The Asian Banker

M-commerce, P2P payments and dynamic personalisation key issues for mobile banking in 2013
Citibank India enabled NFC mobile payments in 2009 and is now banking on m-commerce and P2P payments, while Bank of East Asia believes dynamic personalisation is the next big thing.

Jan 22, 2013 | Research

When Citibank India piloted a mobile payments project in Bengaluru, India back in 2009, it set out to validate the commercial, operational and technical viability of leveraging near field communication (NFC) technology for mobile proximity payments. The project was envisioned and developed by Citi Global Growth Ventures in collaboration with Citibank India. Citibank India partnered with mobile phone operator, Vodafone, handset maker Nokia, technology provider ViVOtech and MasterCard. Though this pilot did not extend to other cities, a few key important lessons were drawn from it:

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Categories: Innovation, Mobile Banking, Retail Banking, Retail Payments, Technology & Operations
Keywords: NFC, RBI, P2P, Vodafone, MasterCard, Cash-to-mobile, Citibank, Bank of East Asia, Vincent Hui, Sridhar Iyer
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