SCB Pakistan Launches Breeze - A Mobile App

Standard Chartered Bank, one of the leading private bank in Pakistan launches Breeze Mobile - A mobile app & Wap for mobile users. By this service SCB existing customers with Internet Banking account can access the account, perform fund transfer, buy mobile top up etc.
If you own an iphone than you can download it from App Store, for all phone users, they can access it by visiting to http://m.sc.com/pk.

By all means this is not a mobile banking, which other banks like Faysal Bank, MCB are offering in Pakistan.  In which your mobile banking account is separate from internet banking & it requires customer to call help line to activate it. But this is different, you just need to download the app & login with your internet banking account credentials.

There is not much information on how secure this mobile app is. I think we should leave it for time to decide. For now if you are SCB Pakistan internet banking user, you should definitely give it a try.

For more info: Breeze Mobile

Faysal Bank launches Mobit - Mobile Banking Platform

Faysal bank, one of the leading bank in Pakistan have launched mobile banking services for the customers. This provides another channel for the customers to interact & avail Faysal Bank services. By this service customers can check there balance, do fund transfers, pay utility bills, mobile top-ups etc.

This service is launched on Fundamo - A VISA company product. Which is one of the leading mobile & branch less banking platform in Pakistan with Easy Paisa, MCB Mobile etc also in part of its successful implementation.

This service for sure will be a great value add for Faysal Bank's customer, but how this service will differentiate to other leading mobile banking services in the market to attract new customers remains to be seen.  For now if you have an account in Faysal Bank, than do try this service. 

For more info visit: http://www.mobit.com.pk

Dubai Islamic Bank and flydubai launch online booking payment service

 Dubai Islamic Bank (DIB) announced today the launch of a new booking payment method for flydubai and DIB customers via Al Islami Online Banking.

This new service makes travel bookings even easier for DIB customers, who can now book and pay for flydubai bookings without a card and from the comfort of their homes or offices. The bank is also in the process of enabling flydubai payments through Cash Deposit Machines (CDM) for both DIB and non-DIB customers. The signing ceremony took place at the bank's head office, and was attended by senior officials from the bank as well as the Dubai-based airline.

Philadelphia-area bank to accept check deposits from mobile phones

Customers of Conestoga Bank in suburban Philadelphia soon will be able to deposit checks from their mobile phones as part of an agreement the bank signed Monday with J&B Software Inc.
J&B Software, a payment processing, imaging and electronic content-management company, will provide a hosted mobile-deposit solution for Conestoga customers, enabling them to deposit checks into their accounts from their iPhone, Blackberry, Android and other cellular phones, says a J&B Software spokesperson.

Conestoga Bank decided to offer customers check deposits from their mobile phones because J&B Software’s hosted service reduced many of the upfront costs of installing a mobile-deposit system, Richard Elko, president and CEO of Conestoga Bank, tells ATMMarketplace.
Conestoga Bank, which is based in Chester Springs, Pa., will launch the mobile-phone deposit service later this year. "It will be available in September after summer ends," Elko says.

People Using Iphones as Wallets

New iPhone case turns phone into mobile wallet

In the near future, customers may be able to use their iPhones as creditcards. DeviceFidelity has built an iPhone case that will enable an iPhone itself to be used as a form of payment. Customers would be able to leave purses and wallets at home, carrying only their iPhone, and make purchases. While similar devices are commonly used in Japan, DeviceFidelity’s website will run trials in the second quarter of 2010 for North American usage.

Source: ATM Market Place

Branchless Banking is just 19% cheaper than Traditional Banks

According to the recent CGAP’s global pricing study report on banking services targeting poor, unbanked and under-banked people in Africa, Asia and Brazil, mobile banking and other forms of branchless banking are found to be cheaper than traditional banking, but the gap between the two is not a very significant one. The study, conducted across 16 providers and 10 countries finds that on an average, branchless banking is just 19% cheaper than traditional banks. 

The study analyzed the services of branchless banks like Afghanistan’s M-Paisa, Brazil’s Bradesco and Caixa, Cambodia’s Wing Money, India’s Eko, Kenya’s M-Pesa and Zap, South Africa’s Mobile Money etc. It found that by comparing 26 branchless banking pioneers and traditional banks with products aimed at the same kind of customers, on average, branchless banking is 19% cheaper across eight services. These services included money transfer, short‐term safekeeping, medium‐term saving for asset, bill payments, high usage (as a proxy for financial inclusion) average monthly transactions per M‐PESA user in 2008 and average monthly transactions per Kenyan banking customer in 2008.

Sun National Bank Goes Mobile With mFoundry

Multi-Mode Sun on Hand(TM) Solution Allows Customers to Bank from Any Mobile Device

Sun National Bank announced today that it has partnered with mFoundry to launch Sun on Hand(TM), a state-of-the-art, fully integrated and comprehensive mobile banking solution for its customers. Featuring text messaging, mobile web and application technology, the program makes financial management possible anytime, anywhere for people with mobile phone access.

