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Mobile Money

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Video: MEF members at Money 20/20 – DOCOMO Digital targets the sharing economy

By | Mobile Money, Video | No Comments

The sharing economy has a payment problem. It’s complex to manage millions of small transactions. This is why DOCOMO Digital launched NOMO. Hiroyuki Sato, CEO of DOCOMO Digital, explained it to MEF Minute…

“The sharing economy is commerce with the promise of a human connection. We think of the big guys like Uber and AirBnB, but everyone can be a vendor of any kind. They can contribute to society. It’s a really important aspect of the future. And NOMO is helping with this evolution.”

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A view from Money 20/20: the 50 year battle to rid banking of humans

By | Event, Featured Post, Mobile Money, Opinion | No Comments

Last week’s fintech expo placed the emphasis on apps, AI, APIs and VR. They all point to one thing,, says Tim Green, we don’t want people to get in the way of our financial services…

There were a lot of human beings at Money 20/20 last week. The expo that showcases the banking of tomorrow brought together at least 1,000 of these humanoids. Some of them were even female.

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Blockchain and mobile

By | Mobile Money | No Comments

Co-chair of the Blockchain Ecosystem Network (BECON) Alex Bausch here explains how the technology ties in to mobile and how fintech companies are using Blockchain to usher in the next generation of mobile financial services.

Since 2004, I have been involved in the mobile revolution. Enterprise Managed Mobility promised to make the SmartPhone more secure, and at the same time deliver more control over the employees’ device. Bring Your Own Device was the big promise. The mobile end-points turned out to be the next frontier. The problem was that billions of devices and an equal number of online (mobile) services were hard to secure in a scalable way. A better way was to secure the identity in combination with the online service.

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Money 2020: are banks finally ready to get personal?

By | Event, Featured Post, Mobile Money, Opinion | One Comment

Could accessing your banking info ever be as easy as opening up a Google Map? Ahead of a MEF-sponsored panel on the personal data economy at Money 2020, Tim Green looks into the drive towards open banking APIs…

Next week, the world’s financial futurologists head to Copenhagen for Money 2020. It’s the big talking shop for next-gen banking. And MEF will be there. We’ll be hosting a panel session on the personal data economy. It should be good. I’ll be moderating the event, and I know from talking to many banking execs over the last year or two that awareness of the ‘internet of me’ concept is pretty low.

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Did you hear? Apple Pay just became a bank account (sort of)

By | Featured Post, Mobile Money, Opinion | No Comments

What is going on with Apple Pay? Last week, Apple revealed a new virtual card for storing funds received from other users. So what is this? A bank account? A gift certificate? A loyalty card? Tim Green ponders what the move means for Apple, for users and for competitors…

Ever since Tim Cook first unveiled Apple Pay, the finance world has obsessed over this question:

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SS7 Vulnerability underlines need for new financial-telco collaboration

By | Featured Post, Mobile Money, Opinion, Security | No Comments

Recent hacking attacks have brought the vulnerabilities of global telephony protocols to the fore. Stephane Groud, Product Director at MEF Member Myriad Connect discusses an apparent spike in cybercrime, and what banks and networks need to do to counter it.

The security world is looking at vulnerabilities in Signaling System 7 (SS7), with financial institutions and telcos alike expressing concern that mobile banking is increasingly vulnerable to hackers and fraudsters.

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Mobile money: usability, growth markets and the importance of choice

By | Featured Post, Mobile Money | No Comments

MEF held its global and regional board elections at Mobile World Congress in Barcelona this year.

After the event we caught up with some of the newly elected directors – Bango’s founder and CEO, Ray Anderson, Boku’s CEO, Jon Prideaux and Microsoft’s Director of Carrier Billing Grahame Riddell – and asked them for their thoughts on mobile money and specifically carrier billing going forward for MEF’s recently published free Mobile Money eBulletin.

Here’s what they said…

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Mobile payments in emerging markets: Beyond M-Pesa

By | Featured Post, Mobile Money | No Comments

New mobile payment systems in emerging markets are challenging traditional approaches to physical commerce.

Here Amrish Kacker, lead analyst for Analysys Mason’s Operator Strategy Consulting examines the mobile payment business models in developing and developed markets in an article which also appears in MEF’s most recent free Mobile Money eBulletin.

Mobile network operators initially tried to adopt the M-Pesa payment options used in developing markets, but this met with limited success.

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17 stats that explore the growth of mobile money

By | Mobile Money | No Comments

Since MEF’s last Mobile Money eBulletin mobile proximity payments have taken a big step forward, in particular in China where Alipay and WeChat are becoming a popular option for in-store payments.

Elsewhere carrier billing is now a common-place channel for the purchase of digital goods and services as integration into app stores and other digital content markets rolls-out. The P2P transfer of money between mobile devices is also so well established in some growth markets that more money changes hands via mobile than any other way, including cash.

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Mobile money and interoperability in growth markets (part 2)

By | Featured Post, Mobile Money

In part one Srinivas Nidugondi, Senior Vice President & Head of Mobile Financial Solutions at Mahindra Comviva discussed the importance of interoperablity between mobile money services and explained some of the barriers that are holding the market back.

Here he discusses the benefits and drivers of the mobile money space in this second instalment of a two-part article which also appears in MEF’s most recent free Mobile Money eBulletin.

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