Mobile banking
Emerging markets leading the way in cutting-edge payments innovations, UK report finds
Mobile payments embraced in emerging markets where banking infrastructure lags; Kenya’s M-Pesa system handles flows equivalent to a quarter of nation's GNP
Bank of Israel unveils real-time payments plan
New payments infrastructure will support push for advanced electronic payments; committee chair identifies plans for wide range of payments improvements, including real time
UK mobile payments growth continues as Vocalink eyes overseas projects
Report identifies factors that may be holding back growth in mobile payments in the UK; Vocalink ‘hoping to be involved’ in US work on faster payments
RBI looks to ‘disruptive innovation’ to boost inclusion
Granting licences to 11 payment banks is the next step in a ‘payments revolution’ in India that should increase financial inclusion, deputy governor says, although not all technologies are benign
RBI licenses prospective mobile phone bankers
India’s central bank grants provisional licences to 11 companies to run mobile phone-based banking for poorer Indians
Riksbank deputy assesses changing payments market
Cecilia Skingsley warns capacity of mobile networks is not always sufficient to manage ‘temporary peaks' in activity; also addresses ‘changeover' of banknotes and coins
Uruguay digitises cheque clearing in payments overhaul
Central bank announces that all cheques will be cleared electronically – part of a payment system reform that will see the promotion of mobile banking
Mobile money accounts trump number of adults in Kenya, IMF data show
African bank depositors increased five-fold between 2004 and 2013, IMF's fifth annual Financial Access Survey shows; includes data on mobile money for first time
Timor-Leste central bank green lights mobile money pilot
Initiative will allow users to execute payments, transfers and withdrawals through mobile phones, and follows the introduction of a ‘master plan’ for financial sector development
Effective oversight needed to consolidate gains from mobile payments infrastructure
Increased diffusion of mobile payments in developing countries calls for better oversight, IMF paper says - recommending that central banks cooperate with other regulators
Kenya's M-Pesa mobile money app launches in Romania
East European country is the first territory in Europe to get the mobile cash transfer technology, which also launched in India last year
Fed finds 75% of US citizens reluctant to pay by phone
While mobile banking continues to grow, many consumers are growing more sceptical of services and the security of the technology, according to a Fed survey
Rajan looks to mobile banking for financial inclusion
Reserve Bank of India governor says that India is not ‘where it should be’ on mobile payments and calls on telecom firms to help drive the proliferation of cheap and safe payments
Governors grapple with regulatory implications of African mobile money growth
African central bank heads agree to develop comparative surveys of mobile money regulation, as mobile banking takes off
ECB launches public consultation on mobile payments security recommendations
The governing council of the ECB asks market participants to comment on draft recommendations intended to make mobile payments more secure; interested parties have until January 31 to weigh in
RBI sets up mobile banking committee
Committee will examine the possibility of introducing a payment system allowing millions of unbanked Indians to make transfers using their handsets
Fijian governor foreshadows application of mobile payments in agriculture
Barry Whiteside says mobile banking is fast becoming an ‘accepted mode of payment’ and has the ability to transform Fiji’s agricultural sector
UK prepares for mobile payment apps
The Payments Council is launching a new mobile payments platform in the UK in 2014, and seminar participants discussed the challenges it will face
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
Regional Feds launch push for faster payments
The 12 Federal Reserve regional banks outline a broad 10-year plan for generating a faster, more efficient payment system; look to industry for specifics
Banque de France launches mobile app
Users can access key statistics, speeches, news and other information from the French central bank through their mobile phone
UK consumers drop cash in move towards mobile payments
British Retail Consortium says cash usage fell sharply last year, while research by VocaLink finds a strong uptake of mobile payments by consumers, though retail payments are still dominated by cash
Brazil second in world for non-cash payments
World Payments Report reveals Brazil is second only to the US for volume of non-cash payments; use of electronic and mobile payments shows ‘exponential growth’
Zambian governor calls for shared mobile banking platform
Michael Gondwe discusses the role of mobile banking in financial inclusion; says cooperation between payment systems will help widen access