Tag Archive for ‘bank’ at LIRNEasia

Tag Archive for 'bank'

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Cellphones as wallets: Royal Bank of Canada, Visa test mobile technology

on November 2, 2007

Royal Bank of Canada and Visa Canada announced Thursday (Nov 1) they are testing technology that would allow people to use their cellphones as electronic wallets.

The bank and credit card company said they are launching an Ontario-based pilot project, to be conducted in three stages in 2008, that would allow consumers to simply swipe their phone in front of a scanner to make simple purchases.

The pilot program will begin with laboratory testing followed by two trials, one for RBC employees in early 2008 and another, larger trial later in the year with consumers.

Read the full story in ‘CBC News’

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Tags: bank, mobile technology, Ontario, Royal Bank of Canada, Visa Canada.

Cell Phones Double as e-wallets in RP

Lorraine Salazar

on October 4, 2007

Cell phones double as electronic wallets in RP
By Oliver Teves
Associated Press
Last updated 10:42am (Mla time) 09/30/2007
Philippine Daily Inquirer

SAN MIGUEL, Philippines–It’s Thursday, so 18-year-old Dennis Tiangco is off to a bank to collect his weekly allowance, zapped by his mother–who’s working in Hong Kong–to his electronic wallet: his cell phone.

Sauntering into a branch of GM Bank in the town of San Miguel, Dennis fills out a form, sends a text message via his phone to a bank line dedicated to the service.

In a matter of seconds, the transaction is approved and the teller gives him P2,500 (US$54), minus a 1-percent fee. He doesn’t need a bank account to retrieve the money.

More than 5.5 million Filipinos now use their cell phones as virtual wallets, making the Philippines…

1 Comment
Tags: Ahli United Bank, Anna Tiangco, Associated Press, ATM, Bahrain, bank, bank account, bank accounts, bank line, bank products, bank wire transfer, cell phones, cellular telephone, computer chip, Dennis Tiangco, e - commerce, e-wallets, Etisalat, EUR, financial transactions over mobile networks, G-Xchange, Globe Telecom, GM Bank, HKD, Hong Kong, Hong Kong CSL Ltd., Joseph Estrada, Kenya, Middle East, Mobile banking, Mobile banking services, mobile phones, money transfer service, MTC, Peso, Philippines, Ramon Isberto, Rizza Maniego Eala, SAN, San Miguel, Smart, Smart Communications, South Africa, telecommunications operator, the Philippines, UAE, United States, USD, Vodafone.

Mobile money in the Philippines

Rohan Samarajiva

on October 2, 2007

Cell phones double as electronic wallets - Yahoo! News

Mobile banking services, which are also catching on in Kenya and South Africa, enable people who don’t have bank accounts to transfer money easily, quickly and safely. It’s spreading in the developing world because mobile phones are much more common than bank accounts.

The system is particularly useful for the 8 million Filipinos — 10 percent of the country’s citizens — who work overseas and send money home, like Dennis’ mother, Anna Tiangco. Previously, she sent money via a bank wire transfer, which costs $2.50 and takes two days to clear. The cell phone method costs only 13 cents and is nearly instantaneous.

2 Comments
Tags: Anna Tiangco, bank, bank accounts, bank wire transfer, cell phones, cellular telephone, cents, Dennis, Kenya, Mobile banking, Mobile banking services, mobile phones, South Africa, the Philippines, USD, Yahoo!.

More mobile money moves

Rohan Samarajiva

on September 3, 2007

Close on the heels of Hutch’s mobile-to-mobile payment service and Dialog’s EZ Pay solution, comes a platform-independent solution from the bank which introduced ATMs to Sri Lanka in the 1980s.

LANKA BUSINESS ONLINE - LBO

Sri Lanka’s Sampath Bank’s has started an electronic cash transfer method lets account holders transfer cash to all mobile brands or CDMA phone, officials said.

“This facility will let customers send money to any person with a mobile phone or a CDMA phone without changing SIM cards. All you need is an account with Sampath Bank,” Anil Amarasuriya, managing director of Sampath Bank said.

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Tags: Anil Amarasuriya, bank, CDMA, cellular telephone, platform-independent solution, Sampath Bank, Sri Lanka.

