Category Archives: mobile money
UK operators poised to blitz 17m mobile users with tailored app ads
Lucrative new niche promised by combined mobile money venture
Weve, the mobile money and marketing venture brought together by Vodafone, EE and O2, is to go into overdrive this summer as it targets more than 17 million British customers with paid-for advertising. The initiative aims to provide member operators and partners with a single set of technical standards for use on all devices and networks, at the same time acting as a ‘one-stop-shop’ selling services to advertisers. In its original guise the venture was codenamed ‘Oscar’ and primarily envisaged as a mobile wallet service, though since it has evolved more into a marketing than pure payments platform. Continue reading
BBM Money’s adoption rate in Indonesia beats expectations
Mobile money married to BlackBerry’s industry-leading messaging service
It seems that a mobile money service offered in Indonesia by Monitise – BBM Money, is beating expectations. It has already attracted 60,000 registered users in its headlong charge towards a target of 200,000 users by Q1 2014. The service is a result of close cooperation between Monetise’ joint venture with Astra International (AGIT Monitise Indonesia) in association with Indonesia’s Bank Permata (PermataBank) and BlackBerry, of course. Indonesia is one market where BlackBerry reigns supreme. BlackBerry is the Number One selling mobile smartphone, constituting over 50 per cent of all smartphones sold in the market. Continue reading
BBM Money service exceeds 60,000 registrations within 90 days of launch
Service launched with BlackBerry creates low-cost customer acquisition opportunities for PermataBank
Press release
22nd May 2013. Mobile Money leader Monitise (LSE: MONI.L) has announced the early success of BBM Money, the P2P mobile payments service launched through its Joint Venture with Astra International (AGIT Monitise Indonesia) in partnership with Indonesian financial institution PT Bank Permata (PermataBank) and BlackBerry (NASDAQ: BBRY; TSX: BB). Since going live at the end of February 2013, the service has attracted more than 60,000 registered users towards its end of 2013 target of 200,000. Continue reading
Monitise stock soars on Visa deal and fund manager’s endorsement
Shares in Aim-listed, mobile money firm Monitise leapt nearly 9 per cent in early trading today following a double whammy of upbeat news.
First, it was revealed that the company had completed a final contract with Visa Europe to deploy mobile money payments and commerce services for Europe’s financial institutions, ratifying an earlier announcement. Monitise also said it was granting Visa Europe – already its major shareholder – a warrant to purchase 43 million ordinary shares at a price of 36.25 pence. Continue reading
2013 NFC & Mobile Money Summit
[ October 14, 2013 10:00 am to October 17, 2013 6:00 pm. ] Organisers: GSMA
Venue:Metropolitan Pavilion
Location: New York City, USA
Web: www.nfcmobilemoneysummit.com/event/2013-event-preview.php
Register: here
This annual event will once again bring together key players in the mobile and financial sectors to focus on the latest developments and newest innovations in NFC and mobile financial services. Continue reading
Monitise clinches deal with ‘leading financial institution’
But it’s keeping identity secret for moment
Mobile payments firm Monitise says its partnered with another leading UK financial institution in a three year deal which will witness it developing a series of mobile money services. Though Monitise has not named the bank yet, it says the deal will further consolidate its position in the market where it already works with more than 300 banks and financial institutions. Continue reading
Visa and Samsung in mobile money pact
Two biggest names in their fields come together
Visa and Samsung have joined forces in a bid to accelerate user adoption of mobile money along with the take-up of NFC ‘tap-and-pay’ technology. The Visa Samsung global alliance signals the first of its kind between a leading NFC handset manufacturer and payment organisation. Under the deal, Samsung will preload Visa’s pay Wave app on to its NFC smartphones, making it easier for consumers and financial institutions to link their new handsets to their bank accounts. Continue reading
UK startup debuts mobile money app for Facebook
A new online app from a UK start-up has been adopted by Facebook to allow users send remittances directly to friends almost anywhere in the world.
