Category: Mobile Financial Services
AI The Epicenter of eCommerce
In our todays online shopping how much is artificial intelligence. How artificial intelligence can help retailers to deliver the highly personalized experiences shoppers desire. Ant colony optimization algorithm (To formulate training feed-forward neural networks with ant colony optimization) to obtain the users’ preference information are widely used in todays ecommerce business for comparison-shopping to solve the problem of the user bias’ filtering and learning. The performance improvements are important to both consumers / buyer and sellers / merchants.
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Magic Word Pay in Digital Payments
Today’s consumer expects a seamless mobile payment experience; failing to meet those expectations can be devastating to a brand, idea, innovation and eventually the payments industry. The world’s best companies; main from out side of payment / financial domain are rushing (yes rushing) for Digital Transformation for money. Getting inspired by the cutting-edge technologies, innovative products and solutions
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Remittances – Game Changer For Economic Development
If just for a minute we can assume every person on this planet has mobile phone, every mobile user has a bank account/wallet, every bank account is created instantly, virally and at no cost, No bank charges exist,
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2017 Year of AI & Digital Payments
To draw a rough sketch of exaggerated scenario of how these two technologies (AI & FinTech) may interact with us in the future and what warrants the, perhaps perplexing, 2 super powers. AI’s Control systems are widely used. They govern how a simple thermostat adapts to a target temperature.
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Mobile Financial Services – Intro to MFS Speed & Security
BaaS and BaaP are founded on the fundamental concepts of providing open banking services and APIs that are favorable for developers. One of the most significant issues regarding security in e-commerce is ensuring the employment of appropriate and trustworthy payment methods such as Internet banking, mobile payments, card payments, or instant payments.
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Financial Inclusion to Balance Gender Gap
Nigeria & South Africa is better in terms of women getting rights on what they deserve than DRC or Kenya different. This phenomena can be compared with almost all advertisement depicting a clock standing still in one place such as ten minutes past to ten as its most appealing to human minds. Giving best and large enough space for advertisements to be displayed clearly if forty minutes past four is chosen will also give the same scope but does not appeal well.
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Financial inclusion (Finclusion) – Need or Opportunity
Financial inclusion is a key enabler in reducing poverty & boosting prosperity and to get delivery of financial services at affordable costs to sections of low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Getting payment products to “understand” each other, or to be “interoperable,” is a big challenge to solve under financial inclusion model.
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Mobile Payments – Need, Opportunity or Myth
Mobile payments can be defined as any payment transactions, whether in close proximity or remote. Payments can happen through Internet, proximity technologies charge back or can be executed on mobile devices. Mobile payments market potential, as well as the different trends in business models and technologies that are shaping the global payments and mobile payments evolution are visible as opportunities to be taken up. Decision makers in banks and other financial or even out side traditional
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Mobile Banking Services
M-banking, also called mobile banking, enables individuals to perform financial transactions on their bank account utilizing a mobile device. Bank patrons with an authorized mobile device will be able to undertake primary transactions, including replenishing their mobile airtime, transferring funds, reviewing their account balances, settling outstanding debts, and making exclusive appeals.
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Mobile Money – Key Stakeholders
Technology is a friend/ helper not as tester or rocket science; MFS product use and accessibility needs to be simple for people to make them comfortable and pull out maximum benefits especially for unbanked who have not seen the real MFS. Study from google shows that globally, mobile money users transacted a total of USD 7.5 billion through 479.5 million transactions in the month of December 2014. If cash-ins and cash-outs are included, mobile money users performed 717.2 million transactions, total of USD 16.3 billion.
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Mobile Money vs Mobile Banking
Mobile Money and Mobile Banking are viewed under the same umbrella and are currently encapsulated in a financial world which is either too complicated or is viewed as complicated. Mobile money requires phone number as account number while Mobile banking requires bank account number as primary transaction identity. As far as Mobile Money and Mobile Banking are concerned
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Apple Pay: Was Innovation or Repetition
What has been transformed in the markets by existing and new companies is their emergence to capture available opportunities. While mobile money or FinTech’s banking often gets described as a money transfer product, the reality is much beyond that. This has a blend of big data, data science, AI, and machine learning built in.
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Financial Services – Payment Environments
“Open Loop Payment System” is an ecosystem where multiple parties are involved in every transaction. For example: Banks as issuers deal with consumers; brands are the cards: Master, VISA, American Express, etc.; processors are intermediaries who process transactions; ..
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Mobile Financial Services – Powerful Tool for mCommerce
With the advancement in technology like artificial intelligence, quantum computing, blockchain, etc. organizations outside the banking industry are diversifying and demystifying financial services. Targeting small & succinct margins in the space they are making a lot. These were organizations servicing millions of customers through broad distribution channels, be they, mobile operators, mobile handset manufacturers, retailers, or online merchants.
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The Mobile Money Revolution – NFC Mobile Payments
The main drivers behind the success of mobile money are the explosive growth in the number of mobile devices and the fall in the cost of computing power, which has lowered the barriers to new entrants in this field. Mobile money (m-money) is quite versatile and can support a variety of services, in particular, person to person (P2P) money transfers, which are of significant value for emerging economies. The other key driver for this is the inaccessibility of banking services to the general populace mainly due to ..
