Entries with tag mobile payments.

Orange, mBank Collaborate on Polish Mobile Banking Services

The Polish branch of French telecommunications provider Orange  and mBank, a unit of Germany’s Commerzbank, are collaborating on a project designed to provide mobile financial services to customers in Poland. The companies said they are creating a mobile retail bank for Polish smartphone and tablet users that will appear under the Orange brand in the second half of 2014. Services will likely include bank accounts, loans, and bank cards. Orange and mBank offered no financial details regarding the project. (Reuters)(Mobile Payments Today)

 

Kenyan Service Combines Bitcoin, Mobile Payments

A recently launched service in Kenya combines virtual currency with mobile payments. Kipochi, “wallet” in Swahili, allows users to purchase Bitcoin with M-Pesa, a popular mobile payments system for small transactions used by about a third of the nation’s 44 million residents. The web service was created by Pelle Braendgaard, entrepreneur and programmer. He says adding Bitcoin would enable people to receive funds from outside Kenya without expensive bank or wire transfer fees. Kenyan expats reportedly send an average of about US$99 million per month back home. Coupling it with M-Pesa eliminates some of the complexity associated with using Bitcoin. There is a small fee associated with using the service, but Kipochi is a free service.  Braendgaard says he is working on porting the application to the phone as well as a merchant-based platform for Bitcoin. (Computerworld)(Kipochi)

Financial Giants Cash In on Mobile Money

Several global financial groups have announced at this week’s Mobile World Congress in Barcelona that they are entering the mobile payments market. Fighting for a slice of the market are some players previously reticent to dip a toe into the mobile money market, including MasterCard, Visa, and PayPal. . People are increasingly using smartphones—rather than cash or credit cards—to make payments. MarketsandMarkets, a research firm, estimates the mobile-money industry should grow from $13.8 billion in 2013 to $278.9 billion by 2018. (PhysOrg)(AFP @ GlobalPost)

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