MasterCard has made an investment in and is also teaming up with mobile banking provider mFoundry, giving more consumers access to mobile payments and helping banks bring their own digital wallet solutions to market.
By Kiran Kalmadi and Raghavendra Shenoy, Infosys | November 29, 2011
To harness its full potential, banks must look at mobile banking as a channel in and of itself rather than as an extension of online banking, according to InfoSys's Kiran Kalmadi and Raghavendra Shenoy.
Despite their promises of greater efficiency and enhanced customer service, payments hubs have not gained much traction in the past decade. But as the economy recovers, and as banks realize their compliance value, investments in payments hubs are likely to pick up.
Following Visa's push for the adoption of EMV in the U.S., bankers are debating whether the standard will emerge from the mix of innovations in the payment space as the next widely adopted domestic payment solution.