...Wireless Payment – Wallet Share Introduction George would do anything to get rid of his wallet. It is heavy and creates an ugly bulge in his pocket. George has been to Japan where he saw locals using phones to seamlessly pay for everything including tolls, fares, groceries, and other expenses. So when Google announced their new Nexus 4 phone with the ability to touch and pay, George got really excited. George was one of the first people to get a mobile payment enabled Google Nexus phone and promised himself that he would never pick up his wallet again. What’s more, Google even showcased a new vending machine, in San Francisco, where George purchased a Coke using his new Nexus phone. George was on top of the world and very excited. He actively started looking for the universal mobile payment symbol at retailers so that he could plan his wallet-free shopping. Unfortunately even after owning his phone for a whole year, George is still carrying his wallet. Mobile payments are a subset of a larger electronic payments ecosystem, where payments are initiated using a mobile device. The history of mobile payments dates back to 1997, when Coke introduced the first touchless vending machines based on Simple Messaging Service (SMS) payments. Initially the system was used for simple tasks like downloading ring tones and buying movie tickets; payments were billed directly to the customer’s mobile account. The big push came from Asian countries like Japan and the Philippines...
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...Mobile Wallets Alternative to savings accounts ? September 2012 Mobile phones can do almost anything these days "I'm amazed at all the cool stuff I can do with my new phone. Yesterday I sent a photo to my mom, bought some music, watched a movie, trimmed my sideburns and neutered my cat!" Mobile Wallets FINAL.pptx 1 How many of you have received SMS alerts from your bank on your phone? How many of you have a smart feature phone? How many of you have a mobile banking application installed on your phone? How many on you are aware of USSD based mobile services? How many of you have transferred money using mobile banking? Mobile Wallets FINAL.pptx 2 Huge untapped potential for MFS in India Fundamental drivers for adoption of mobile payments in place Transactions on mobile channel remain small '000 cr % of HHs earning > INR 1.5 lac pa % of popln b/w 20-50 yrs of age 150.1 7,100 7,077.5 1 % 54 44 72 46 % 100 0 100 Younger 50 Richer Demographic 0 FY 12 2 High Mobile Penetration # / 100 200 100 0 201 202 2 0 119 150 83 # of subscribers per 100 pop 201 202 2 0 100 83.4 3 Prevalence of Paper Payments % of txns 100 50 0 46 54 50 83 17 e-payments paper payments 1.8 0 NEF T POS (credit & debit) ECS (Debit) Mobile Source: RBI Data, Euromonitor , EIU, BCG Payments Model Mobile Wallets FINAL.pptx 201 202 2 0 3 One reason : lack of consumer awareness Penetration far lower than other payment...
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... The Age of the Mobile Wallet A Paper Submitted in Partial Fulfillment of the Requirements for BUS500F: Business Marketing College of Business and Public Management Department of Marketing September 2015 Trend Identification: Today's digital technology is constantly evolving. A significant and popular financial trend that has taken over society is the use of Mobile Wallets. This technology allows you to pay for a product or service, using an application from your mobile phone at a Near Field Communication (NFC) reader. When the phone is held to the NFC, it will vibrate or beep to confirm payment. Customers have no need to carry cash, checks, or credit cards when there are apps such as Apple Pay that link directly to your bank account. Sounds easy enough, right? Many concerns from consumers and producers will arise from this Mobile Wallet. The most important being identity and financial fraud. I believe this new technology will affect all aspects of the market from production, to the final product, and certainly consumers. The way we pay for products and services has changed, leaving a decline in the need for physical currency. Will hard cash become obsolete? Or is this revolutionary trend just another fad? [pic][pic] According to Trendwatching.com, "Apple Pay saw 1 million cards registered in its first three days after launch. And by 2017, there are forecasted to be 450 million mobile payment users, up from...
