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TRAI proposes to drop fees for USSD-based mobile banking services
TRAI has proposed to remove tariffs for USSD-based banking and payment services to boost financial inclusion in India’s rural areas. Read more…
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Why should the latest mobile banking Trojan, EventBot, concern telcos?
A newly-created mobile banking Trojan, named EventBot, can not only grab passwords, but also intercept two-factor authentication codes as well Read more…
Off the Wire
India leads mobile banking charge but perhaps not for much longer: report
India leads the world for regular mobile banking usage as a proportion of online consumers with current accounts, but growth is slowing, while Sweden has risen to second place in the global rankings thanks to Read more…
Off the Wire
GSMA launches scheme to certify mobile money service providers
The GSMA has launched a global scheme for mobile money providers to offer safer, more transparent and more resilient financial services to millions of mobile money users around the world. Announced at the industry organization’s Read more…
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ABA Bank enables real-time money transfers with SmartLuy wallet
Cambodian commercial bank ABA Bank has expanded its partnership with cellco Smart Axiata to connect ABA accounts with Smart’s SmartLuy wallet for fund transfer services. Under the expanded partnership deal, customers now can execute money Read more…
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Criminals are exploiting SS7 and SMS-based authentication to drain bank accounts
ITEM: Cyber criminals are reportedly exploiting long-existing security flaws in the SS7 signaling network to hack SMS-based two-factor authentication for banking services and successfully steal money from their customers. That’s according to Motherboard, citing a Read more…
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Mobile financial services plus data science could boost prepaid market by $70b: Juvo
Mobile financial services driven by data science will significantly impact the global pre-paid market, increasing operator revenues by as much as $70 billion, claims a new report from mobile identity scoring firm Juvo. According to Read more…
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Rumor: Apple seeks partners to launch money-transfer service
(Reuters) – Apple has held talks with payments industry partners about launching a money-transfer service, technology news website Recode reported on Thursday. The service will allow iPhone owners to transfer money digitally to other iPhone Read more…
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Singtel and Telkomsel launch real-time mobile remittance for Indonesian migrants
Singtel and Telkomsel have launched a real-time mobile remittance service to Indonesia offered by SingCash under the Singtel Dash brand. The new service allows customers in Singapore to send money to PT Pos Indonesia’s 4,500 Read more…
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Ant Financial and Ayala take minority stakes in Globe Telecom’s Mynt
Globe Telecom has announced that Alibaba-owned Ant Financial Services Group and Ayala will invest in Mynt – a.k.a. Globe Fintech Innovations, a wholly-owned subsidiary of Globe Capital Venture Holdings (GCVHI) under Globe Telecom – with Read more…
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Bharti Airtel commits $441m to launch payments bank
MUMBAI/NEW DELHI (Reuters) – Bharti Airtel, India’s top wireless carrier, on Thursday unveiled a so-called payments bank, committing an initial investment of 30 billion rupees ($441 million) to build a nationwide network. Airtel Payments Bank Read more…
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Airtel Payments Bank opens live mobile digital banking pilot in Rajasthan
Airtel Payments Bank, a fully digital bank and a subsidiary of Bharti Airtel, has rolled out a pilot banking service in Rajasthan, with the goal of testing systems and processes ahead of a full scale Read more…
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Trai slashes USSD tariffs to boost mobile banking services in India
The Telecom Regulatory Authority of India (Trai) says it has lowered the ceiling tariff for USSD in order to boost mobile banking and payment services that use USSD short codes. Trai said in a press Read more…
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Emerging APAC could drive mobile financial transactions to $500b in 2021
The total transaction value of mobile financial services in emerging markets (including domestic money transfers, deposits on loans, insurance products, and savings accounts) will approach $500 billion in 2021, up from an estimated $198 billion Read more…
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Citibank adds Touch ID biometrics to mobile banking app in Hong Kong
Citibank has launched a Touch ID Sensor authentication service in Hong Kong that enables clients to log on to the Citi Mobile App on their iPhone devices with their fingerprints. This is the latest addition Read more…