News

Mobile ad performance study shows CTRs offer only a false metric
September 29, 2014, 3:51 pm

The results of a recent marketing study have now been released, showing that while click through rate (CTR) are still commonly used to measure the success of mobile ads, they are not a very effective metric for that purpose.

The study was carried out by Nielsen after having been commissioned by the xAd firm.

This research indicated that at its best, CTR can provide marketers with an idea of the consumer awareness and interest when it comes to a mobile ad or a brand. However, if that metric is used, the report recommends that it should not be used all on its

Samsung Galaxy Alpha Features Compact Metal Construction
September 29, 2014, 3:46 pm

Samsung says that the Galaxy Alpha smartphone is the first example of its new design approach. In a statement from Samsung on the unveiling of the Alpha, the company says that this new offering to the Galaxy line will feature a metal construction and solid finish.

Samsung CEO and Head of IT and Mobile Communication J.K. Shin says in a statement:

“With an entirely new appearance, the Galaxy Alpha focuses on both beauty and functionality combining a stunning metal frame and slim, lightweight design with the same powerful hardware and features users expect from a flagship Galaxy mobile device.”

While Samsung has previously excelled at

Ten things to know about BlackBerry - and how much trouble it is (or isn't) in
September 29, 2014, 3:44 pm

A year ago, BlackBerry looked in peril. An attempt to sell it to Canada’s Fairfax Holdings had foundered - and there were questions about what might happen to users of its phones if the sale did go through.

Since then, a lot has happened: then chief executive Thorsten Heins was thrown out and replaced by John Chen, a turnround specialist who had previously brought Sybase back to profitability. The company has refocussed on its government and big business (“enterprise”) base.

On Friday, it announced its second-quarter financial results (for the three months to the end of August), and Chen had an

Vodafone M-Pesa ties up with railways arm for ticket booking
September 29, 2014, 3:22 pm

Vodafone M-Pesa's tie up with Bharat BPO would enable safe, secure and convenient ticketing transactions through mobile phones, it was officially announced here today.

"This partnership will help open up and extend the convenience and efficiency of e-commerce and online services to those unbanked millions who use cash and are otherwise excluded from this eco-system," Vodafone M-Pesa head Suresh Sethi said in a statement.

"This new app-based offering empowers our customers to book rail e-tickets, seek PNR status, cancel tickets, get refunds, all at their own convenience, through their mobile handsets. We are extending a highly safe and

Could your credit score soon be based on your FACEBOOK FRIENDS? Expert predicts future of banking will rely on social networks.
September 29, 2014, 3:02 pm

Or a time when you pay for shopping using an eye-scanner, transfer money with the flick of a finger and meet your bank manager in the local supermarket.

These are just some of the predictions made by financial technology expert Gi Fernando for the future of banking - and he believes the wheels for this revolution are already in motion.

Mr Fernando, sold his last start-up to Experian in 2011 and launched Free:Formers, a digital training firm for banks among other businesses, a year later.

Speaking exclusively to the MailOnline, he said: ‘We’re on the brink of some seismic changes in the

Gemalto catches a ride with China Mobile
September 26, 2014, 2:29 pm

The vendor preloads SIMs with a transport application for Beijing so that commuters can travel via bus and metro by tapping their smartphones on a contactless ticket reader.

In addition to transport, other services that could take their place on the SIM include mobile payments, loyalty and couponing.

Suzanne Tong-Li, Gemalto’s president for Greater China and Korea, said: “We have provided a customised solution to China Mobile, leveraging our strong understanding of the Chinese market and regional networks, which will allow them to adapt and expand their services to other cities. In the future, commuters will be able to travel from city to city with

Barclays sees mobile banking surge

Barclays sees mobile banking surge
September 26, 2014, 2:16 pm

Latest figures also show the average Barclays customer visits a branch less than twice a month and uses Barclays Mobile Banking 26 times a month.

In an attempt to get more customers switched onto digital banking, Barclays has published a number of tips online advising on safety and security.

“These statistics demonstrate that smartphones are fast becoming the standard tool to browse, interact, shop and bank online,” said David Emm, principal security researcher, Kaspersky Lab. “However, despite using them to access the same internet as traditional computers, many people do not think they require the same fully-fledged protection. Most people wouldn’t dream of doing their

Retailers are unwilling to improve their mobile commerce intrastructure
September 26, 2014, 2:10 pm

As the holiday season approaches, retailers may have to put more effort into their mobile websites if they want to take advantage of mobile commerce. eBay has released its Enterprise 2014 Holiday Retail Audit, which highlights some of the problems that retailers are facing when it comes to mobile consumers. The report shows that many retailers are interested in engaging mobile consumers, but few of them will actually make the effort to do so by the 2014 holiday season.

