Industry Leaders Announce Android Open Platform for Mobile Devices
In news that could affect the evolution of mobile banking and mobile payments, a broad alliance of leading technology and wireless companies have announced they have joined forces to develop Android - calling it “the first truly open and comprehensive platform for mobile devices.” Google, T-Mobile, HTC, Qualcomm, Motorola and others have collaborated on the development of Android through the Open Handset Alliance, a multinational alliance of technology and mobile industry leaders.

Citi and mChek Introduce Innovative Mobile Applications
Mumbai, Maharashtra, India, Thursday, November 01, 2007 — (Business Wire India)
Citi India announced today that is has successfully piloted an innovative solution with mChek, a leading application developer in the mobile domain. This unique application significantly enhances convenience for retail investors, who are clients of a large broker, by enabling them to respond to margin calls or enhance their trading limits, even while on the move, by authorizing a transaction simply over their mobile phone.

Govt plans law to rein in banks
Harried bank customers could soon breathe easy with the government starting groundwork to provide legal cover to address their grievances and complaints. While the government has already written to RBI expressing concern over the recent incidents of banks using unfair recovery methods and unilaterally deciding interest rates and charges, sources said it has also decided to put in place a lender’s liability law. Centre and RBI had toyed with the idea of a lender liability law a few years ago, but settled on a code of conduct.

‘Lack of awareness hampers e-payment’
Mumbai: Lack of adequate awareness of the payment products is one reason why electronic payment in the country is not picking up. Both the Reserve Bank of India and banks should carry out awareness campaigns through media to promote the products. Banks can also educate customers who approach them for issue of drafts and payments to use the NEFT/RTGS for remittance of payments.

RBI in favour of migration to new payment model
MUMBAI: A change in the regulatory regime to enable a migration to a new payments model featuring the use of mobile phones and pre-paid cards may not be too far off. In its first review of payments and settlements systems in India, the Reserve Bank of India (RBI) has flagged off the need for a new payment model considering the high cost involved in the use of credit and debit cards for small payments. The review report has made out a strong case for raising awareness of payment products, transparency in charges and the need for possible regulatory changes to suit innovative products.

Overseas ATM sales help NCR in the Third Quarter
Strong ATM sales overseas, especially in the world’s hotspot regions, generated a 17% third-quarter increase in revenue for NCR Corp.’s Financial Self Service business, or ATM segment, the company reported Wednesday. Financial Self Service reported third-quarter revenues of US$407 million [281.3 million euros] compared with $349 million for the same three-month period in 2006. United States-based NCR, the world’s largest ATM manufacturer in terms of estimated number of machines shipped last year, attributed the increase to strong sales in the Asia-Pacific, Europe, Middle East and Africa markets. Retail Banking Research Ltd., a London-based strategic-research company and consulting firm, says Central and Eastern Europe is the fastest-growing market for ATM sales behind the Middle East and Africa.