'Adapt or die' as mobile payments to top 1.8bn

Banks must 'adapt or die' when it comes to the digital world, with a number of people using mobile banking set to double in the next four years.

According to figures from accountancy firm KPMG, 80 million people used mobile banking in 2014, but this will reach 1.8 billion by 2019 - more than 25 percent of the global population.

Mobile is already the largest banking channel by terms of volume of transactions, according to KPMG's figures which used primary survey data supplied by UBS Evidence Lab, but the sector is about to experience rapid growth.

The Global Mobile Banking Report suggests the volume will increase as mobile banking and payment systems are integrated into other technologies.

INVEST NOW

Banks must adapt of die. Mobile banking is clearly supplanting all other channels as the main portal between the bank and the consumer. Many banks have already risen to the challenge and invested in new infrastructure and pioneering initiatives, but others must follow suit and commit to building both immediate propositions and ongoing capability to keep up with the pace of change.

'Banks must overcome substantial infrastructural challenges and reconcile consumers’ appetite for ease of use with greater security. Boldness will be required to overcome these challenges and the only sure-fire winner will be the consumer'.

DEVELOPING WORLD

KPMG claims that in the short-term, the availability of mobile banking is a key factor when customers choose to switch provider. Adoption rates are highest in developing countries reaching 60-70 per cent in China and India, as opposed to developed nations such as the US, UK and Europe.

Samsung has partnered with MasterCard for the European launch of its contactless payments service Samsung Pay.

The Korean manufacturer will use MasterCard's Digital Enablement Service (MDES) to allow users to make purchases through their mobile devices.

"Both organisations are committed to ground breaking tech innovations that will deliver on the promise of a true mobile wallet," said Global Head of Samsung Pay - Injong Rhee.

Samsung Pay is scheduled to launch in the US and Korea later this summer, and now the manufacturer and Master Card will work with card issuers to bring the service to Europe, but the firm did not reveal a launch date.

MDES was announced in 2013 and MasterCard claims 'millions' of accounts have been 'tokenised', which provides the security aspect of the transaction when making digital wallet services.

MasterCard Europe president Javier Perez added; "With the continued global growth and reliance on connected mobile devices, we are delighted to expand our relationship with Samsung by extending the reach of Samsung Pay and MDES to cardholders in Europe. Europeans have been leading the way in the adoption of new ways to shop, buy and make payments. Through our strong partnership with Samsung we look forward to continuing to drive innovation in mobile commerce by creating a simple and secure digital payment experience for consumers"

The news comes following the UK launch of Apple Pay on 14 July '15. The service is currently available in more than 250,000 locations across the country. No more digging for your card in your wallet, pay using your iPhone 6, Apple Watch or iPad. Banks participating in Apple Pay;

• American Express • first direct • HSBC • NatWest • Nationwide Building Society • MBNA • Royal Bank of Scotland • Santander • Ulster Bank

Ofcom asks industry to help rewrite portability rule book

Ofcom has launched a consultation on the process used to change mobile provider and port their number.

The current process requires a consumer wishing to port their number to first inform their provider and request a Porting Authorisation Code (PAC), which they must provide within 24 hours. That code, which is valid for one month, must then be issued to their new provider in order to retain their existing number. Ofcom said it is concerned this process has led to some operators making it deliberately difficult to switch provider and as of last month, opened an investigation into arrangements for cancelling services.

The investigation comes after it was revealed that operators were using 'dirty tricks' to delay providing PAC codes and ultimately preventing customers from leaving. The regulator has already requested feedback from UK operators on the current system and is now inviting comments from operators and other parties involved in the industry for ideas on how to change the porting process. Interested parties must submit comment by October 6th.

Ofcom has already suggested the introduction of its 'gaining-operator led service', that would cut out the part where customers have to contact the network they are leaving.

Ofcom requested users with suggestions go online to www.ofcom.org.uk and select the stakeholders option, which brings up contact details where ideas can be submitted.

iPhone - Is it fake or real????

When you got your precious, shiny new iPhone, did you check its pedigree. The following report may make you shiver........

A factory which allegedly made up to 41,000 fake Apple iPhones has been raided in China, with nine arrests. The operation reportedly involved "hundreds" of workers repackaging second hand smartphone parts as new iPhones for export, with counterfeit phones produced worth 120m yuan ($19m). The factory was discovered on 14 May but was revealed on social media by Beijing's public security bureau on Sunday, according to reports. The operation was set up in January. It was led by a husband and wife team, on the northern outskirts of the Chinese capital, according to Beijing authorities. They said they had been alerted to the factory by US authorities which had seized some of the fake phones.

