Tag: Financials

Barclays launches mobile banking service in India

Posted by | Mar 5, 2008 | |

UK bank Barclays has launched a mobile banking service in India that enables customers to transfer funds, pay bills and make account enquiries using their handsets.

The new m-banking service – called Hello Money – will cost customers Rs30 a month.

Customers signed up to the service dial a number before entering a PIN and choosing the option they want from a Hindi or English menu.

Hello Money is available through all GSM handsets on the Airtel, Vodafone and Idea networks in 40 Indian cities. The bank is looking to extend the service to CDMA handsets in the future.

Barclays says the system – which is based on ‘unstructured supplementary service data’ (USSD) technology – is easier to use than SMS and GPRS mobile banking services, which often involve several steps such as application downloads and can be costly as customers are charged for SMS or GPRS subscription every time they use the service.

The bank says its new m-bankig system can bring financial services to India’s 184 million unbanked population.

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MoneyGram Offers Services in 2,800 Advance America Locations

Posted by | Mar 5, 2008 | |

MoneyGram International, Inc., announced today the completion of the rollout of three new services in over 2,800 Advance America locations across the United States. The addition of MoneyGram’s money transfer, money order and ExpressPayment bill payment services broadens the range of financial services available at Advance America.

“The addition of Advance America’s 2,800 locations to our network makes MoneyGram services more convenient in many neighborhoods and communities and gives them more choices for their money transfer, bill payment and money order services,” said Dan O’Malley, senior vice president and president of the Americas for MoneyGram. “We believe MoneyGram gives them the right choice for value.”

“The MoneyGram products complement our product diversification strategy,” said Ken Compton, chief executive officer at Advance America. “We are always looking for ways to better meet the needs of our customers, and MoneyGram will help us do that.”

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Wall Street’s mobile teams begin on-site disbursement of workers’ salaries

Posted by | Mar 4, 2008 | |

The service, which comes with no extra charge to the workers, is available to companies that have signed agreements with Emirates Post to have their workers’ salaries paid out through mobile teams of Wall Street Exchange.

The Wall Street teams visit designated venues, usually workers’ accommodation sites, on fixed days to disburse the salaries, using laptops and GPRS to enable workers to transfer money to their home countries through Wall Street’s large network of correspondent banks across the globe, including South Asia, for a competitive fee.

The worker can either transfer money to a beneficiary bank account or send cash within minutes using other available money transfer channels, including Instant Cash and Western Union.

Abdul Basit Al Suwaidi, CEO – UAE, Wall Street Exchange said:

“Wall Street is among the first companies to offer this value addition of salary disbursal at the doorstep of workers. We have signed agreements with several companies, involving thousands of workers. The first experience of distributing salaries through our mobile teams was completed in February with a success rate of 99.9%. The response from the companies and the workers has been overwhelming.”

Companies signing agreements with Emirates Post for enabling the salary payout of workers enjoy several benefits and advantages, including convenient locations, extended timings, timely payment and, most importantly, the facility of transferring money without going through the trouble of visiting an exchange company.

The Wall Street mobile team service is available to companies with over 500 workers.

In the case of companies with less than 500 workers, they will have to collect their salary from designated post offices.

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Poczta Polska is banking on mobile phone services

Posted by | Mar 3, 2008 | |

Bank Pocztowy, a subsidiary of national postal service Poczta Polska is working extensively developing mobile banking for its customers despite its service already being available in almost every post office across the country.

A client would be able to manage his account via the mobile phone, making transfers and verifying account balances, but also making small payments like for parking. “We cannot reveal detailed solutions, but these will be services totally new on the Polish market,” said Piotr Kamiñski, president of Bank Pocztowy. A detailed offer will be provided later this year and according to the president, in this case, time plays the key role. “If we do not introduce a service this year, than next year it will be too late, as the competition will be ahead of us,” said the bank’s president. Bank Pocztowy, which so far has been chasing the leaders, believes that a strong entrance into mobile banking will enable it to catch up and take over competitors to become a mid-size, easily accessible institution, offering services to 1 million clients.

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Post Office UK: New registration plates fail to impress UK drivers

Posted by | Feb 29, 2008 | |

As new car registration plates hit the forecourts this weekend, thousands of drivers across the UK are expected to flock to car garages to upgrade their wheels.

However, research from Post Office Car Insurance reveals that 1 in 4 people in the UK still find the current car number plate system confusing, 7 years after it was introduced, 1 while many see little point in paying a premium for 08 plates.

New number plates used to be considered as much of a status symbol as the house you lived in, but Post Office Car Insurance’s research reveals attitudes have changed, with 51 per cent of people claiming to have no interest in them.

When it comes to taking out car insurance, the research showed UK drivers to be particularly savvy, with more than half (59 per cent) saying they would shop around first before taking out car insurance with their car dealer.

The Post Office is currently offering customers a £50 cash back bonus when they take out a new car insurance policy.

Post Office Car Insurance includes:
• Free courtesy car
• 24 hour claims helpline
• 3-year guarantee on repairs
• Free windscreen repair service
• New replacement car if theirs is stolen or damaged beyond repair and under 12 months old
• In the event of a write off, market value will be given for the car
• Cover for driving in the EU for up to 60 days
• RAC breakdown cover (extra cover option)
• Motor Legal Protection (extra cover option)

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