FNB integrates mobile banking with Facebook
"FNB today announced that its customers can now buy FNB Vouchers using Cellphone Banking and send to friends on Facebook. FNB Vouchers on Facebook is another first by a bank in South Africa. FNB Vouchers are targeted at Facebook users in South Africa. This innovative product enables FNB customers registered for Cellphone Banking to send gifts to their Facebook friends — the recipient of the FNB Voucher can redeem it as Prepaid Airtime or convert it to cash by using the bank’s eWallet service."
Reaching the Poor: Mobile Banking and Financial Inclusion
"In a recent Slate article, Jamie Zimmerman and Sascha Meinrath lament the exclusion of the poor from Kenya’s much-touted expansion of mobile money, exemplified by the growth of M-PESA. Citing our early empirical analysis of the adoption of M-PESA, the authors correctly note that in 2008, many of the poor did not use the service. Zimmerman and Meinrath infer from this pattern of adoption that poor households are made worse off by M-PESA’s success."
Mobile banking’s Sh1.5tr boost to formal economy
"Mobile banking has succeeded in bringing about Sh1.5 trillion into the formal economy, indicating the potential of mobile phone-based financial transactions to bridge the gap left by the mainstream banking system. Tanzania has about Sh2.3 trillion in circulation at any given time, the formal banking and financial system holds about Sh13 trillion, but experts say most of the liquidity is in the informal circulation."
Mobile Banking in Australia
"M-banking involves conducting account balance and transaction history inquiries, fundstransfers, billpayments, stocktrades, portfolio management, as well as insurance ordering, via a mobile device."