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...bitcoin work? Bitcoin is a peer-to-peer network, a set of protocols (standards for interoperability), client interfaces (called wallets) and a currency that operates on top of all of those technologies. The bitcoin system allows any person to send or receive a fraction of a bitcoin (the currency unit) to another person, anywhere in the world. The bitcoin system operates on the Internet without the need for banks or bank accounts and allows people to send money like they send email. To start using bitcoin, you need a bitcoin client, or "wallet" application. The bitcoin client allows you to use the bitcoin network, just like a web browser allows you to use the web. There are many different types and makers of bitcoin wallets, for desktop and mobile operating systems and also available as web applications. To receive bitcoin, you need a bitcoin "address", which is a bit like an email address or bank account number. If someone knows your bitcoin address, they can send you money, but cannot do anything more, not even identify who you are or where you are. Therefore, you can freely share your bitcoin addresses with anyone without fear or security risk. Once you have a "wallet," it can create any number of bitcoin addresses for you, even one per transaction. Give those addresses to anyone you want to send you bitcoin. Tip: bitcoin addresses are created by your wallet and do not need to be registered with anyone, or linked to your identity or email address. They can be used immediately to...
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...globally. Finally, your thoughts, comments, trading advice, and content have monetized value! How it Works: MTR will initially premiere on the Social Media Platform ToshiDesk™, where MTR will be utilized as an incentive based digital currency. MTR will connect Advanced Level Crypto- traders who provide qualitative data, insight, and analysis within the FinTech industry to Novice & Intermediate enthusiast seeking an in-depth real-time perspective of the world of Digital Currencies. Main Focal Points of MTR: The platform ToshiDesk™ will have integrated web wallets attached to each account. Master (Content Provider) and Trader (Subscriber), have convenient & secure access to funds with instant confirmations within MTR’s blockchain. Each ToshiDesk™ user will have a generated wallet address linked to each account to deposit and withdrawal MTR funds from. Users load their wallets with the provided generated web wallet address. Users will be able to use funds for generously tipping members on multiple platforms. ToshiDesk links data analysis & insider knowledge to the rest of the world. MTR’s Value: MTR will be integrated with core components that support the fundamental values of decentralization. ToshiDesk™...
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...have to be resourceful to be successful. Some turn to helping non-profits to raise awareness of their products... ...Big Skinny, on the other hand, went at it in a BIG way, erecting a 21 foot by 10 foot wallet right in Harvard Square, Cambridge, MA. Guinness World Records quickly crowned it the World's Largest Wallet. Several not-for-profits benefitted from this unique fund-raising vehicle to remind holiday shoppers to help the poor and others in need. Day after day, representatives of these groups told about their worthy causes and collected donations. Each group had its own pocket in the giant wallet. "Our hope is that the big crimson wallet urges folks to open their wallets to help address the needs of the underserved community," says Alexandrov, who also arranged for the Big Skinny website to stream live videos from historic Harvard Square of all those who participated. Those groups served include the Jose Mateo Dance Theatre, Salvation Army, Pediatric Aids Treatment Solutions, Harvard Square Homeless Shelter, Old Cambridge Baptist Church, Solutions at Work, Earthen Vessels, Molecular Frontiers, Cycle Kids, Cambridge Arts Council and Medulla Thyroid Cancer Research at John Hopkins. The Big Skinny Wallet, conceived by Alexandrov, solves the top five wallet problems. It is made of ultra-thin nylon micro-fiber and its unique design results in a 50 percent reduction in size. www.macedonian.org Entrepreneur Holiday Gift Ideas Under $50 by Margie Zable Fisher December...
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...reliable. More than 70% of the population of Bangladesh lives in rural areas where access to formal financial services is difficult. Yet these are the people who are in most need of such services, either for receiving funds from loved ones in distant locations, or to access financial tools to improve their economic condition. Less than 15% of Bangladeshis are connected to the formal banking system whereas over 68% have mobile phones. These phones are not merely devices for talking, but can be used for more useful and sophisticated processing tasks. bKash was conceived primarily to utilize these mobile devices and the omnipresent telecom networks to extend financial services in a secure manner to the under-served remote population of Bangladesh. Mission By providing financial services that are convenient, affordable and reliable, bKash aims to widen the net of financial inclusion. bKash wants to provide a solution for Mobile Financial Services, built on a highly scalable Mobile Money platform, allowing the people of Bangladesh to safely send and receive money via mobile devices. Benefit Fast bKash is dedicated to widening the net of financial inclusion among the people of Bangladesh by facilitating money transfer through...
