We have taken a look at the permissible branchless banking models in our earlier post and have seen them all to bank led. At the third international mobile commerce conference recently held State Banks’s Deputy Governor, Yaseen Anwar, has indicated of a Teleco led model of branchless banking is being considered. The staff report from Dawn News gives the details.
It looks like e-wallets and mobile commerce are on top of agenda for large telecom companies. China Mobile agreed to buy 20 percent of Shanghai Pudong Development Bank for 39.8 billion renminbi ($5.8 billion) to expand its electronic payment business.
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At the time of launch of easypaisa, many people wanted a service they can host from their mobile phone. I see mobile accounts as the service that lets you do that. It is not any over the counter service like bill payments and money transfer but a virtual Bank Accounts opened for Telenor subscribers to access from their own mobile phones at any time.
Easypaisa gets ISO/IEC 27001:2005 certification for Information Security Management System (ISMS) for mobile banking services. The PR received from Telenor Pakistan give the details.
I came across an article in New York Times on advances in shopping technologies. The effort to turn people’s mobile phones into information displays and ordering devices is on. Here’s a quick list of the technologies you could see on a cell phone soon:
Shoppers will soon be able to stand outside the designer Norma Kamali’s boutique in Manhattan, point a phone at merchandise in the window and buy it — even late at night when the store is closed. How? By using technologies such as ScanLife which allows customers to scan bar codes on merchandise. Other apps allow users to do perform product search and price comparison through barcodes.
Technology convergence, wireless panorama’s fast and furious change, SMS, MMS, voice call, internet in the pocket, data throughput boost, high speed internet and video call, that was all I could think of while finalising my final year project proposal. But today I write about something I didn’t think will go mobile so soon. Forget me, who thought that one can pay bills, transfer money and use many more services from their own mobile phones, anytime, anywhere.
Yes it is possible today, Telenor and Tameer Bank have taken the easypaisa suite one step ahead by introducing ‘Mobile Account‘ in Pakistan.
Mobile World Congress, the world’s biggest event for all things mobile lasted for three days from 15-18 February. Apart from developments in applications, new OSs, smartphones debut, alliance formations and much more, the 2010 also event featured two full days of mobile money.
Earlier the mobile money was limited to just a few hours side session, but with the growing global focus on mobile banking, this year it comes bigger. Paul Leishman from GSMA’s mmublog shares his review of the event.
Easypaisa’s success has not only being lauded nationally but like in the cross-post from the mmublog.org it is also being appreciated internationally. It is now being reviewed on CCN Edition along with other mobile banking initiatives. It mentions that EasyPaisa is the first venture in Pakistan to do this; 89 percent of Pakistan population is unbanked. It also indicates about the Easy Paisa plans to launch a Mobile Account service that features savings and withdrawals in near future.
Growth of Pakistan telecom industry took a hit in recent months because of economy and regulation of SIMs. Even though the number of new subscribers slowed down and the revenues per user remained low, Pakistan telecom industry has shifted to a whole new set of services which provide value and convenience in ways not possible before. One of the interesting trend of 2009 was the rush to offer financial services via mobile phones aka mobile financial services (MFS). These services include transactions such as remittances (person-to-person payments), payment of bills and others commerce enabled by mobile/cellular technology. This post provides an overview of MFS in Pakistan.
We yesterday mentioned in our tweet about Mobilink President Rashid Khan hinting on the leapfrog to 4G bypassing the 3G. He also tells about the broadband ‘infinity’ expansion plan and their plan with booming mobile banking concept. The complete story is hereunder.
Mobile banking has undoubtedly taken the lead with the collaborative mobile banking model, where collaboration takes place between the carriers and the banks who can distribute the roles of the value chain amongst themselves. An example of this is ‘easypaisa‘ from Telenor Pakistan and Tameer Bank.
The video posted earlier explained the need leading to easypaisa ‘Money Transfer’, this post give details of the process and some other information which users may like to know.
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