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Special Report on

Visa Pilots Mobile Banking Program

visa pilots mobile banking program special research report Photo by technology.cgap.org
While on a trip to South Korea, Chen, a 24-year-old graphic designer from Sacramento, Calif., noticed how people whipped out cell phones when it came time to pay. One of her friends had a mobile phone from SK Telecom, South Korea’s biggest mobile operator, that let her fill her commuter train account when it fell below a certain amount, and remotely send the charges to her Visa account. “She just held out her phone as we walked through the turnstile,” said Chen. “I got spoiled. Now I want to do the same with my phone.” That’s what credit card issuers want to hear from customers, and ...
The company was formed in June 2006 by the combination of two companies Axalto and Gemplus. Gemalto’s 2008 revenue was €1.4 billion. 1 Governments, wireless operators, banks, and enterprises use Gemalto’s personal devices such as SIMs in mobile phones, smart bankcards, e-passports, identity credentials and USB tokens. In 2008, the company produced more than 1.4 billion personal security computing devices. 1 The company's customers include 400 mobile network operators, 300 financial institutions and more than 30 nations for identity programs like electronic passports, driver’s licenses and national identity cards. 1 Gemalto ...
REVIEWS AND OPINIONS
Will that be cash, check or cell phone?
While on a trip to South Korea, Chen, a 24-year-old graphic designer from Sacramento, Calif., noticed how people whipped out cell phones when it came time to pay. One of her friends had a mobile phone from SK Telecom, South Korea's biggest mobile operator, that let her fill her commuter train account when it fell below a certain amount, and remotely send the charges to her Visa account. "She just held out her phone as we walked through the turnstile," said Chen. "I got spoiled. Now I want to do the same with my phone." That's what credit card issuers want to hear from customers, and they're working hard on rolling ... market research, surveys and trends
Visa, SK Telecom Announce Plans to Launch Mobile Payments in South ...
Visa International and SK Telecom have announced plans to launch "what they expect to be the world's first contactless payment application on a universal SIM card which is personalized over-the-air." Visa and SK Telecom plan to implement this large-scale commercial service in South Korea in April 2007 with an OTA solution based on Visa's recently announced mobile platform. The two organizations also agreed to develop new business models and to seek business opportunities overseas by spreading the OTA-based USIM service. Overseas cooperation activities will include efforts to establish global standards for OTA ... market research, surveys and trends

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VISA PILOTS MOBILE BANKING PROGRAM

Financial Services Cases, Items 1 to 50
10-12-2009 Although insurance executives see real potential in Web 2.0 to support agents and distributors, they're still waiting for hard evidence of the true business value of social media, Burger writes. Mint.com Uses Email as a Personal Finance Tool , by Elizabeth Glagowski, 1 to 1 , 11-30-2009 Mint.com sends targeted email marketing campaigns to its 1.6 million users to get the word out about new products and services, special promotions, or company updates. It also sends opt-in users a weekly summary of their account at a glance. Fifth Third Bank Expands Footprint With Web-Based RDC Offering , by Nathan Conz, Bank ... industry trends, business articles and survey research
Visa rolls out NFC contactless mobile payments commercially ...
Visa Inc. has launched the world's first commercial mobile payments service for point-of-sale transactions using Near Field Communications technology. The service marks the first time consumers can buy an NFC-enabled mobile device off the shelf and use that device to make Visa payWave-enabled transactions at the point-of-sale instead of using their payment card. Maxis, the largest wireless carrier in Malaysia with more than 11 million subscribers; handset manufacturer Nokia; and Maybank, a leading financial institution in Malaysia, have teamed with Visa to offer Visa payWave on mobile devices. "Our mobile strategy is ... industry trends, business articles and survey research
RELATED NEWS
BofA and Visa to test cell phone payments
(Reuters) - Bank of America Corp, the largest U.S. consumer bank, and Visa Inc, the world's largest payment processor, plan to begin a test program next month that lets customers use smartphones to pay for purchases in stores. The program, to run from September through the end of the year in the New York area, is the biggest step yet by the two companies toward creating a "digital wallet" with a host of financial capabilities built into the latest, most sophisticated mobile phones. Major U.S. banks, technology companies and cellphone providers are jockeying for the lead in the technology, which some say could ... market trends, news research and surveys resources
Bank Of America, Visa Pilot Mobile Payments
Customers will be chosen to install chips into smartphones, which they will wave at point-of-sale devices in stores to complete purchases. August 23, 2010 02:23 PM Slideshow: Microsoft's Windows Phone 7 Revealed Starting in September, Bank of America customers will be eligible for a test program allowing them to pay for store purchases using their smartphones. The country's largest consumer bank is partnering with Visa to run the pilot in the New York area, marking the biggest step the two companies have taken so far to create a "digital wallet" with a range of financial capabilities. Visa will undertake a ... market trends, news research and surveys resources

INFORMATION RESOURCES

Is Mobile Banking Getting Connected?
Pilots by Visa Inc. and. MasterCard Worldwide seemingly blossomed everywhere. Then, static on the line. ...... tively young mobile-banking program. The ... technology research, surveys study and trend statistics
FDIC: Alternative Financial Services: A Primer
Alternative financial services (AFS) is a term often used to describe the array of financial services offered by providers that operate outside of federally insured banks and thrifts (hereafter referred to as "banks"). Check-cashing outlets, money transmitters, car title lenders, payday loan stores, pawnshops, and rent-to-own stores are all considered AFS providers. However, many of the products and services they provide are not "alternative"; rather, they are the same as or similar to those offered by banks. AFS also sometimes refers to financial products delivered outside brick-and-mortar bank branches or ... technology research, surveys study and trend statistics
The m-banking Revolution Will Not Be Televised | Liberation ...
earn 8% more from their produce, retail buyers pay 4% less. So far, producers and buyers were using mobiles only for price negotiation, cutting out middle men and saving time so crucial for perishable items. Now, without even having a bank account, buyers and sellers in the least developed countries can use mobile-linked no-frills accounts not only to enable cash deposits and withdrawals but also to transfer money from one account to another, solely by using a mobile phone. But the success of mobile banking has become even more visible in the wake of the Haiti earthquake catastrophe, when millions of dollars were raised in short ...
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VISA PILOTS MOBILE BANKING PROGRAM
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