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...A digital wallet is an electronic device that allows an individual to make electronic commerce transactions, which means that with a digital wallet, consumers can purchase products in a store or on-line with their mobile devices. Digital wallets are being made not just for basic financial transactions; it can also contain holder’s identification and all the information about coupons, discounts and credits awarded by merchants. In the future, a digital-wallet could potentially verify the age of the buyer to the store while purchasing alcohol. | Digital wallets are expected to be big business. By 2014, the market will reach a massive $245 billion. The shift is coming rapidly, as payment methods are moving away from credit cards, debit cards and cash to smartphones, tablets and other mobile devices.There are a lot of concerns rising about digital wallets lately. Many argue that digital wallets will never succeed due to its privacy and security problems. Here are the answers to some of the concerns raised by consumers and those answers will show that digital wallet is a market trend and have its potential to be a huge success. | Concerns are heightened when considering the complexity of a digital-wallet transaction, especially compared to the simplicity of cash or straight credit. In the case of a smartphone, the data passes through not only the smartphone's hardware and operating system but also through a specific payment app, and finally, the source of the payment, such as your...
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...USS Alabama Battleship Memorial Park, home to the USS Alabama, has been opened since January of 1965. It was created to represent and honor all of Alabama’s Veterans in all branches, including: Navy, Army, Air Force, Marines, Coast Guard, and Merchant Marine. Originally in Bremerton, Washington, Henri Aldridge and Stephens Croom helped bring the USS Alabama home to Mobile. People all over Alabama and the Southeast travel to the Battleship Memorial Park to experience life on the ship and learn about the USS Alabama’s role during World War II. The USS Alabama is like no other ship I’ve ever seen before. With a length of 680 feet and a width of over 108 feet, the USS Alabama was able to take down twenty-two enemy airplanes, with the...
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...Mobile Financial Service Solution Online Payment services Gifting Emotions Contents 1. Introduction to Mobilink and Mobicash ........................................................................................... 3 2. Online payment solution ................................................................................................................... 5 2.1 Mobile wallet based online payment solution-Gifting Emotions...................................................... 5 2.1.1 Via mobile wallet .............................................................................................................................. 5 2.1.2 Over the counter payments (OTC) .................................................................................................... 6 2.1.3 Credit/Debit Card payments.............................................................................................................. 7 2.2 Escrow Payments .............................................................................................................................. 8 3. Payment Gateway features ................................................................................................................ 9 3.1 Customer portal ................................................................................................................................. 9 3.2 Merchant portal ..................................................................
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...Introducing… Google Wallet A FAST WAY TO PAY BUSINESS INSIDER Last updated Thursday, May 26, 2011 SUMMARY This article talks about the introduction of GOOGLE WALLET which is a new app for smart phones. Generally, it is considered as a substitution of all kinds of credit cards. It is very simple and secure to use. Anyone who wants to take advantage of this Google wallet has to simply enter already chosen pin card in order to active the app. Then, tap the phone to pay and redeem. In short, Google wallet is an android app which stores virtual versions of all existing plastic credit cards on phone. There will also be offering of Google prepaid master cards which can be re charge with funds from another card or bank account using an online interface. Google Wallet has been designed for an open commerce ecosystem. It will eventually hold many if not all of the cards you keep in your leather wallet today. And because Google Wallet is a mobile app, it will be able to do more than a regular wallet such as storing thousands of payment cards and Google Offers including loyalty cards, gift cards, receipts, boarding passes, tickets and the keys. Most importantly, every offer and loyalty point will be redeemed automatically with a single tap via near field communications or NFC and it will be expanded in future. RELATIONSHIP WITH MARKETING This article is relevant for marketing professionals because it has information of changing Technology day by day in the world. The way this...
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...A mobile banking app purpose is to give consumers the convenience to control their money on the go. You are able to do more banking on the go and not have to worry about making time to go to the actual bank. When you register and log in you can opt to use a PIN at the first login instead of putting the full password in. You can even do appointment setting and either have live appointment or call-backs. It gives consumers more ways to access accounts, provides good security, offers no fees and has easy access. You are able to transfer money from one account to another account without having to go to the bank or be on a computer. It allows you to keep track of all transactions and monitor availability of deposited funds. You are also able to pay bills. One can simply set up text alerts which also allows you to see what you have in your account or when your account is getting low. Another alert is for debit and/or credit card purchases that exceed a set amount. Some offer virtual wallet, so you can see how and where your money is being spent and also offers a savings engine that allows you to set aside money. They also added a feature to where you can take a picture of a check and deposit it that way. The only thing the app cannot do is get cash out but it will help you locate the nearest ATM. With self-service, your able to do a change of address, I lost my card, and what is the routing number. They offer photo bill pay, which is starting to gain momentum with people. You are...