Sun on Hand(TM) provides Sun National Bank customers with secure access by allowing them to check account balances, search transaction history, transfer money, and pay bills via their mobile device. Launched in late February 2010, the integrated program supports interactions via instant text messaging (SMS), mobile web browser, and mobile applications for use on the iPhone, iPod Touch, Blackberry and other major devices. Recognizing that today's banking consumers seek enhanced connections to their financial institutions, mobile banking helps redefine convenience.

Android owners are top mobile banking users

Oddly enough, iPhone users aren’t those most likely to be doing their banking via mobile device. Instead, Android users are the most frequent users of mobile banking technology, according to a report by Javelin Strategy & Research.


The report, which focused on the expected rapid increase in consumer use of mobile banking, found Android owners were the most likely to have logged into their bank’s mobile site in the past seven days. iPhone users came in second.

Mobile banking popular and growing fast
Though mobile banking still lags behind traditional banking and online banking in terms of popularity, smart phone users are adapting to the technology quickly.

Nearly half of iPhone and Android owners use mobile banking at least once every three months. That total is nearly triple the average for all consumers. About 20% of all consumers expressed interest in banking from their phones. But as smart phone penetration grows, that number is expected to rise as more people adopt mobile banking, according to the report.

Source: My Bank Tracker

Sybase Announces Sybase Mobility Platform

Sybase is unveiling its Sybase Mobility Platform, a framework for bringing business applications and services such as banking and analytics to mobile devices. Many of those applications leverage SAP products such as SAP Business Suite, although Sybase executives are not saying how SAP’s recent $5.8 billion acquisition of Sybase will ultimately affect the Sybase Mobility Platform’s future roadmap. The Sybase Mobility Platform involves several components, including mobile servers, mobile applications, and mobile services.

Sybase unveiled the Sybase Mobility Platform, a framework for bringing business applications and services such as banking and analytics to mobile devices, on May 20. The platform features mobile servers, applications and services operating in tandem. The more prominently featured initial applications include Sybase Mobile Sales for SAP CRM and Sybase Mobile Workflow for SAP Business Suite, reflecting the close partnership that eventually led to SAP’s recent bid for Sybase.

State Bank of India launches State Bank freedoM - Mobile Banking Service

Customers can transfer funds, view the balance & mini statements of their accounts, pay bills, request for cheque book, recharge prepaid mobile connections, view Demat Account details, top up Tatasky/ Other DTHs and conduct mCommerce transactions.

State Bank Mobile Banking Service, “State Bank freedoM”, was launched in March 2009 on a pilot basis in all the branches of State Bank of India offering its retail customers another alternate channel for simple, convenient, secure, Anytime Anywhere Banking experience. Registration for the Service has been enabled at ATMs and customers holding Debit Cards can register for the facilities without visiting any branch. The service is offered free of charge by the Bank. However, the customers will have to pay the charges levied by the telecom operators for the SMS/ GPRS.

Western Union, Absa to Offer Cross-Border Money Transfers via Internet and Mobile

First Money Transfer Service in World to Offer Seamless Platform Across Multiple Electronic Channels

South Africa's largest retail bank, Absa, and Western Union, a leader in global payment services, have enhanced their joint service offering to Absa accountholders by allowing them to conveniently access the Western Union(R) Money Transfer(SM)service to send or receive cross-border money transfers using either a cell phone or Internet banking.

Absa -- voted as Africa's most innovative bank -- and Western Union have developed a convenient solution for Absa accountholders wanting to transfer money to friends and family living abroad.

Pakistan Telecommunication Authority focuses on VAS on Mobile

Chairman Pakistan Telecommunication Authority (PTA) Dr. Mohammed Yaseen said PTA’s focus is on Value-Added Services (VAS) through mobile 2.0 applications in the high penetration mobile telephony services. He was addressing in Connect 2010 ICT Forum – Telecom Session . “I very much foresee the further development of presently available technologies and those coming ahead through value added services and content.” Yaseen said emphasis has been shifted on e-commerce, e-agriculture and e-education that open the doors of opportunities to young innovative minds, bridging unseen gaps between all potentials players of ICT proliferation. “The growth has shown positive signs while the revenue collection also increased and we look forward to continuing our revelation of promoting ICT sector of Pakistan through a joint collaborative approach.” He said the future ICT technologies are likely to evolve twofold in shape of “Internet of Things” where everyday objects can make simple communications on-line, and “Innovation Ecosystems” for dynamically exchanging resources, applications, services and knowledge. He added that in response to transparent policy and regulatory apparatus, our market has observed liberalisation, greater private sector participation and competition. PTA has sent the draft of Third Party Regulation for branchless banking to the State Bank of Pakistan. “We have proposed to promote mobile banking in the country and want to encourage multiple branches and multiple mobile companies. We are waiting for the response”, he said. Responding to questions regarding access of police to CDR, he said this is confidential data and the matter will be resolved by Interior Ministry by formulating SoP in this regard. As far as issue of installing jammers in the jails is concerned, the related department should submit application with the Ministry of IT and this could only be done through a specific procedure, he added.