Many retailers do not plan to invest in their mobile infrastructure

According to the report 68% of retailers said that they had no plans to

Will Apple Pay Finally Be The Game Changer Mobile Payments Need?
September 26, 2014, 2:08 pm

The new payment solution is based on a relatively mature technology called near-field communication (NFC), a fast, easy and secure way to wirelessly exchange data between the point-of-sale (POS) system and the consumer.

Apple is certainly not the first player to have introduced a mobile payments solution. The technology has been around for about a decade, yet less than 10 percent of merchants support it, as the Wall Street Journal recently reported. But, while others have promised to replace our physical wallets with digital equivalents, none has managed to muster mainstream success.

“I have counted hundreds of these initiatives over the years,

Green Dot, Wal-Mart Launch GoBank as Banking Alternative
September 26, 2014, 2:04 pm

Wal-Mart stores across the country will double as bank branches for GoBank, the mobile banking platform backed by Green Dot Bank. Wal-Mart shoppers can simply sign up for or deposit cash into a GoBank account, giving the smartphone-based bank an edge over rivals like Simple and Moven.

The account is meant to be a low-cost alternative to traditional bank checking, with the starter kit costing just $2.95. There will be no minimum balance fees, monthly fees or overdraft charges, provided that customers have a minimum of $500 in the account through direct deposit. To put it in perspective, an

PayPal begins to accept Bitcoin representing a new dawn for online payments
September 24, 2014, 1:36 pm

After nine months of deliberation as to whether online retail giant Ebay and its sister company PayPal would go the whole hog and actually begin supporting Bitcoin.

The speculation, which has lingered since January this year, has come to an end as PayPal begins to offer limited support for Bitcoin, paving the way for one of the largest market places and its associated payment processing provider to become a prolific component for international virtual currency users.

In order to bring this to fruition, PayPal has entered into strategic partnerships with three large Bitcoin payment processing companies which was announced yesterday afternoon by the large conglomerate.

Merchants

Clinkle Almost Launches, To More Giggles Than Applause
September 24, 2014, 1:32 pm

After 17 month of jokes, 30 million in funding raised, a great staff exodus and then more mean-spirited humor, it almost seemed as though the impossible had happened: Clinkle launched its mobile wallet, according to Tech Crunch.

A few hours later, Tech Crunch had to amend the report about Clinkle launching with the following.

“A source familiar with Clinkle’s plans said the company didn’t intend to ‘launch’ today but wanted to have its website up as it starts rolling out to schools. The company is still modifying the copy in hopes of better explaining how it works.”

The how it works of Clinkle isn’t too hard–users

10 of the world's best mobile commerce checkouts
September 24, 2014, 12:10 pm

Given the disparity between conversion rates on desktop compared to mobile, it's perhaps understandable that retailers might put more effort into optimising their desktop checkout.

However as mobile conversions are so hard to come by, you really need to make their purchase journey as comfortable as possible. 

These are by no means the very finest mobile checkouts in the world, and I'd actually be interested to read your nominations should you wish to add them in the comments section.

But these retailers have proved to be better than most when it comes to mobile checkout design.

Firstly, here the criteria I look for...

Speed. Mobile users don't have

Will The U.S. Catch Up In Real-Time Payments?
September 24, 2014, 12:05 pm

Gareth Lodge, a senior banking analyst at Celent, agrees, but only partly.

“If you want something paid for, reliable and that does the job you intended it to, the U.S. is one of the most efficient systems in the world. However, if you want to look at it in term of features, functionality and other facets, then it is a long way out of date compared to other countries.”

At least 35 countries have a real-time payment system, he said, and some of those real-time systems are more than 40 years old. His recent report on real-time payment systems cites

Apple Pay got mobile payments right, but its reach is limited
September 24, 2014, 12:02 pm

Radio Free Mobile’s Richard Windsor recently posted a concise and insightful piece about Apple Pay. According to Windsor, Apple has aligned the financial payments industry, a feat that has eluded other mobile payments companies, but due to Apple’s proprietary myopia will forego a greater opportunity.

Apple has announced an admirable list of merchants, such as Subway, McDonald’s, Disney, Walgreen’s, and Macy's. Not a small feat, even with the mystique of Apple’s brand. More importantly, though, Apple has organized the most important players in the complex payment chain to make Apple Pay a reality. The company is working with American Express, Mastercard, and Visa,

Could Apple Pay Kill the Traditional Wallet?
September 23, 2014, 12:39 pm

Apple is going after wallet makers with its new mobile payment system, called Apple Pay, which threatens to disrupt the whole industry. The digital wallet introduced last week allows consumers to make in-store and online payments using their phones -- effectively eliminating the need for a traditional wallet.

