mobile banking

  • Indian Mobile Bank Eko Raises $5.5 Million, Processing $270 Million in Payments a Year

    Indian Mobile Bank Eko Raises $5.5 Million, Processing $270 Million in Payments a Year

    Innovative mobile banking platform Eko India Financial Services has raised $5.5 million from Creation Investments’ Social Venture fund, Promus Equity Partners and several unnamed angel investors. Mobile banking is one of the most exciting trends in the tech world outside Silicon Valley. And now that more people have mobile phones than toilets in the world, there’s a real chance… Read More

  • Bill Gates wants to help the third world with cellphone banking

    The GSMA, a worldwide consortium of mobile industries, and the Bill & Melinda Gates Foundation (owned by the guy who used to run Microsoft and his lady wife) have teamed up to found the the Mobile Money for the Unbanked (MMU) initiative, allowing folks in developing countries to carry out mobile banking from their non-smartphones and keep and grow their money in a safe and affordable… Read More

  • Young 'uns getting in on the mobile banking thing, oldsters opting out

    One out of five 18-35-year-olds has used their cell phone for a banking transaction – twice as many as the general population, according to a study done for IBM. Now, I’ve moved almost exclusively to online banking, but my balance transfers aren’t pressing enough that I need to do them from the middle of the street. Most people are afraid of losing personal information, but… Read More

  • Western Union building mobile payment service

    Soon, you’ll be able to get money on your mobile phone no matter where your location. The GSM Association is working with Western Union to develop a cross-border money-transfer service that would work in any country with a GSM network. Together, the two companies are building the technology that would allow customers to transfer funs with their mobile phones. Come Q2 of next year, you… Read More