Mobile payments provider, Obopay has inked a deal with Grameen Solutions to deliver banking services to a billion of the world’s poorest people by 2018. The Grameen-Obopay Bank A Billion Initiative will provide access to affordable financial services, including cross-border remittances, money transfer, payments, savings and credit accounts. Cellular-News reports more.
The Economic Times of India questions: Do we need regulations for these payments or do we need technological standards than operational guidelines? In case we need regulations and guidelines for mobile payments; we also need regulations for internet and phone banking. The lack of technology standards will give rise to a lot of local and fragmented versions of m-payments offered by different service providers or banking service providers. Standards need to address security and privacy concerns of consumers as well as interoperability between various implementations.