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Bling has focused to date on partnering with community banks, which can bring in a ready-made user base of local merchants and residents.
But as the Bling service has gained traction, observers say its growth has been stymied by its focus on mom-and-pop shops, rather than large, national retailers where distant corporate bosses typically dictate what payment equipment their stores can use.
SAN RAFAEL, CA–(Marketwire – June 29, 2010) – ClairMail, Inc., the leader in mobile banking and payments solutions, today announced it was named “Best in Class” by Javelin Strategy and Research in their new “2010 Mobile Banking Vendor Analysis” report. ClairMail was among the select companies that Javelin invited to participate in the mobile banking report and was awarded the highest number of points in each evaluation category. ClairMail continues to distinguish itself as a leader in the mobile financial services industry with this prestigious honor.
“For financial institutions to truly tap the power of the mobile channel, they must recognize mobile banking as an offering distinct from online banking,” said Mark Schwanhausser, senior analyst in charge of multichannel financial services for Javelin Strategy & Research. “Leading mobile banking vendors are quickly diversifying their product offerings and strategy to serve the needs of individual financial institutions, while banks and credit unions are seeing the benefits of mobile banking through increased customer retention, lower cost, and higher customer satisfaction.”
It’s likely most people in Stoneham, Mass., never heard of Bling Nation before this summer.
But Rule Loving is confident they’ll take to the mobile payment service Bling created.
“There’s no reason not to do it,” says Loving, an assistant vice president at the $420 million-asset StonehamBank, which tested the service with its employees before starting to roll it out to customers in June.
Users stick a small plastic tag on their mobile phones, allowing them to simply tap the phone to pay for purchases at participating local businesses.
Bling automatically transfers payment from the customer’s bank account to the merchant’s. A text message acts as a receipt, providing details of the transaction and the new account balance.
The new apps are in addition to the existing Wells Fargo Mobile Banking app for iPhone and iPod touch.
“We are listening and responding to our customers by broadening our mobile banking services,” Arah Erickson, head of Wells Fargo Retail Mobile Banking, said in a statement
Obopay Inc. is trying something new. Again.
The Redwood City, Calif., company is expected today to introduce a mobile payments system in Senegal, the latest in a string of marketing strategies the company has used — some more successful than others — to deliver its money-transfer technology.
Obopay is nothing if not inventive. It has aimed its person-to-person funds transfers directly to consumers. It has struck partnerships with Citigroup Inc. and MasterCard Inc. It’s moved into India and Kenya. And last month it announced a new business model focused on selling its software to U.S. banks.
These efforts have had varying degrees of success, but the company says that each new marketing strategy has helped it further refine its business model.
Obopay is “building on their experiences,” said Beth Robertson, the director of payments research for Javelin Strategy and Research. “They have a lot of initiatives in a lot of markets.”
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