Nigeria: CBN Explains Restriction of Telcos From Mobile Banking Services
"The Central Bank of Nigeria (CBN) yesterday gave reasons for the restriction of telecommunication companies from offering mobile banking services in the country. The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, stated that telcos were not given the opportunity to provide mobile payment services because the central bank did not have direct control over them."

CBN Blames Failure Of Telecoms Synergy On Mobile Payment Hassles
"The CBN says its inability to regulate operation of the telecoms is responsible for their exclusion in the mobile banking system, an approach which is being criticised by analysts. CBN’s Director, Banking and Payments system department, Mr Titus Fatokun, however, says that despite this development, mobile money transfer has recorded N9.2 billion in value and 275,558 in volume as at May 2013."

ING GROEP : European consumers empowered by mobile banking
"More than a third (37%) of almost 12,000 internet users surveyed in 12 European countries are already using mobile banking - and many credit the technology with providing more control over their money. While being able to bank on the go is very popular, cash is still favoured for ultimate control of budgeting and spending. Social media is booming and is mostly used to get better insight into money matters and is set to grow as many young people expect to be able to make payments via social media, according to the ING report entitled Financial Empowerment in the Digital Age."

Monitise and Telefonica Enter Mobile Money Partnership
"Monitise plc UK:MONI -1.38% announces it has become the preferred Mobile Money technology partner for Telefonica Digital to develop and manage new and existing mobile payment and commerce services for its customers."

HSBC Bank Oman launches secure key for internet banking and upgrades mobile banking app
"Having been the first bank to provide Internet Banking in the Sultanate, it is now one of the first banks in Oman to offer this service. Secure Key provides customers with an extra layer of security when they access their accounts online, bringing the best of HSBC's global capabilities and technical expertise to customers across the Sultanate in a simple, secure and efficient way. The bank has also upgraded its mobile banking app which is available for Android powered devices. With its new look and feel and simplified navigation, the new app allows customers' funds transfer facilities between their HSBC accounts, in addition to a better user experience."

Standard Bank closes WAP mobile banking
"Standard Bank is set to discontinue its Wireless Application Protocol (WAP) cellphone banking service from 8 July 2013. The bank notes that this service makes up only a fraction of its total mobile banking registered customer base, saying further that its app service has achieved 170,000 unique registered users since it launched a year ago. As at 31 December 2012, the bank claimed to have 11 million retail and business customers in South Africa."

Product review: Barclays’ CashSend, Hello Money
"The single biggest weapon in the mobile money transfer services (MMT) arsenal — EcoCash — is, however, effectively in the hands of a non-bank player and it has made significant inroads into traditional banking territory. While banks are expected to wage a sustained battle for a piece of the unbanked pie, it would be unwise for them to concentrate only — or mainly — on that without also coming up with strategies for protecting their existing customers from the onslaught of game-changing MMT products such as EcoCash. In their quest to craft appropriate strategic responses, banks have responded in basically two ways."

Brandon Duncan of LinkedIn says, "Today, I'd like to announce LinkedIn mobile for any Web enabled wireless phones that use the wireless application protocol (WAP). What that allows you to do is access LinkedIn from any mobile device ranging from your Blackberry to iPhone." The url to access the site is http://m.linkedin.com/

To read the full post and view a short video on the solution click here.

Due to the Wells Fargo product launch, there have recently been a tremendous number of articles written about the WAP solution. Most of us know the standard pro’s and con’s:

Pro’s –
* Relatively inexpensive
* Quick to implement
* Perception of technologically advanced
(i.e. for having a live mobile offering)

Con’s –
Dependent upon phone browser
Difficulty in consistent rendering to thousands of different handsets

However, there is potentially another negative aspect that is not as well known – carrier fees. In the June 2007 issue of US Banker John Engen discusses the WAP solution with a number of subject matter experts including Bob Egan (chief analyst at Tower Group) and Dan Schatt (analyst at Celent.) In the article, which I highly recommend reading, Engen writes, “even so, Egan says he knows of at least one situation where a carrier is threatening to block access to a bank’s mobile site, because of no financial agreement. ‘At the end of the day, the carrier can control and block domain addresses,’ Schatt says. ‘They might not want to exercise that power, but that’s the reality.’”

Now, obviously a carrier blocking a bank’s domain would be aggressive, but it’s not out of the realm of possibility. Also, isn’t this similar to the topic of net neutrality? (learn more: savetheinternet.com) I’d love to hear what others think about this topic.