Based in London and founded just last year, Azimo will formally launch the app later today [12th February 2012] having already announced a £300,000 ($480,000 USD) angel investment round as it looks to expand its operations. Continue reading
Monitise revenues up by a fifth as user base grows
On track for full year income of at least £70m
Shares in UK mobile money firm, Monitise, are expected to rise when trading opens later today [11th February 2013] after the company reported revenues of £27.8 million in the first half-year to end-December, up by more than a fifth with gross margins soaring by 72 per cent from 64 per cent for the same period in the previous year. There was also strong growth in user generated revenue on a reported and organic basis, up 164 per cent and 70 per cent respectively. Continue reading
UK payments firm Bango to raise £6.5m through new shares
Wants cash for push into emerging markets
British mobile payments firm Bango has unveiled plans to raise £6.5 million through the placing of new shares on London’s AIM market.
Some three million new shares will be offered to institutional investors at 200 pence apiece, with Bango claiming the placing is already oversubscribed by both new and existing institutional investors. Continue reading
Cruickshank replaced as CEO at Weve after just three months
Nancy Cruickshank, the entrepreneur tasked with rolling out Vodafone’s joint mobile money venture with rivals O2 and EE, is to be replaced as CEO just three months after her formal appointment, it was revealed today [5th February 2013].
Though Cruickshank was always described as launch editor, she had been working behind the scenes since last May as the venture – known as Weve – struggled to get the green light from EU financial regulators. Continue reading
2013: Monitise’s make or break year
British mobile payments firm Monitise has re-jigged its directors’ share incentive scheme putting them in line for millions in potential payouts as the company heads into 2013 – the year it has set itself to make a profit or at least break even.
In September last year [2012] the company’s preliminary year-end results showed a loss of £14.5 million, despite revenues of about the same amount, though it’s order book is growing fast and is now said to be worth £78 million over the next five years, six times its size in June 2010.
Meanwhile the next twelve months should prove pivotal as Monitise predicts revenues will rise to around £68 million, yielding a profit for the first time. Continue reading
ARM security innovation for smartphones and e-commerce
UK chip maker ARM has jointly developed a new security standard for smartphones that by-passes the need for other devices like bank card readers and secure ID tags, while also also allowing content to be shared more easily between handsets.
Trustonic, a venture with partners Gemalto and Giesecke & Devrient, has been in gestation since April this year and is said to allow the new security standard to be incorporated into every level of a smartphone, from the chip and OS through to applications. Continue reading
Confusion reigns over RBS Get Cash facility
Rating: Is it restricted to Scottish Android-owning customers presently?
The Royal Bank of Scotland put out the news on June 13th [2012] that, ” From today RBS and NatWest customers can choose to ditch their debit cards in favour of their Android phones, with a new innovation that allows them to ‘GetCash’ from an ATM without needing a debit card.” The Banks customers can request the cash on their mobile and a six digit pin will be generated. This code is entered at an ATM; the amount of cash confirmed, and funds distributed accordingly. Great. Ben Green, head of mobile at NatWest and RBS, commented, “This has never been done anywhere in the UK, and yet is a really simple and secure way to help our customers get cash whenever and wherever they need it.” Unfortunately, it didn’t make it very clear which handsets could use the app and which customers are eligible. Continue reading
Juniper Research says mobile banking is moving from Push to Pull
Rating: Malware & spyware could slow growth
A new ‘Mobile Banking for Developed & Developing Markets’ report from Juniper Research has found that mobile phone banking is gaining considerable traction. It’s mainly thanks to the exploitation of advanced functionalities such as banks bundling MBPP (Mobile Bill Presentment and Payment) services within their overall mobile banking platform. Plus there’s been additional momentum from easy-to-use smartphone apps. The report has also discovered that there’s a growing user acceptance of ‘push’ mobile banking. This will result in a sharp rise in smartphone adoption that will drive users of transactional mobile banking services up from 185 million in 2011 to over 550 million by 2016. Continue reading