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...their own terms. In simple words if customers want to look at the product online, by on their phone and return it by dropping at the store, they would be able to do so in smooth and seamless way. Oasis a fashion retailer from UK has currently implemented this kind of system. 2. The mobile wallet The credit card and debit card won’t be out of use any time soon. But use of mobile internet is increasing day by day. With 3G-4G services emerging at an accelerated pace “mobile wallet” is going to get a huge chunk of payment market. As people tend to carry as less thing with them as possible the mobile wallet will be the one replacing the different payment method people uses at the retail stores(both online & offline). Google wallet, Paypal is few of the service which provides the mobile wallet. 3. More personalized in store experience Retailers will be implementing the solutions to create more personalized in store experience. Ecommerce sites has been doing this for years by tailored landing pages, retailers will also be bringing more and more technologies in the store to address to each and every customer in any place in store. Technologies like iBeacon, Estimote, In-store mobile devices will allow the stores to create an experience which will be both interactive and engaging. 4. Reinvention of loyalty programs Retailers will be working on their loyalty programs to retain more and more customers. The loyalty cards are on their way out and will be replaced...
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...AGRICULTURAL FINANCE STAGE II Submission In the partial fulfillment of AF Project to Prof. Vaibhav Bhamoriya Future of Payment Services in Rural Areas Submitted By Group 5 Amrita Dokania, Anjali Neha Lakra, Ashish Negi, Bhawna Nirmal, Veeru Kumar Prajapati INDIAN INSTITUTE OF MANAGEMENT, AHMEDABAD Introduction Payments are indispensable parts of our daily transactions, be it B2B, B2C or C2C, and be it rural areas or urban areas. Payment system of a country should be “safe, secure, efficient and accessible” owing to its vital role in raising the GDP of a nation. Payments being one of the most important parts of the financial system, different channels that accelerate the process efficiently constitute the focus of the system. Banking industry has witnessed a tremendous growth in the last few decades in terms of volume and the complexities in the banking system. Even if banks have made significant improvements in the recent years for achieving financial viability and profitability there have been concerns regarding reach and serving a huge population of interior areas. There has been a skewed distribution of population i.e. 6000 per bank branch in urban and 24000 in the rural areas. India has approximately 6.4 lakh villages out of which 5 lakh villages are still unbanked because of the operational and structural issues for example viability, long distance, costs etc. Although rural India comprises of 68% of population, it constitutes only 9% of total...
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...Mobile Banking in Bangladesh g GOVT. TOLARAM COLLEGE 2015 A Study On “Mobile Banking System in Bangladesh” Prepared By Sheikh Shamcur Rahman (Tusher) Bachelor of Business Administration Faculty of Business & Economics Daffodil International University E-Mail: tusherdiu@yahoo.com Web: www.purnotabd.weebly.com www.daffodilvarsity.edu.bd Acknowledgemt Acknowledgement First of all, I want have directly to give all the praise to almighty Allah. I am indebted to them who helped us in conducting of the report. Specially, I am grateful to my supervisor Nazmun Nahar madame who , assigned me to prepare the term paper on health sector analysis of Bangladesh. Finally , I would like to express thanks to my cordial supervisor and my classmates. I am also grateful to the authority and other students of economics department and other various sources for collecting the valuable information. Mohammad Kabir Hossain Roll No: 9572525 Regi No: 1612908 Table of content Tropic | Page No | Acknowledgement | 02 | Table of content | 03 | Introduction part | Executive Summary of the Report | 04 | Objective of the report | 05 | Methodology of the Report | 05 | Literature Review | 07 | Introduction of the Report | 08 | Analysis Part | Mobile Banking Background | 11 | Challenges for a Mobile Banking Solution | 14 | History of Mobile Banking...
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