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

Free Kaspersky for Barclays’ customers

ayny — Fri, 05 Sep 2008 15:11:45 +0200

All 2 million online banking customers of Barclays in the UK will be offered free internet security software including apart from anti-virus software also spyware, adware, firewalls, parental controls and spam filters.

Federal tax wires option added to Wells Fargo’s m-banking

ayny — Fri, 05 Sep 2008 11:04:55 +0200

Users of CEO Mobile will be provided with the option to initiate and approve federal tax wires. US bank Wells Fargo decided to upgrade its mobile business banking service. CEO Mobile is a wireless version of the bank's Commercial Electronic Office portal that was launched to a select group of corporate customers in April last year.

Cardless ATM withdrawals in Kenya

ayny — Fri, 05 Sep 2008 11:04:06 +0200

M-PESA registered customers will be allowed to withdraw money from PesaPoint ATMs using their Safaricom phones. A new corresponding agreement was signed between Safaricom and PesaPoint. Under the deal customers will not need ATM cards which means that Kenya becomes the first country to deploy cardless transaction system at ATMs

Global Payments’ JV present in the Philippines

ayny — Fri, 05 Sep 2008 10:59:36 +0200

Global Payments Asia-Pacific, Asia-Pacific joint venture of Global Payments Inc., a leading provider of electronic transaction processing solutions and The Hong Kong and Shanghai Banking Corporation Limited is now ready to expand into the Philippines to offer payments processing services to merchants.

Australian banks’ reluctance to cooperate had bad results

ayny — Thu, 04 Sep 2008 12:52:59 +0200

The Reserve Bank of Australia in the BankTech conference in Sydney expressed its discontent with the work of the nation's four largest commercial banks pointing out to their shirking on investments in payment systems technology which lead to a lack of innovation and neglect of systems like EFTPOS.

Citi and CUP Data in a conjoint project

ayny — Thu, 04 Sep 2008 10:13:53 +0200

A debit card processing agreement under undisclosed terms was signed by China UnionPay Data Services Co., Ltd., TSYS’joint venture with China UnionPay with Citibank (China) Co., Ltd.

The deal is a confirmation of CUP Data’s commitment to developing and strengthening their payment processing expertise notes Mr. Chai Hong Feng, chief executive officer of CUP Data.

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?

ABN Amro Bank to meet SEPA regulations

ayny — Tue, 02 Sep 2008 14:42:31 +0200

ABN Amro Bank selected Sentenial Ltd, an international supplier of total direct debit processing solutions to deliver a fully SEPA compliant solution for the bank’s pan European Direct Debit processing requirements. With the full integration of the Sentenial EuroDebit solution into the bank’s main architecture ABN Amro Bank will be able to comply with compulsory SEPA rule book requirements.

Three times increase in electronic transactions

ayny — Tue, 02 Sep 2008 11:49:59 +0200

The Reserve Bank of India reports that number of transactions settled through electronic funds transfer services increased to 1.9 million in June 2008 from 675 thousand in April 2007 while the value of transactions didn’t prove to be similarly high.

Added convenience with banking services in Qatar

ayny — Mon, 01 Sep 2008 13:07:26 +0200

“Mye-bank” online banking service was introduced by ahlibank, one of the fastest growing banks in Qatar. Online banking allows customers to conveniently use banking services from anywhere in the world anytime with no additional costs.

More options to make premium payments with HSBC

ayny — Fri, 29 Aug 2008 21:09:14 +0200

HSBC in Thailand entered into agreement with Prudential Life Assurance (Thailand) Public Company Limited and Counter Service Co., Ltd. So. Under the deal the life assurance customers will be provided with the service enabling them to settle their bills through Counter Service’s extensive network across Thailand.

Americans wish to bank online Checkfree reports

ayny — Fri, 29 Aug 2008 11:35:49 +0200

A new survey held by bill payments technology provider, Checkfree shows that security issues no longer prevent many Americans from banking online or settling their bills via Internet. More and more customers in the US are willing to perform everyday banking activities in the Web.

A new domestic ATM network is being launched in Cambodia by Visa in cooperation

ayny — Fri, 29 Aug 2008 11:07:42 +0200

A new domestic ATM network is being launched in Cambodia by Visa in cooperation with Cambodia Mekong Bank, Canadia Bank, Singapore Banking Corporation (SBC Bank), and Union Commercial Bank (UCB).

With the new service known as “Easy Cash” Cambodians will be able to perform basic banking services, such as balance enquiries and cash withdrawals at any Easy Cash network ATM around the country.

Integration of Metavante bill pay into Connect online banking

ayny — Wed, 27 Aug 2008 11:33:23 +0200

This week an alliance was announced between Metavante Corp., a leading provider of banking and payments technology and Metavante and Connect Software Solutions, LLC, an online banking provider for credit unions.

Striking adoption of m-banking by Huntington consumers

ayny — Tue, 26 Aug 2008 11:43:23 +0200

Huntington National Bank reports over ten times increase in adoption of its mobile banking service by the customers.

After the launch of the service in June 30 Huntington reached 870 percent of its monthly usage goal in July and is likely to exceed that by 40 percent in August.

Azerbaijani bank goes online

ayny — Tue, 26 Aug 2008 09:36:49 +0200

In Azerbaijan KredoBank OJSC is planning to increase client service level by expanding the range of the services provided by the bank.