Mobile phone banking being piloted in India

Divakar Goswami

on May 21, 2007

Hindu Businessline

ICICI Bank is gearing to conduct a test run next month. The bank
has tied up with Airtel and mChek for the purpose, said Mr Sachin
Khandelwal, Head - Cards Product Group of ICICI Bank.

“A virtual card will be created on the phone through which an individual can carry out complete banking transactions.”

Mr Khandelwal said all a customer had to do was to give his mobile number and the payment to be made to the merchant.

The merchant will furnish the information given via his mobile
to mChek, a mobile payment platform, which in turn will channel it to
the bank for authorising the transaction, before which mChek will seek
customer authorisation (PIN entered authorisation) to carry forward the
transaction.

Once cleared by the customer, the confirmation will be sent to
the customer…

1 Comment
Tags: bank, cellular telephone, ICICI Bank, India, Mobile phone banking, Sachin Khandelwal.

Mobile money transfers services awaiting Govt approval in India

Divakar Goswami

on March 11, 2007

A number of Indian mobile operators have been pilot-testing transferring money using mobile handsets. There are 160 million mobile subscribers in India far outnumbering the bank branches in the country (70,000). The service could potentially allow mobile users to transfer money electronically via the handset directly and instantaneously to another mobile subscriber in the country without having to use bank accounts. However, this service cannot be rolled out until the operators are given regulatory approval both from the banking regulators and telecom regulators. But a more restricted service which would still keep banks in the loop may have a higher chance of getting a quicker approval. Bharti (Airtel) is partnering with the State Bank of India (govt bank with widest coverage) for such a service.

Mobile…

1 Comment
Tags: Africa, Applications & Solutions Group, bank, bank account, bank accounts, bank branches, govt bank, India, Mahesh Prasad, Mobile banking, money remittance applications, State Bank of India, the Philippines.

Why no toll free numbers?

Rohan Samarajiva

on February 2, 2007

Sri Lanka completed a major change in the numbering plan in 2003. That included provision for toll free numbers. However, from the report below, it appears that the necessary implementation actions have not been taken.

LANKA BUSINESS ONLINE - LBO

Though Sri Lanka does not have a toll free number system, HSBC has arranged with fixed and mobile operators to offer a toll free number.

“We will expect lot more customers to use phone banking as it is easier and free of charge,” says Chandima Liyanage, who is in charge of HSBC’s distribution channels.

About 140,000 customers were already registered with HSBC’s English language phone banking service.

But the new service is automated with synthesized voices in three languages, which the bank is hoping will persuade more customers to use…

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Tags: bank, Chandima Liyanage, English language phone banking service, HSBC, Phone banking, Sri Lanka, telephone lines.

Teleuse and Living Conditions in the North & East (Sri Lanka)

Ayesha Zainudeen

on October 10, 2006

Findings from two surveys

The Centre for Poverty Analysis (CEPA) held its twenty-seventh Open Forum, to discuss “Living Conditions of the North and the East” of Sri Lanka in relation to the rest of the country from the findings of the Consumer Finances and Socio Economic (CFS) survey 2003/2004 conducted by the Central Bank. This is the eighth of a series of CFS surveys conducted by the central bank that dates back to 1953. The survey yielded the first set of household data on the North and the East since 1983. The CFS survey was conducted immediately after the cease fire spanning over 2003/2004.

“Living Conditions of the North and the East” was presented by Dr. Anila Dias Bandaranaike, Director, Department of Statistics, central bank.

The presentation was discussed by Rohan Samarajiva, Executive Director…

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Tags: Anila Dias Bandaranaike, bank, Central Bank, Centre for Poverty Analysis, Rohan Samarajiva, Sri Lanka.

Big picture of telecom reforms

Rohan Samarajiva

on November 7, 2004

Yesterday, I spoke to a large and restive crowd (made so by lack of air conditioning and a delayed start) in Matara (main city in the South of Sri Lanka) at the launch of the Pathfinder Foundation’s first book, a Sinhala translation of Janos Kornai’s Toward a free economy. I was asked to talk about globalization and the relevance of Kornai’s ideas for facing the challenges posed by globalization. In this talk that I pieced together thanks to time zone differences that caused me to wake up at 3 in the morning while in the US, I illustrated the issues referring to Business Process Outsourcing (BPO), a broad area of service exports for which efficient, flexible and low-cost telecom is a pre-condition.

I think the talk provides…

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7 Comments
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