But billfold brands aren't shaking in their pockets just yet. After all, we carry other things in our wallets besides credit cards. "It's definitely going to have an impact, but I don't think that it's going to be a pervasive impact," said Michael Lyons, inventor at Rogue Industries, a Maine-based wallet maker. "Even if people

Payment products manager leaves Amazon for Microsoft post
September 23, 2014, 12:25 pm

Prior to being the head of product management, Kennedy used to manage Global Payments Marketing, Consumer Payments Product Management, and User Experience Design teams at Amazon Global Payments.

Kennedy will be filling in a product management post for Microsoft's commerce platform. This was revealed in his LinkedIn profile. Kennedy sent out a private Twitter message saying that it was still very early to elaborate the details of his new role.

Kennedy's previous work seemed to have revolved around the development of a digital wallet app for smartphones and the creation of a sort of mobile payment solution. This was hinted at when Amazon exec

Safaricom loses battle to block Equity Bank’s thin sim card
September 23, 2014, 12:22 pm

This is after the regulators — Communications Authority of Kenya (CA) and Central Bank of Kenya (CBK) — dismissed Safaricom's objections to the technology.

This could set the stage for a price war that is bound to see the cost of money transfer reduce significantly, with consumers standing to be the biggest winners.

Safaricom jealously guards M-Pesa. Apart from bringing in billions of shillings for the operator, the service acts as a powerful loyalty tool. Now, with Thin SIM, that advantage could be eroded. Equity Bank has announced that it will charge a maximum of Sh25 for amounts transacted, which could be a major assault on

Next Samsung Smartwatch Rumored to have Mobile Payment, Fingerprint Sensor
September 23, 2014, 12:18 pm

The anticipated features on the new smart device include a fingerprint scanner that will enable the device to secure payments from the wearable tech.

The reveal date will be close to rival Apple's launch date of its smartwatch, the Apple Watch. One of the big features on the first Apple smartwatch is the capability of approving payments from the device, which happens initially through a personal identification number.

As long as the Apple Watch is in contact with the user's skin, which the device determines with special sensors on its underside, subsequent payments with the device won't need the PIN.

Rumors suggest Samsung

Barclays fined £38m for putting clients' assets 'at risk'
September 23, 2014, 12:12 pm

The fine comes three years after Barclays paid out £1.1m for a similar issue.

The Financial Conduct Authority (FCA) said the bank's investment arm had put £16.5bn of clients' assets "at risk" between November 2007 and January 2012.

Barclays said it did not profit from the issue and no customers lost out.

The fine relates to activities in Barclays' investment bank, and has no impact on its retail customers.

"Clients risked incurring extra costs, lengthy delays or losing their assets if Barclays had become insolvent," the FCA said.

And FCA director of markets David Lawton said safeguarding client assets was "key" to maintaining

Are Mobile Payments really the Future of Transactions?
September 22, 2014, 2:53 pm

And soon after Visa launched a token service for securing mobile payments, once again only available in US. When the buzz in the industry is that m-commerce in India is going to be bigger than e-commerce, then why is the country still left behind in international innovations in mobile payments. We decided to ask the industry experts themselves to know where are mobile payment systems in the country headed to? Below are the excerpts from the conversations.

Bipinpreet Singh, Chief Executive Officer and Founder, MobiKwik

Mobile payments are undoubtedly going to be the future of transactions. Earlier people were talking about traffic and now

Microsoft Getting Serious About Mobile Payments With Their Latest Hire
September 22, 2014, 2:50 pm

Well according to a report from Re/code, they could be. It seems that Microsoft has recently hired Iain Kennedy, the former payments product manager who been at Amazon for the past six years before jumping ship to Microsoft. Kennedy is now the product manager for Microsoft’s commerce platform which has some speculating that perhaps Microsoft could be thinking of rejuvenating their mobile payment efforts.

This was fueled by Kennedy’s previous work in which he oversaw a product management team that was working on a new set of payment products for consumers, one of which consisted of a digital wallet app for smartphones.

Spindle Announces Support for Apple Pay Mobile Commerce Innovations
September 22, 2014, 2:45 pm

SCOTTSDALE, AZ, Sep 22, 2014 (Marketwired via COMTEX) -- Spindle, Inc., (otcqb:SPDL) ("Spindle"), a leading provider of mobile commerce solutions, announced that its Yowza!! cloud-based point-of-sale (POS) platform will support the new Apple Pay solution that will be embedded in the iPhone 6 and iPhone 6 Plus devices. For merchants that wish to accept Apple Pay, Yowza!! POS will provide payment processing through their merchant aggregation platform, which is the acquiring and settlement platform for Yowza!! POS.