In the near future KredoBank intends to offer internet banking to its customers which will allow them to be more comfortable while using bank services as reported by the bank.

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.

Mobile services post paid via SMS

ayny — Mon, 25 Aug 2008 11:00:20 +0200

In Serbia Piraeus Bank which earlier this year launched prepaid credit refill service through SMS to pay for mobile airtime now allows DinaCard payment card holders to make payments of post-paid bills through SMS.

With the new service cardholders can settle post-paid bills any time round the clock without standing in long lines. The service is available even when a customer is on a business trip or on when he/she is on vacation abroad.

Pakistani bank joins global payment network

ayny — Fri, 22 Aug 2008 15:28:43 +0200

According to the latest reports Habib Bank Ltd. (Karachi, Pakistan) joined CHIPS, the large dollar, real-time wire payments system operated by The Clearing House Payments Co. Habib is the first bank in Pakistan to implement CHIPS solution.

HSBC goes on with updating customers’ accounts

ayny — Fri, 22 Aug 2008 10:48:54 +0200

The computer system of HSBC Bank UDA is still under restoration and repair while customers’ accounts are being updated nationwide after the computer crash happened in the core banking system causing barriers to accountholders when they tried to access their accounts and funds.

Mobile banking service for careless UK customers

ayny — Thu, 21 Aug 2008 15:07:17 +0200

Alliance & Leicester, a British Bank introduced mobile banking services for customers in the UK thus providing them with the instrument by which current account holders can keep track of their finances while on the move.

Taking into account the fact that 1/4 of adults in the UK do not carefully watch over their budget Alliance & Leicester decided to launch Mobile Banking initiative.

Prestige award for internet banking granted to Citi

ayny — Thu, 21 Aug 2008 15:06:14 +0200

Global Finance Best Corporate and Institutional Internet Bank Award 2008 was granted to Citi Tanzania which came top of 68 countries which also included Cameroon, Congo, Côte d'Ivoire, Gabon, Nigeria, Senegal, South Africa, Uganda and Zambia.

Mr Hamza Nassoro, the head of global Transaction service expressed delight of the Citi Tanzania aroused by the global Finance recognition and noted that this was demonstrative of their up-to-date platform and improved internet capabilities.

Online business community to order of HSBC

ayny — Wed, 20 Aug 2008 11:43:01 +0200

California-based LiveWorld social media marketing agency was selected by the UK largest financial institution HSBC to develop and operate a social networking application designed specifically for start-up companies in the UK.

Earlier this year a new Business Network, the bank's online community for start-ups was introduced under the team-work of LiveWorld and communications agency Mindshare.

New Poland bank to expand its business with First Data

ayny — Wed, 20 Aug 2008 11:42:05 +0200

First Data, a global leader in electronic commerce and payment services entered into the relationship with Alior Bank, a new bank in Poland.

Under their agreement First Data will provide Alior Bank with services in card issuing and personalization to support the bank's expansion into Poland later this month.

eCommerce division of Wachovia has got its head

ayny — Tue, 19 Aug 2008 14:06:27 +0200

One of the most famous banks Wachovia has appointed Sridhar Chityala to the post of a manager of its eCommerce division. Sridhar Chityala has a good background and a brilliant career. Previously he served as leader of the Telecommunications Business Unit for Citi Cards.

E-banking comes into an Indian village

ayny — Tue, 19 Aug 2008 10:20:19 +0200

In India inhabitants of a village gain access to bank credit through biometric verification and cell-phones. It's a 90-minute walk from this southern Indian village--one of 730,000 in India--to Doddabenavengala, the nearest town with a bank branch. Previously a villager with no bank account and respectively with no access to formal bank credit had to pay 10 percent monthly interest to informal lenders.

Securities repurchased by Wachovia

ayny — Mon, 18 Aug 2008 10:25:55 +0200

In the course of a wide-ranging investigation by the New York Attorney General and other state regulators into the collapse of the market Wachovia Corp. made a decision to buy back $8.5 billion in auction-rate securities.

Besides, $50 million will be paid out in fines by The Charlotte bank, N.C. and distributed among the states.

Compensation for injured workers paid via JPMorgan’s new product

ayny — Thu, 14 Aug 2008 12:29:30 +0200

Workers Compensation Debit Card was recently introduced by JPMorgan to enable insurance companies to use prepaid debit cards to deliver workers compensation benefits to injured or disabled workers.

With the Chase Workers Compensation Card, issued by JPMorgan insurance companies have an alternative method for paying injured workers and can reduce the costs and time associated with paper-based check distribution.

Absa Bank opened new opportunities for its customers

ayny — Thu, 14 Aug 2008 11:07:12 +0200

One of the leading banks of South Africa Absa Bank has announced about a new service CashSend that principally differs from other, existing ones. Owing to CashSend the customers of Asba Bank can send money transfers using the ATMs, mobile or online banking to their friends and relatives, who have no bank accounts or plastic card.

Second quarter turns out miserable for JPMorgan

ayny — Wed, 13 Aug 2008 10:52:39 +0200

$1.5 billion write-off on mortgage-backed securities and loans were taken by J.P. Morgan Chase in the third quarter while the second quarter showed reduced earnings.

"Trading conditions have substantially deteriorated versus the second quarter," stated the officials of the company.

After the disclosure the company stocks fell $3.97, or 9.5%, to $37.92.