The reports come amid an official Chinese crackdown on counterfeit goods, with authorities pushing firms to trademark their goods. China has also agreed to work with the US authorities to try to stem the large quantities of fake goods flowing between the two countries.

The discovery of the factory comes four years after fake Apple stores were found in Kunming city, China. The fakes were so convincing she said many of the staff themselves were convinced that they were employed by the US electronics firm.

So let us help you; how to check if your iPhone is fake or real.

Each iPhone has a serial number that identifies it. By looking up the serial number, you can verify whether or not it's in Apple's database. Locate the serial number on the iPhone by tapping "Settings," choosing "General" and selecting "About." Scroll down to "Serial Number," and keep the screen open or write down the number. Visit "https://selfsolve.apple.com/agreementWarrantyDynamic.do" and input the serial number. The system lets you know whether or not your iPhone is still within the warranty period. If you receive the message "we're sorry, but this serial number is not valid. Please check your information and try again," it is likely that the iPhone is a fake.

Always check where you are getting your phone from, or just make Fivebars Mobile your first point of call for all your telephony needs.

IoT - what's it all about!

Businesses are connecting everything you can think of to the internet - cars, vending machines, white goods, cameras, wind turbines and even cattle.

Rather than thinking about IoT as just a way to connect ‘everything to everything’, you need to consider the value this technology can add to your business by supply.

No business can afford to be complacent about the Internet of Things (IoT) and machine-to-machine (M2M) communication.   This innovative technology is creating new opportunities for businesses to push the boundaries and deliver new, disruptive services ahead of your rivals.

Many of you will know M2M, or Machine to Machine to give it its full title, but in recent years, it’s no longer just about machines talking to machines.  It’s now about almost everything on the planet being connected, via the Internet of Things.  And as many of these connected ‘Things’ are in a mobile environment, they require Mobile SIM’s to complete the connectivity process.

IoT isn’t just the next big thing, it’s set to see massive growth with an additional 20 billion SIM’s being connected over the next 5 years.  That’s an 1800% growth rate on where we are today.

So what’s driving the growth?  What are these ‘Connected Things’?  Well the simple answer is that companies are connecting literally everything to the internet and they’re doing this in order to obtain more date and drive a more accurate and timely decision-making process. 

If you already know about IoT let us connect you, if you want to know more about IoT and how it will grow your business let us help you.

'Don't be rushed, don't be hushed'............

July is Scams Awareness Month

July is Scams Awareness Month, a campaign from Citizens Advice and Trading Standards aimed at improving our ability to stop and avoid scams.

Thousands of people fall for telephone scams each year.  And it's not just vulnerable people who get caught out - professionals, professors and even bank managers have fallen prey to some of the tricks detailed below.

The Scams Awareness Month tag line this year is 'Don't be rushed, don't be hushed'.

This is  particularly appropriate when it comes to telephone scams, people calling out of the blue offering investment opportunities with phenomenal returns, or calls to say your computer has a virus, when it doesn't or of course the one we all know about the call from 'your' bank.

So, lets take a closer look at just how 10 common telephone scams work, and how to protect yourself.

1.  Investment scams

Many of us will at some time receive a phone call out of the blue from someone promising us a great way to make money.  Often it will be enticing you into investing in something exotic like wine, carbon credits or land in Brazil.

The deal on offer will sound fantastic.  You'll be told that the investment is low risk, there's no way it can loose.  And the returns will be unbelievable, far more impressive than anything you can get from your bank or even by sticking your money into a few FTSE 100 shares.

Of course, it will all be a con.  The callers are scammers, trying to get your to sign over your cash into an investment where the only winner will be them.

Citizens Advice reported that one person it spoke to was convinced to invest £100,000 wines, only to discover they were worth less than half that amount.

2. Pension Scams

One of the most common cold call topics at the moment are pension.  Thanks to the new pension freedoms over-55's have far more control over what to do with their pension pots.  And that presents a massive opportunity for scammers.

Back in May, the Information Commissioner's Office reported receiving more that 1,000 complaints about pension-related cold calls and texts this year already.

Beware, if someone calls you out of the blue offering to help you access to your pension particularly if you're not yet 55, its going to be a scam.

3.  Computer virus phone scams

Some scammers will simply prey on your fears to con you out of your money.

For example, some scammers will call and tell you that you have a virus on your computer and that only they can help you remove it.  They will pretend to be from Microsoft or another big tech company, and talk you into downloading some form of software that allows the caller to access your computer, so that they can 'remove the virus'.

They will almost certainly try to empty your bank account or spend on your credit card too.

4. Bank account scams

Scammers may also call and say that there has been a security breach on your bank account that they need to fix.  Of course, to do that they'll need your account details, including your PIN.  Give these details and your account will be drained!

