Gains in mobile banking

Mobile banking and payments are gathering steam in the U.S., but the space is also drawing significant interest abroad. Within recent weeks, a series of international companies have made banking-related announcements, including:
— Royal Bank of Scotland Group, which offers banking services in Europe, the U.S., the United Kingdom and Asia Pacific, announced that in September it will begin offering mobile banking services to its 13 million customers with debit cards. Users will be able to check their account balances and view mini-statements on their handsets, top up any prepay phone balance and receive SMS balance alerts. RBS plans to add the ability to make mobile payments and move money between accounts. RBS said the software is free and there is no monthly or annual fee for the service, so the only related charge for usage is the data access fee from network operators.
— Commercial Bank of Dubai launched new mobile banking services, with an eye to providing comprehensive financial services via mobile. Customers can track bank account details and access records of recent transactions from their mobile phones, and “carry out all types of payment transactions instantly,” according to the bank, including paying utility and water bills as well as mobile phone, landline and Internet bills. The CBD uses an SMS-based system.
— Amdocs and Spanish bank Bankinter S.P. launched a service to enable financial institutions to offer mobile banking. The Amdocs Mobile Banking Solution allows customers to access and manage their bank account information, receive alerts and respond to targeted sales offers, according to the two companies. Banks could allow customers to access information through text messages, the mobile Web, or smartphone services.
— In Sri Lanka, Dialog Telekom and NDB Bank laid claim to the title of South Asia’s first mobile commerce initiative with a service called eZ Pay, which uses Dialog’s GSM network. Users can buy an eZ Pay-enabled SIM card from Dialog (existing customers can upgrade for free) and must also have a prepaid card account with NDB Bank, transforming their phones into a mobile wallet that can be used at merchants who accept eZ Pay payments. Cash deposits and withdrawals are also available, and the ability to transfer money to and from family members should be added soon, according to the two companies. Through the prepaid Visa debit card, customers also will gain access to Visa ATMs and merchants who accept the card.