payment with Web- and Wap-, Premium SMS- and InApp-Payment, e-Payment with Credit Card Issuing and Acquiring as well as mobile operator solutions such as Carrier Billing for diverse marketplaces. With net-m’s Google Carrier Billing solution for example, consumers can simply pay for applications downloaded within Google’s Android Market via their mobile phone bill. The payment amount will be directly debited from the customer’s invoice, resulting in a very convenient shopping experience for the end-user. Mobile operators can now provide an added value with a secure alternative payment method in Google’s Android Market. With net-m’s innovative payment architecture, they also profit from an easy to implement and cost-effective payment interface offered as a full-managed service.

Obopay partners Warid Telecom

Obopay mobile banking and payment solution provider collaborated Warid Telecom to launch a mobile banking and payment service, “Warid Pesa.” The “Warid Pesa” offering provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts. It is based on Obopay’s open and interoperable mobile money solutions, which now support millions of customers globally for some of the world’s largest brands. It ultimately offers new channels of distribution for offering financial services that are useful in areas with income disparity. It facilitates Person-to-person mobile money transfer; Person-to-merchant mobile money transfer; Send money to anyone; Request money; Obtain a mini statement of the account; Balance inquiry; Change Personal Identity Number (PIN); and Top up prepaid cell phones.

Synovus Bank Launches m-Banking App

Synovus Bank, the Columbus, Georgia-based, FDIC insured bank, has introduced the new Synovus Mobile Banking, a free mobile banking solution which can be accessed by virtually any mobile device. The solution features iPhone, Android and Blackberry apps as well as text and web browser (WAP) solutions. Synovus Mobile Banking delivers easy, quick and secure banking access via any mobile device, letting users see account balances; recent transactions; funds transfer; pay bills and find branches.

Jiepang Location-Based Social Mobile App Partners Starbucks

Jiepang location-based social media app partnered Starbucks to embark on the final part of a holiday promotion by using a combination of outdoor advertising, NFC technology, location-based service and social media to create rich and engaging experiences for consumers. Now from Nov 8 to Dec 17 Jiepang users who “check-in” at a Starbucks store will receive a virtual Starbucks badge. When the number of badge issued hits 30,000, the virtual Christmas tree at Starbucks’ event webpage will fully light up, and those who have collected the badge will be able to enjoy a free upgrade – a bigger size of drink at Starbucks between Dec 17 and Dec 25.

Global Mobile Payment Transactions to Total $945B in 2015

IE Market Research Corporation (IEMR) released its 3Q/11 Global Mobile Payment Market Forecast 2011- 2015, projecting the gross value of global mobile payment transactions will reach $945 billion in 2015, about a 30-fold increase from the comparable figure of $31.5 billion for 2010. IEMR’s Global Mobile Payment Market Forecast covers annual forecasts of mobile payment users, transactions by technology (NFC, SMS, WAP, USSD), and by type of purchase (merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups). According to IEMR, there were 1.5 billion NFC transactions globally in 2010. It forecast the comparable figure to jump to 55.3 billion in 2015, a compound annual growth rate of 105.2%.

MoMagic Partners With MediaTek

MoMagic Technologies partnered with MediaTek fabless semiconductor company for wireless communications and digital multimedia solutions. With the synergies of both companies, this business cooperation aims to boost the Mobile VAS market, which is projected to see over 100% growth in next 3 years. In 2011 MoMagic was incorporated with a vision to cater to the escalating demands of Mobile VAS for users across all segments with special emphasis on entry and mid-level segment. MoMagic has plans to offer innovative solutions using different mobile connectivity mediums of SMS, USSD, Voice, WAP, 3G & Mobile Applications. MediaTek is a market pioneer in cutting-edge SOC system solutions for wireless communications, high-definition TV, optical storage, DVD and Blu-ray products.

Technology Credit Union Introduces m-banking apps

Technology Credit Union deployed its next generation Mobile Banking, offering native applications for the iPhone, iPad, iPod Touch and Android devices. This lets members check account balances and track activity, transfer funds and pay bills, as well as find the nearest surcharge-free ATM or branch location. The applications have already been downloaded more than 2,000 times, with the iPhone app scoring a 5-star rating and the Android scoring 4 stars. This next generation of Mobile Banking also includes a new and improved Mobile Browser (WAP) for compatibility with all other smartphones.

CashEdge Launches Quick Prepaid Service

CashEdge Intelligent Money Movement services expanded its “Popmoney” payments with the introduction of its “Popmoney for Prepaid” solution. Giving prepaid card users the ability to reload their cards online, and the ability to easily request money from, or send money to, other people via email or text, “Popmoney for Prepaid” is available to prepaid card issuers, processors and program managers. CashEdge initially announced agreements to integrate “Popmoney for Prepaid” with TxVia’s prepaid card processing platform. TxVia’s program manager and issuer clients will be able to offer their prepaid cardholders the ability to reload funds electronically onto an existing prepaid card using the Popmoney service.