Or there is the courier scam.  You receive a call, supposedly from the police or your bank, stating that it has seen fraudulent payments on your card and it needs to be replaced.  A courier will be sent to collect your card and arrange for a new one.  By now they have your card, your name and your home address.

5.  Tax rebate scam

You will receive a call informing you that your are due a tax rebate.  You are then asked to divulge your bank card details over the phone so the money can be paid in to your account.  Of course the fraudsters plan is to take money from your account.  

If you are due a tax rebate, you will only every be contacted in writing by post.

6.  Telephone disconnection scams

Here the scammer will call posing as a representative of a major telecoms provider.  You will be told that your account is in arrears, or your telephone line needs digital upgrade work.  As a result, you will need to hand over your bank details to make a payment.  You're then tricked into believing your phone line has temporarily been cut of - which leads you to think the call is genuine.  However, in reality the fraudster stays on the line with the 'mute' button on meaning you can't make any calls.

7.  Spoof phone number scams

It is easy for scammers to buy 'spoof' phone numbers, which look like genuine UK telephone numbers, in order to give themselves more creditability.  One particular warning sign is if the caller tries to draw special attention to the name and number which appeared on the screen when your phone started ringing.

8.  Council Tax Scams

Bogus callers posing as council officials inform home owners that they've either paid too much or too little council tax due to their due to their homes being put into a new tax band.

During the scam, the victim is urged to hand over their bank details to ensure a refund can be made or to avoid a fine for late payment.  Of course, what actually happens is very different - the fraudsters empty the victims bank account and are never heard of again.  Local authorities have stated that no council would ever contact a resident in such a way and that all correspondence in such cases is written.

9.  Text Message Scams

A new scam is doing the rounds which trick victims into handing over bank security details through spoof text messages.  The text appears to be sent from the victims bank, claiming that the recipients account or account details need to be updated.

They encourage people to call a number or visit a website stating that the matter is urgent.  What the recipient doesn't know is that the number or website is controlled by fraudsters, allowing them to steal security details which can then be used to access the recipients bank account to steal money.

Scammers use specialist software which alters the sender ID on the message so that it appears as the name of the victim's bank, adding it to any existing message threads on the recipient's phone.

10.  How to protect yourself

You should always be suspicious of any call out of the blue.  If an investment sounds too good to be true, then chances are it is.  If the caller says they are from your bank, don't be afraid to hang up then call the bank directly to establish if the caller's claims are genuine.

The person on the other line will be trying to hassle you into agreeing to whatever they want, whether that is investing in a diamond mine in South Africa or handing over remote access to your computer.  Don't let them.  Always take your time.  Or just hang up, don't get scammed because you didn't want to be rude.

You could invest in a 'nuisance calls blocker' telephone and make sure you are signed up to the Telephone Preference Service.

And you should always report any attempted scam calls to Action Fraud.

Mobiles ' most popular way to bank'

Banking on smartphones is a 'game changer' which is set to be more popular than using a computer to bank.

Customers will check their current accounts 895 million times on their mobiles in 2015, research for the British Bankers Association suggests.

This will outstrip 705 million checks on computers, 427 million branch visits and 64 million telephone calls.

Five years ago, internet banking was the most popular.

In 2010, customers checked accounts 565 million times on their computer, 502 million times at a branch and only 86 million times on mobile phones.

"Technology is changing our lives and banking is no different," said Anthony Browne, Chief Executive of the BBA.  "The rapid take up of apps and mobile banking appears to be a real game changer for the British public".

Cash Drop

Customers have moved £2.9bn a week using  banking apps in 2015, compared with £2bn a week on average in 2014, the BBA said.

The figures come after a report in May found that cashless payments had overtaken the use of notes and coins for the first time.

Some 52% of payments last year were made up of electronic transactions, ranging from high-value transfers to debit card payments, as well as cheques, according to the Payments Council.

http://www.bbc.co.uk/news/business-33132111

VODAFONE TRIALS BIRD BOX ANTENNA

Vodafone has developed a mini-antenna designed to look like a bird nesting box.

The new mini-antenna, designed in conjunction with NET Coverage Solutions, picks up signal from a nearby mobile mast and boosting it to strengthen indoor coverage.

Early  Bird

The box is currently being trialled in a garden in Wiltshire, with the design specifically aimed at blending in the a rural setting

Vodafone UK head technical engineer Pedro Santos, who installed the system, said "We take great care about the visual impact our systems have on the beautiful countryside.  A standard external mobile antenna can look out of place situated on, or near, a rural cottage so we are always looking at clever ways to ensure they blend in to the surroundings".

"The Vodafone bird box in working well and no birds have been sufficiently fooled to try to get in to it, although the customer says it looks very convincing"