I did a post last year on BSP’s SMS Banking, basically discussing their abilities to check account balances. They have also rolled out services to top up your Digicel phones from their ATM’s and now they’ve introduced the service to top up your Digicel phone from your bank account via your mobile phone.
There’s allot of convenience in that, I know that it will not immediately cut down on the huge queues at the branches, but it could be the first baby steps towards mobile wallets. Data Nets have been working on something and it was claimed that ‘…The innovation is targeted at the rural majority of Papua New Guineans who do not have bank accounts. You can pay your PMV fare, buy your kerosene or even food in the trade store using your phone…’
However from what I read earlier about Data Nets system, it sounds like their service will have no interaction with the banks in the early stages. So I’m guessing that they are banking on building up subscribers in their closed system before they go to BSP for example.
So looks like both companies are after the same thing although coming to it from different angles. Perhaps they may be in discussions but I think there’s enough space in the market for all players to start creating a uniform mobile payment system that all service providers and vendors can use so that we can have uniformity and more importantly in the future it will make it easier to regulate since we are dealing with people’s money here.
But nice one BSP, hope to be able to buy more using my mobile in future.