Source: Daily Times, Pakistan

Mobile banking more popular with younger crowd

Banking on the move is more popular among younger consumers, according to a recent report from the Auriemma Consulting Group.

The firm said incentives were a strong motive for younger people to sign up for mobile banking services, which allow them to keep track of checking and savings accounts on their cell phones. Of respondents to a survey, 40 percent of people 18 to 45 said incentives tipped the scales when it came to picking mobile banking.

"While instant feedback and convenience are the predominant reasons for using this service, incentives are becoming more of a motivator than in the past," says Nancy Stahl, editor of the report.

Overall, mobile banking is still not taking up a large portion of the market.

Thirteen percent of Americans take part in it, though experts expect it to become more popular in the future.

Mobile banking may also be a way to tap into consumers who do not have checking or savings accounts. A recent report from Javelin Strategy and Research showed that many unbanked consumers have access to mobile devices, which could help connect them with the financial community.

Source: e-wisdom.com

Mobile banking potential far greater than PC banking

Since the Reserve Bank of India's mobile banking guidelines came out in October 2008, more than 32 banks have been given clearance for some form of mobile banking or payment service to be offered to their customers. The annual value of transactions using the mobile banking channel is in the region of Rs150 crore, involving about two to three million transactions. But let us put this in perspective - after all it has taken more than two decades for credit card penetration to reach just about 3 per cent of the population, or about 30 million people!  

Since it does take time to go from giving approvals to actually getting the service to the market in any meaningful way, it is clearly still early days for this new alternate channel. But a quick litmus test indicates three things.

Run Rate:

Experience so far within a year or so of the mobile, prepaid and other concomitant directives is that the run rate for our mobile transactions has grown by six times, whilst pure banking customer related transactions in Nepal and India have grown 10 times.

Telco to help rural majority access banking services

Dtac's Pakistani partner lays blueprint for developing countries

Telenor Pakistan, the country's number two mobile operator, has recently purchased a bank and is now using its banking license through its network of franchisees and top-up agents to offer banking services to Pakistan's largely unbanked population, with savings, insurance and international remittance soon to follow.

Remote Telenor Franchise in the misty hills of Dungagali, Pakistan. Telenor has 150,000 franchisees. Some 20-30,000 of these will be upgraded and trainedto offer EasyPaisa microfinance to the unbanked majority in Pakistan.

Known as EasyPaisa, the idea by Telenor and the State Bank of Pakistan is to find a sustainable, profitable new banking model to help the billions in developing countries break out of the cycle of poverty by providing them with low-cost, convenient financial services.

In an exclusive interview, Roar Bjaerum, Telenor Pakistan Vice-President for Financial Services, and Arif
Abdul Qayyam, Telenor Pakistan Director for Financial Services, explained the history of this innovative project.

Police embraces e-banking

Tuesday, 20th April, 2010
By David Mugabe

MEMBERS of the Police force will no longer need to go to the bank to withdraw money to carry out transactions, thanks to a new e-banking initiative.

MAPSwitch Uganda, providers of electronic financial services, plans to extend its branchless banking service to the force. Roscoe Nsubuga, the managing director, said the service enables clients to withdraw money, transact business, buy airtime or check their account balances using an electronic device at specific access points.

The roll out of the service to the Police force comes after a successful launch in the military. It is, however, currently only open to PostBank customers although negotiations are on to bring other banks on board. The Police force has over 30,000 servicemen and women. The mobile banking platform has already benefited over 57,000 UPDF soldiers, who belong to the Wazalendo military savings and credit cooperative organisation (SACCO).

The Latest ATM Features Are in Your Pocket

Technology now in development will marry cell phones with ATMs and give a whole new definition to the concept of mobile banking.

To the convenience of the mobile phone and that of the ATM, add another—the convenience of the mobile phone and the ATM working together to save retail-banking customers time, improve the security of their transactions, and increase their loyalty to financial-service institutions.

If this convergence of cell phone and banking sounds like mobile banking, it is—and it’s more. Mobile banking, or the ability to conduct financial transactions on the fly from a mobile phone or personal digital assistant (PDA), has captured a lot of headlines lately. Yet quietly in the works for several years now has been the courtship of the mobile device and ATMs. The know-how to marry these two technologies has been lab-tested and could be in users’ hands within three to five years.

Tameer Bank eyes 30m bill payments by year-end

by: The News(Daily English Newspaper) 

Around 300,000 utility bills were paid through the facility of ‘easypaisa’ in March, while these numbers will be enhanced to 30 million by the end of the current year, a top executive of the bank said.

In a lecture on Friday on “New developments in microfinance”, Nadeem Hussain, President, Tameer Microfinance Bank, said that the consumers are availing the off-banking facility through retail network. “The consumers are also being provided a facility of remittances at the local level,” he added.