Stock News 2011: Mobile payment innovation recognized at MWC

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Airtel Africa, Standard Chartered Bank and MasterCard Worldwide were honored for mobile payment innovation at the 16th Annual Global Mobile Awards held during the Mobile World Congress (MWC) 2011 in Barcelona, Spain.

The recently launched virtual card product, developed in collaboration among airtel Africa, Standard Chartered and MasterCard, received top honors as the Best Mobile Money Product or Solution.

Honored by a panel of mobile industry experts, the virtual card product was recognized as an innovative mobile payment solution that will offer consumers in Kenya, and eventually across Africa, greater participation in the financial system through mobile commerce.

In collaboration between airtel Africa and Standard Chartered, the virtual card product is powered by MasterCard inControl technology and enables more people to connect to the global marketplace through their mobile phones.

Andre Beyers, airtel Africa’s chief marketing officer, and Daniel Monehin, area head for East and West Africa and Indian Ocean Islands of MasterCard Worldwide, received the award on behalf of the three companies at the Global Mobile Awards 2011 ceremony held at the Fira de Barcelona.

http://www.philstar.com/Article.aspx?articleId=663051&publicationSubCategoryId=73

Stock News 2010: Visa payments volume in Asia Pacific grows 12% to $800 billion

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MANILA, Philippines – Visa Inc. reported increased card spending throughout the Asia Pacific region.

For the 12 months ended September 30, 2010, payments volume generated on all Visa cards across Asia Pacific reached US$800 billion, an increase of 12.0 percent over the same period last year.

Significantly, the total number of actual payments transactions increased to 10.2 billion, up 11.4 percent from 12 months ago. This increase highlights the continued trend by consumers to use electronic forms of payments rather than cash and checks throughout the region.

Overall, across the Asia Pacific region, both Visa debit and credit products recorded strong growth throughout the year; payments volume for debit increased by 42.9 percent while credit increased by 9.7 percent.

The number of Visa debit cards increased by 15 percent for the year ending September, 2010. This growth figure is a key indicator that more and more people are joining the formal banking system, a sign in turn of improved financial inclusion in developing economies.

http://www.mb.com.ph/node/293099/vi

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