"The recent news from Apple certainly validates the huge market potential of mobile commerce, and also reaffirms Spindle's strong position as a critical facilitator for these services," explained Bill Clark, Spindle's chief executive officer.

ICICI Bank says 5% of total transactions done via mobile phone
September 22, 2014, 1:34 pm

"We are witnessing a three times growth on a year-on-year basis on mobile transactions. They account for 7-10 per cent of the total digital channel and are growing in multiples," bank's head of digital channels Abonty Banerjee told reporters.

She said the digital channel, including mobile and the Internet, accounts for over half of its overall transactions at present, and is expected to grow much more. The bank said that over 2 million of its customers are active users of its various mobile apps for transacting with the bank.

Last week, RBI deputy governor HR Khan had chided

Next Samsung smartwatch: fingerprint sensor, mobile payment
September 22, 2014, 1:28 pm

Features expected to debut on this wearable include a fingerprint scanner, which would in turn enable secure payments from the smartwatch. And the timetable for this gadget? MWC 2015 in February next year.

This would conveniently coincide with Apple's own launch of the Apple Watch. One of the major features of Apple first smartwatch is the ability to authorize payments from it. That said, Apple does identification quite differently. The initial authorization happens via a PIN, but subsequent payments can be done from the Apple Watch as long as it is in contact with the user's skin. Special sensors on the underside of the watch

Snapdeal to double engineers to 700 to tap mobile commerce
September 19, 2014, 3:25 pm

Accordingly, the company has shifted half of its 350 engineers from PC to mobile commerce following the massive jump in traffic on this platform till last year. It has also seen mobile commerce soaring to 60 per cent this year from paltry 5 per cent last year.

"Our mobile commerce grew just 5 per cent last year but now we are witnessing a growth of 60 per cent. We are hopeful of receiving 75 per cent of our orders through mobile commerce within the next one year and 90 per cent over next three years," Snapdeal co-founder Kunal Bahl

Apple to partner with China Unionpay on m-payments - report

Apple to partner with China Unionpay on m-payments - report
September 19, 2014, 3:12 pm

Unionpay is a state-owned bankcard association that has been approved by the central bank to provide clearing services for bankcard transactions. Because of its near monopoly, it issues almost all bankcards in the country.

It has partnerships with the country’s major banks, some of which Unionpay reportedly has invited to develop an iOS-compatible point-of-sale system.

China has more than 3.6 million ‘flash pay’ terminals and 1.2 billion mobile connections.

With Apple yet to announce when the NFC-enabled iPhone 6 models will be launched in the mainland, there is no word on when Apple Pay would be available in China. Apple Pay is currently only offered

Samsung is teaming with PayPal for mobile payments on a watch
September 19, 2014, 3:09 pm

In the wake of Apple Pay coming to the Apple Watch early next year, Samsung is working on its own mobile payment strategy. And instead of going it alone, it has a highly motivated partner: The company is working with PayPal to bring secure mobile payments to the wrist.

Business Korea pointed out the effort and added Synaptics to the mix, whose technology may be used for fingerprint authentication, according to a Samsung executive:

We are currently developing the smart watch equipped with fingerprint identification technology and relevant solutions through cooperation with PayPal, the world’s most renowned financial transaction service company, as well as Synaptics,

BBM Users Get Mobile Payments Boost from BlackBerry

BBM Users Get Mobile Payments Boost from BlackBerry
September 19, 2014, 3:06 pm

On Thursday, the Canadian smartphone maker confirmed that it will enhance the mobile payment capabilities for users of BBM, the private social network available for smartphones running Android, BlackBerry, iOS or Windows Phone.

According to a written statement from BlackBerry, these new initiatives “will take the ability to connect and share using BBM one step further.”

“By combining our DNA around security, and the real-time collaboration and privacy attributes of BBM, we are uniquely placed in the growing mobile payments space,” explains John Sims, President of Global Enterprise Services at BlackBerry.

“These new mobile payments partnerships demonstrate how we have effectively evolved

Visa explores options to sell stake in Monitise
September 19, 2014, 3:01 pm

In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4 percent owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa's holdings have been reduced to its current 5.5 percent stake in the company, according to the press release. This reduction in ownership and associated influence is consistent with Visa's investment practice to seed emerging players and, over time, taper that influence as the partner company grows, according to the announcement.

Under their agreement, Monitise will provide Visa with mobile platform development services


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