eCommerce Journal - Learning more about virtual economy - Articles, Banks and internet banks

Mobile Money Transfer Explained, Part 2: Mobile Wallets

ayny — Thu, 04 Sep 2008 09:51:21 +0200

Steven Clarke, Event Director and Chief Payments Researcher for the Clarion Events Payments Division spoke to hundreds of MMT innovators, and is pleased to share his research in a series of papers. In this edition, we spoke to the leading mWallet vendors.

What is a mobile wallet, and how many are in use?

Cooperation of IBBL and SSL Wireless generates mobile banking

ayny — Mon, 25 Aug 2008 13:58:38 +0200

In Bangladesh Islami Bank Bangladesh Limited (IBBL) and SSL Wireless entered into an agreement to introduce Mobile Banking Service.

Under the terms of the deal customers of IBBL will be enabled to inquire for different kind of financial information apart from their Balance of Bank Account, receive SMS alerts and mini statements by just sending SMS to 6969 number from any mobile operator.

Columbus to meet its own m-banking

ayny — Wed, 02 Jul 2008 06:48:34 +0200

Mobile banking services are now being offered to customers by the 24th largest American bank. Tuesday Huntington Bancshares Inc., the Columbus area's largest bank started providing its consumers with the service to allow them access their accounts via a number of communications devices.

Payter will make the Netherlands a leader in m-banking

ayny — Thu, 26 Jun 2008 15:13:35 +0200

A Holland mobile multimedia company, Payter, has permitted to start the roll-out of payments by mobile telephones throughout the country. It was announced that starting from this coming August 9,000 retailers located in six major cities, namely Rotterdam, Amsterdam, The Hague, Utrecht, Eindhoven and Arnhem will be able to use the mobile payment system.

Credit and debit cards to form the online bill payment system

ayny — Tue, 24 Jun 2008 08:26:21 +0200

Banking companies are considering the idea of incorporating credit and debit cards into their online bill payment systems, largely in response to consumers who have become accustomed to earning reward points for almost all their financial activities.

Aussies will undergo instant online identity verification process

ayny — Tue, 03 Jun 2008 12:11:25 +0200

Now customers in Australia may use the first end-to-end online account opening service offered by the Dutch bank.
Direct implements an almost instant online identity verification process instead of the traditional 100-point security check to allow customers to open savings and term deposit accounts. Other banks in the country are going to follow its lead.

Mobile banking wave in Korea

ayny — Wed, 14 May 2008 10:05:46 +0200

South Korea sees a great growth among mobile banking customers. There are 2.5 million Woori Bank mobile banking subscribers with over 1 million of them using mobile VM (Virtual Machine) banking.

Safe and secure mobile banking - it is possible!

ayny — Tue, 13 May 2008 13:22:26 +0200

Who is the most successful in business? The one is always in motion, a mobile person. So, the business should also be mobile and flexible to please the customers. When mobility is the keyword, why banks should lag behind? To cope with the widespread fundas of flexibility and mobility, the banks also aced up their sleeves to offer the same to their customers.

Mobile banking - mobile security

ayny — Mon, 05 May 2008 12:22:01 +0200

Today people live on the Internet, date there, make purchases. No other industry is developing faster than the Internet. One can observe the boom of electronic commerce today. Internet banking is hot and mobile banking hotter. While the former brought our banks to our desktop, the latter has brought it right into our pocket.

Mobile banking grows before our eyes

ayny — Fri, 25 Apr 2008 05:40:23 +0200

In view of recession and mortgage crisis people do not trust banks no more. Or it better to say that they are still trusted but not as much as it was before. Especially since they have an alternative - mobile banking.

Mobile payment, still a nascent service, is expected to reach 32.9 million users worldwide in 2008 and grow to 103.9 million users in 2011, according to a study released by Gartner.

CSI announces mobile banking solution

lexus — Fri, 04 Apr 2008 10:56:30 +0200

Computer Services, Inc. (CSI), a leading provider of integratedbanking solutions, today announced the development and release of a newmobile banking platform. According to Steven A. Powless, CSI President and CEO, CSI's decisionto release a mobile banking solution was based on market research andevidence of emerging consumer behavior.

Societe Generale: story has not finished yet

ayny — Thu, 13 Mar 2008 03:05:30 +0100

The story of Societe Generale, one of the biggest and respective banks in the world has shocked everybody. Earlier on the pages of our journal we have already covered this topic. But today we have got another piece of news, another turn of this uncertain story. The last news was illuminated by Reuters on the pages of Internet news blocks.

The biggest thief in banking history

lexus — Thu, 24 Jan 2008 21:41:42 +0100

A 4.9 billion-euro ($7.2 billion) trading loss was announced by Société Générale SA, the Paris-based bank, that became famous for the biggest loss in financial history. The internal investigation revealed that the name of Société Générale's incredible losses was Jerome Kerviel, trader. Mr.Kerviel joined SG just five years ago, with three of them spent in backroom operations.

US mobile banking in 2008

lexus — Mon, 14 Jan 2008 19:51:58 +0100

According to the predictions of the analysts the largest 50 US banks will launch some form of mobile banking this year.

As per Mr. Sievers, CEO of mFoundry, the process of mobile banking will consist of 4 phases including the first two ones within 2008, and finally will result in creation of "virtual wallet" from an ordinary cell phone.

Offshore ON-line

lexus — Fri, 21 Dec 2007 16:07:38 +0100

The desire of many countries to find a cornucopia in the depths of national lands poor in minerals nowadays has turned for world economy into the appearance of earning institutes for such countries which we usually call the offshore countries.

Having developed the mechanism of creation of tax paradise for the companies, many countries have constructed their business on

Offshore bank of Cyprus

lexus — Fri, 21 Dec 2007 16:06:39 +0100

As the international community has been drawn to Cyprus as an efficient, convenient and reputable offshore business center, the government has responded by upgrading its traditional banking system. Today the country provides the highest European standards of financial services to both individuals and the corporate sector, offering modern infrastructure, a diverse range of activities and maximum safety procedures.

Internet Banks-The way of Exposure

lexus — Fri, 21 Dec 2007 16:04:51 +0100

In recent years, large companies have set up internet-only banks as a means of diversifying into the financial sector and providing internet only banking services compared to a traditional brick and mortar bank is that this type of bank has very low costs. These savings come as a result of the low overhead costs that are associated with electronic transactions.

E-loans

lexus — Fri, 21 Dec 2007 16:02:27 +0100

In accordance to informal statistics the loan market as up today is $89 billion with about 6,000,000 loans per year and average loan amount $300. With this loan market potential and the growth of the cyberspace economy more and more financial institutes offer the online or e-loans targeting the borrowers through the Internet. The consequence of the new opportunities is an increase of the business activities and its further expansion over Internet.