Global Payments Asia-Pacific Limited, a joint venture between HSBC and U.S.-based Global Payments Inc. (NYSE:GPN) , has introduced a secure GPRS-powered mobile payment service called Global MobilePay(TM) that provides mobile card acceptance capabilities for merchants in the Asia-Pacific region. Global Payments is one of the first payment processors to launch an extensive mobile payment solution for merchants across Asia. This service is now available in Brunei, China, India, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan.
Global MobilePay is a sophisticated card acceptance solution that uses GPRS wireless communication network for merchants that need to accept card payments beyond fixed locations or when traditional land line communication does not meet business needs. Merchants can now conduct face-to-face transactions anytime and anywhere. Through Global MobilePay, Global Payments now provides a comprehensive package that includes a mobile payment terminal, SIM card and GPRS network connectivity through a telecommunications partner, as well as payment processing services.
This new offering from Global Payments is ideal for merchants who need to accept card payments away from a retail countertop, such as cash-based delivery service providers or trade show exhibitors. With Global MobilePay, mobile merchants can now accept electronic payments to improve customer service and reduce the cost of handling cash significantly. For merchants in hospitality industries, Global MobilePay can help enhance customer payment experience. Hotels can use this payment solution to offer in-room check in and check out services, while restaurants can provide payment at table services to bring more convenience to patrons.
Showing posts with label payments. Show all posts
Showing posts with label payments. Show all posts
Friday, 19 September 2008
Monday, 15 September 2008
Consolidation into Single Transactions Underway Found By Misys
Consolidation of payments, cash and trade into a single transaction banking function is well underway as banks focus on growing their transaction banking businesses, but the delivery of a joined-up service is not there yet, according to research published today by Misys (FTSE: MSY.L).
The results of the research, undertaken by Misys and Finextra Research; the respected information source for the financial technology community, outlines the key challenges and actions being taken by banks to address this area.
IT complexity is seen as the biggest obstacle to transaction banking plans ahead of "domination of global banks", cited by 55% and 40% of respondents respectively. At the top of the list of technical problems that banks say their customers want them to solve are greater integration with corporate systems and delivery of cross-border, multi-currency cash pooling services.
The research found that a majority (57%) have already taken steps to restructure their organisations, bringing together trade services, cash management and payments services as a single offering. A further 19% have plans in place for specific transaction banking units within the next 12 months.
Despite these changes, 45% of respondents -- including half of those who have already restructured -- believe existing customers rate their services as no better than average, suggesting either that the new structures have yet to bed in or that other difficulties prevent them from reaching their potential.
"The research backs up what we have found from our own customers, comments Guy Warren, EVP and General Manager, Misys Banking. "In the current downturn in the financial industry, banks are searching for value-added banking services, which involve low capital usage but promise stable earnings and return on equity. There is a huge shift towards providing new and improved transaction banking services delivered online, so that they can both defend existing corporate business and win new customers. There is a fantastic opportunity for fast moving banks to create credible alternatives to the services offered by global competitors in their multinational heartland as well as going after the smaller corporates and SMEs who tend to operate under the radar of the global banks."
Adding new products and services to satisfy existing customers, and widening their appeal to the smaller customers are the top priorities for 39% and 33% of respondents, respectively. Offering new cash pooling offerings are particularly effective, with banks already seeing an average 14.4% increase in business as a result.
Although nearly half of banks in the survey said their overall 2009 IT budgets had been frozen, average spending on development of cash management systems and services is expected to increase by 8%. As the primary delivery platform for new services, the online channel is the main focus of IT spending. Cash forecasting, invoice and payment reconciliation and real-time payment tracking feature prominently in online investment plans of a third of respondents in the next 12 months.
Guy Warren adds: "Banks have either completed or are well on the way to completing the first stage in their transaction banking strategies. Stage two is about getting the delivery platform right, which is a matter of building viable online channels that feed smoothly into corporate systems. Only then can they deliver the integrated transaction banking services to satisfy both their customers' requirements and their own desire for growth."
The results of the research, undertaken by Misys and Finextra Research; the respected information source for the financial technology community, outlines the key challenges and actions being taken by banks to address this area.
IT complexity is seen as the biggest obstacle to transaction banking plans ahead of "domination of global banks", cited by 55% and 40% of respondents respectively. At the top of the list of technical problems that banks say their customers want them to solve are greater integration with corporate systems and delivery of cross-border, multi-currency cash pooling services.
The research found that a majority (57%) have already taken steps to restructure their organisations, bringing together trade services, cash management and payments services as a single offering. A further 19% have plans in place for specific transaction banking units within the next 12 months.
Despite these changes, 45% of respondents -- including half of those who have already restructured -- believe existing customers rate their services as no better than average, suggesting either that the new structures have yet to bed in or that other difficulties prevent them from reaching their potential.
"The research backs up what we have found from our own customers, comments Guy Warren, EVP and General Manager, Misys Banking. "In the current downturn in the financial industry, banks are searching for value-added banking services, which involve low capital usage but promise stable earnings and return on equity. There is a huge shift towards providing new and improved transaction banking services delivered online, so that they can both defend existing corporate business and win new customers. There is a fantastic opportunity for fast moving banks to create credible alternatives to the services offered by global competitors in their multinational heartland as well as going after the smaller corporates and SMEs who tend to operate under the radar of the global banks."
Adding new products and services to satisfy existing customers, and widening their appeal to the smaller customers are the top priorities for 39% and 33% of respondents, respectively. Offering new cash pooling offerings are particularly effective, with banks already seeing an average 14.4% increase in business as a result.
Although nearly half of banks in the survey said their overall 2009 IT budgets had been frozen, average spending on development of cash management systems and services is expected to increase by 8%. As the primary delivery platform for new services, the online channel is the main focus of IT spending. Cash forecasting, invoice and payment reconciliation and real-time payment tracking feature prominently in online investment plans of a third of respondents in the next 12 months.
Guy Warren adds: "Banks have either completed or are well on the way to completing the first stage in their transaction banking strategies. Stage two is about getting the delivery platform right, which is a matter of building viable online channels that feed smoothly into corporate systems. Only then can they deliver the integrated transaction banking services to satisfy both their customers' requirements and their own desire for growth."
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