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Why digital wallets are a hit in China, India

International Finance DeskJanuary 31, 2016

by International Finance DeskJanuary 31, 2016

The reason is the huge proportion of the population that does not have a bank account IFM Correspondent January 31, 2016: Consumers around the world are increasingly using mobile phones to make online payments. This is helped by the increase in the number of people using smartphones. According to Statista, the overall number of mobile...

Banking

Battling for billions

International Finance DeskJuly 30, 2015

by International Finance DeskJuly 30, 2015

New mobile payments provider Equitel heats up competition in Kenya Amoxers Wachira July 30, 2015: In Kenya, it is unbelievably easy to complete transactions using a simple mobile phone handset. Such is the success of M-Pesa, Kenya’s pioneering mobile payments platform, that the country has been thrust in the unlikely position of a global leader...

Fintech

M-commerce set to leave e-commerce behind

International Finance DeskJuly 22, 2015

by International Finance DeskJuly 22, 2015

However, companies need to invest more in mobile commerce to make the experience seamless for consumers Suparna Goswami Bhattacharya July 22, 2015: In the last decade, the one revolution that has taken everybody by storm is probably the evolution of mobile phones. From a device meant for making and accepting calls to a multipurpose gadget,...

Fintech

IT, mobile to drive growth in retail

International Finance DeskMay 26, 2015

by International Finance DeskMay 26, 2015

For retailers, factors like reduced time to market, less inaccuracies, no manual latency will be the differentiators Suparna Goswami Bhattacharya May 26, 2015: A couple of months ago, Tesco hit the headlines when it opened the world’s first virtual supermarket store in South Korea’s Seoul subway station. The pillars and platform screen doors of the...

Fintech

‘Payments via mobile phones are predicted to grow to $58 billion by 2017’

International Finance DeskApril 23, 2015

by International Finance DeskApril 23, 2015

IFM spoke to Andrew Schrage, co-founder of Moneycrashers.com, about the changes in payment systems April 23, 2015 Karan Belani How do the various payment systems — cash, cheque, credit cards, net banking, mobile payment — compare in terms of 1. Cost incurred by the customer 2. Safety issues There are virtually no costs incurred by...

Fintech

Best way to advertise? Get on an app

International Finance DeskApril 22, 2015

by International Finance DeskApril 22, 2015

From e-commerce to gaming firms, all are betting big on appvertising Suparna Goswami Bhattacharya April 22, 2015: There was a time not too long ago when advertisers struggled to fit in their ads in mobile apps. They could hardly accommodate five words and a small picture, which was too minute to even get noticed. Secondly,...

Fintech

Should you trust mobile banking?

International Finance DeskOctober 30, 2014

by International Finance DeskOctober 30, 2014

It’s helpful provided you are careful on how you use access to the internet Tim Ring October 30, 2014: Our plummeting faith in new technology was starkly illustrated last year by the Russian secret service. In the wake of whistleblower Edward Snowden’s revelations of mass electronic spying by the Americans, the Kremlin agency tasked with...

Banking

Mobile, i-banking transactions worth nearly £1 billion a day in UK

International Finance DeskJuly 22, 2014

by International Finance DeskJuly 22, 2014

In 2014, the rate of adoption of digital banking grew strongly with more than 15,000 people downloading banking apps a day July 22, 2014: Mobile and internet banking are now being used for transactions worth nearly £1 billion a day in the UK, according to a major industry-wide report into consumer-friendly technology by the BBA...