Thursday, July 21, 2011
Friday, July 1, 2011
Tuesday, May 24, 2011
A Website To Cut Your #CreditCard Processing Fee - Sites To Use
FeeFighters is a shopping comparison site for credit card processing and it saves 40% on average on businesses credit card processing.
Site provide easy to use UI and you will get bid within minutes of joining it.If you are a business then this site is absolutely free for you because they will charge it from processor once you join them.
Friday, May 20, 2011
Most People Ready to Make Payments with Their #Mobile Phone
2011 is the beginning of the NFC mobile payments era and consumers are eager to pay with their mobile phones at stores, stadiums, restaurants and etc. – for convenience or impress a date. Well, that’s what we found in a recent survey we conducted with U.S. consumers.
Defined as a mobile generation with its pulse on digital trends, 18-34 year-olds are particularly ready to take their transactions to the next level:
- 63 percent of 18-34 year olds would be at ease using mobile phones to make purchases versus those age 35 or older (37 percent).
- Consumers ages 18-34 (65 percent) feel more naked without their phones than their wallets, compared to 34 percent of those in the 35 and older group.
Tuesday, May 17, 2011
Akbank #Mobile #Money #Transfer #iPhone #Application [Update: Functionality] (Para Gonder Uygulamasi)
http://itunes.apple.com/tr/app/para-gonder/id437256228?mt=8
Akbank's Para Gönder (translation: Send Money) iPhone Application
Send money from:
- Chequing account
- Credit card
Send money to:
- Any recipient's GSM number to be withdrawn from an ATM
- Akbank customer's GSM number to be transferred to their chequing account
- Any credit card
Monday, May 2, 2011
Money Messenger Powered by #PayPal for Your #Discover #CreditCard - SocialTimes.com
Discover Mobile 2.0 (iTunes App Store)
The only information needed to transfer funds is the payee’s email address or mobile phone number. The person receiving the payment needs a valide PayPal account. The person sending money is not charged a fee. An individual receiving the money are not charged a fee either. However, business who receive payment through Money Messenger are charged a fee to accept the money. The person sending the money from their Discover Card account does not need a PayPal account. Those holding Business, Corporate and Titanium cards cannot use Money Messenger at this time.
Wednesday, April 13, 2011
American Express Invests in PayFone, Powers Mobile Payments Plan | Fast Company
Amex suggests that with Serve and Payfone you'd be able to link your cell number to a variety of credit and debit card accounts, and then pay swiftly and securely at the checkout in stores.
If that sounds familiar, then it should--it's almost the exact same process needed for wireless NFC credit card payments, a system we expect to see exploding over cell phones and smartphones from about now onwards. And that reveals Amex's plans for all to see: This investment is a precursor to enabling NFC payments from phones in stores.
And since location data is securely included in Payfone's protocol, it could also enable a secure way for NFC phone owners to transfer money between themselves merely by putting their phones together--Payfone would do all the fund verification, work out the phones are co-located, and Amex's Serve would handle the transaction. More than this, the investment in Payfone has a slightly tactical flavor because Amex could have invested instead in technology that didn't use cell phone network infrastructure...and hence it's a sign Amex knows it needs the networks on its side if it's to be a player in the upcoming market.
Friday, March 25, 2011
Can Banks and Credit Card Issuers Outflank Groupon with Merchant-Funded Rewards? (NetBanker)
Groupon may be the biggest company in history that everyone thinks they could have built. Facebook, I guess, is up there too.
It seems everyone is wondering how they could do the "Groupon of (fill in the blank)". In my world, the blank is "banking." I already wrote about the potential for selling financial products through Groupon and other flash marketing sites last July, so I won't repeat that part. Anyway, that's Groupon 1.0.
It's Groupon 2.0 that I think is even more interesting for financial institutions. The new model, coming in a few weeks, is all about mobile deals.
The company is said to be planning on adding two buttons to your smartphone:
I'm hungry...which will alert you to nearby Groupons you can use for food deals.
I'm bored...which will alert you to just about anything else Groupon sells.
It's brilliant. And so simple. Again, everyone will wish they'd built it.
___________________________________________
Banking Opportunities
________________________________________________So how could you do the same thing in personal finance? What would those buttons be?
- I'm broke....leads to ATM finder, cash-back location, credit card site, loan app, friends & family loans, P2P lender, etc.
- I've just been paid...leads to ATM finder, branch locations,
deposit accounts, billpay, investments, automated savings plans, etc.- I'm out of town...leads to ATM finder, FX locations, travel services,
resource locator, notifies card issuers, security preferences, etc.But those are all pretty much standard functions of online/mobile banking today. The bigger opportunity may be to beat Groupon at the local level, with merchant-funded rewards tied to debit/credit cards (see note 1). Banks could potentially use the same "hungry/bored buttons" and direct customers to cash-back deals at restaurants and other merchants making offers to your cardholders.
Bottom line: Location-based rewards is another example of why mobile banking will be more important than online banking. To put it simply:
Banks enable commerce.
Mobile enables location-based commerce.
So financial institutions are right in the middle of a multi-billion dollar shift in retail spending. Enjoy all the opportunities!
-------------------------------------------------
Notes:
1. For more on merchant-funded rewards, see the latest Online Banking Report.
2. Picture credit: All Things Digital
