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Western Union and MoneyGram International are looking for new revenue streams in Asia, in particular looking for ways to displace Asia’s informal money transfer channels, which continue to grow. The best known of these is Hawala, a system largely based on word of mouth and trust whereby a network of people transport money. It is [...]

The post International remittance firms join the scramble in Asia appeared first on Payments Cards & Mobile.

Fiserv has launched “ZashPay”, a person-to-person (P2P) payments service that will allow consumers to tap into a community where they can quickly send or receive money using their existing online banking accounts. With ZashPay, “consumers will be able to send money to anyone they know using only an e-mail address or mobile phone number. The [...]

The post Payments firms speed P2P transfers appeared first on Payments Cards & Mobile.

Payments companies are keen to develop ways of speeding the settlement of P2P transactions to increase their appeal to mobile users. Several operators of P2P systems intend to increase the speed of transfers through tie-ins to credit and debit networks, and they believe that this strategy could open up a new source of fee revenue [...]

The post Where we are with Mobile Money? appeared first on Payments Cards & Mobile.

Ralph Waldo Emerson once said “Money often costs too much.” Certainly banking and money transfer services often seem inveterately overpriced and are completely inaccessible to huge numbers of people in the developing world. Mobile money has the potential to change all that, not to mention how we pay for goods in the developed world. Mobile [...]

The post 18-34 year olds drive European m-commerce appeared first on Payments Cards & Mobile.

­A report commissioned by the Mobile Marketing Association (MMA) revealed that the UK has the highest number of consumers participating in m-commerce, with 19% doing so in April 2010. Some 13% of Germans and 9% of French also partake in m-commerce. The 18-34 year old age group is the primary driver of m-commerce across all [...]

The post Fortune 500 will offer m-commerce appeared first on Payments Cards & Mobile.