Mobile banking
Swift paper warns not to transplant Kenya’s inclusion strategy
Harvard Kennedy School lecturer explores the factors behind M-Pesa’s success in Kenya, and warns against simply copying the country’s approach to inclusion elsewhere
Reserve Bank of Zimbabwe cuts electronic payment charges to tackle cash shortage
Central Bank introduces latest measure to combat cash shortage by encouraging use of electronic payments; mobile payments on the rise but card use still low
Norges Bank deputy: lack of common infrastructure hampers faster payments
Limited collaboration between banks in Norway is hampering availability of real-time payments and causing Norway to fall behind, Jon Nicolaisen says
Afghanistan needs to use mobile money better, governor says
Mobile payments cut costs and risk, but take-up is hampered by lack of awareness, confidence and an “all-inclusive ecosystem”, says Sediq
Fijian annual report shows ‘huge decline’ in mobile money active agents
Reserve Bank of Fiji documents 84% decrease in registered active agents, while number of people registered for mobile money increased
Kenya sees a reduction in use of bank services
Mobile payments preferred, with 47.8% of the population using mobile services on a daily basis; banks now mainly used for salary payments
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