Google retires Kenyan cashless transit service

From Finextra –

“Google's tactical retreat from the payments market continues apace with the closure of Bebapay, a pre-paid card for contactless transit fares in Kenya that was launched in 2013 with the support of Equity Bank.

In a notice to its 100,000 cardholders in Nairobi, the search giant said it will discontinue the service in March.”

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Google Makes Subtle Moves to Boost Mobile Payments Platform

From Payments Week –

“Google Wallet may finally receive a much needed upgrade this year. Official announcements are expected during the company’s annual I/O conference in June.

Experts say the competitive nature of the mobile payments space has caught Google’s attention. In particular, it aims to slow down the spread of Apple Pay.

Rumors supporting the tech giant’s plans to boost its payments services start with the possible acquisition of Softcard, currently owned by AT&T, Verizon Wireless and, T-Mobile USA.

“We believe these efficiencies will best position Softcard in the marketplace while maintaining focus on serving out market,” mentioned a business representative during an interview with TechCrunch.”

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BBC to publish 'right to be forgotten' removals list

From BBC News - Technology

"The BBC is to publish a continually updated list of its articles removed from Google under the controversial "right to be forgotten" rule.

The ruling allows people to ask Google to remove some types of information about them from its search index.

But editorial policy head David Jordan told a public meeting, hosted by Google, that the BBC felt some of its articles had been wrongly hidden.

He said greater care should be given to the public's "right to remember".

Following the ruling, Google set up a form on its site allowing people to request which links should be taken down.

The European Court of Justice (ECJ) said links that were "inadequate, irrelevant or no longer relevant" should not appear when a specific search - usually a person's name - was made."

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Raincoats, taxis and the future of banking

From Banking Technology

“What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.

Narain is an enthusiastic early-adopter of every mobile financial technology under the sun. Having joined the bank in 1999, he has worked in investor relations, strategy, corporate development and technology and operations, and has a keen eye for some of the latest trends – including wearable technologies and the ‘internet of things’. However, he is also a vocal critic of many of the solutions out there today.”

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Online Firms Blast NSA's Tactics

From BankInfoSecurity

“A letter from eight prominent online companies to President Obama and Congress calls for reform of government surveillance programs, outlining concerns about the way the National Security Agency monitors online and telephone communications.

The companies - AOL, Apple, Facebook, Google, LinkedIn, Microsoft, Twitter and Yahoo - sent the letter this week, urging the federal government to institute reforms that ensure government surveillance efforts are clearly restricted by law, proportionate to the risks, transparent and subject to independent oversight.

"The tech giants' message couldn't be any clearer or more welcome - the government's massive spying authorities must be reined in immediately," says Michelle Richardson, legislative counsel at the American Civil Liberties Union's Washington legislative office. "Widespread support for reform will only continue to grow until Congress and the administration deal with out-of-control spying head on by prohibiting indiscriminate surveillance."

Fueling concerns about NSA activities are what seem to be never-ending leaks from former NSA contractor Edward Snowden. Among the latest was a Dec. 4 Washington Post report that the agency is gathering nearly 5 billion records a day on the whereabouts of cellphones around the world, which allows it to track the movements of individuals - and map their relationships - in ways that would have been previously unimaginable.”

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First Look: 'Glashion' App Shows Glass' eCommerce Promise

From American Banker

‘ "Ok Glass, I want this!"

After giving that command, the user of Google's wearable computer snaps a photo of something he wants. Google automatically calls up similar items through ShopStyle's API.

Shoes. Bags. Jeans.

Developers at TechCrunch's Disrupt SF Hackathon created this Glashion software over the weekend, which was the start of Fashion Week.

The software shows Glass' potential for digital transactions beyond clothing. And it could be a boon for merchants looking to advertise their wares through merchant-funded deals.

The ability to use the device to digitally recognize real-world items could have implications for banks. It's easy to imagine a future where Glass users could use the device to pull up context around services associated with loans. For instance, after taking a picture of a car, the wearable computer could pull up a quote for the terms of the advance.’

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IBM on the customer-centric model

Mike Hobday, banking practice leader, IBM Global Business Services, UK and Ireland, talks to Finextra about the challenges banks face when creating a customer-centric business model. While banks “have been talking about this for a long time,” Hobday argues that now is the time when banks will truly shift their operational model en masse, especially as non-bank competitors like PayPal and Google continue to make additional inroads into financial services.

Google to Fund, Develop Wireless Networks in Emerging Markets

“Google is deep into a multipronged effort to build and help run wireless networks in emerging markets as part of a plan to connect a billion or more new people to the Internet.

These wireless networks would serve areas such as sub-Saharan Africa and Southeast Asia to dwellers outside of major cities where wired Internet connections aren't available, said people familiar with the strategy.”

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Google moves into Kenya’s payments market

“Google has teamed up with a leading Kenyan bank to launch a pre-paid card for bus travellers, in what it says is a first step to a wider involvement in the country’s mobile payments market.

The US firm has partnered with Equity Bank to offer an NFC-based card called Bebapay that enables travellers to purchase tickets on the country’s buses.”

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The M-Pesa Story — and Google’s Attempt to Replicate It

How is a third world tech country paving the way when it comes to the future of mobile banking? 90 percent of Kenyans use their phones to access the internet and M-Pesa is bringing mobile banking to the nation.

“The only significant change in money since credit cards, 60 years ago, is M-Pesa. The transaction costs for it are so minimal that banks cannot compete with it.” These are the word of Erik Hersman, Founder, iHub.

The story of Kenya’s M-Pesa network, launched by Safaricom, is well known. But did you know Google is working on a similar system?

Bloomberg's Jon Erlichman explains.

What we are reading … 14th March 2013

Android accounts for most mobile malware, says F-Secure http://dld.bz/cpxBX

Retailer sues Visa over data breach penalties http://www.finextra.com/News/FullStory.aspx?newsitemid=24623

GoPago Sees History Repeating With mPayments Revolution http://dld.bz/cpxBW

UK govt rejects calls to tighten banking leverage rules http://dld.bz/cpT27

How to Manage Your Project Priorities http://shar.es/enmkO

JPMorgan Chase Suffers Online Banking Outage, Confirms Cyberattack http://dld.bz/cpT26

Why Basel III Matters http://dld.bz/cpxBV

What businesses can expect to see with Google Glass http://dld.bz/cpxBT

FNB's digital boom http://businesstech.co.za/news/banking/32902/fnbs-digital-boom/

Do Banks Need Intelligence Officers? http://shar.es/jLOZM

Google Glass Could Spur Mobile Banking on Steroids

“Since their inception, computers have morphed. Once bulky, now small. Once obvious, now discreet. Soon they will be wearable. So, when you walk down the street, a message will brilliantly appear in the corner of your eyewear: Look, an ATM!”

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Google Glass Could Spur Mobile Banking on Steroids

“Since their inception, computers have morphed. Once bulky, now small. Once obvious, now discreet. Soon they will be wearable. So, when you walk down the street, a message will brilliantly appear in the corner of your eyewear: Look, an ATM!” 

read more>>

Google looks to ditch passwords for good

“Google engineers are looking at ways to stop using passwords, which they believe are no longer enough to keep users safe.” <<READ MORE>>