16. Mobile Financial Services mBanking - Ideal for balance enquiries, funds transfers, expense management, bill and credit card payments, stopping payments, mobile statements and loans. Mobile Payments - Key challenges: Money laundering issues (especially cross-border) and the complex value chain (the total revenue stream is getting smaller, as charges reduce. Currently the banks’ margin is 0.3%) www.Visible-Banking.com
28. NFC - Transit Hong Kong Transit’s Octopus card uses NFC technology and was deployed very quickly. In Japan, there are 74million NFC chips in mobile phone. www.Visible-Banking.com