Tag Archives: Money

How Can Banks Make Money From Mobile Wallets?

Are banks already perfectly set-up to win the mobile payments battle?
Can mobile payments become the most important revenue channel for banks?
What are some examples of the sources of mobile payments-driven revenue for banks?

These are some the topics which will be explored by a line-up of three mobile payments experts in an upcoming webinar about why mobile payments are necessary to meet bank customer changing demands, grow the bank customer-base and increase their revenue. This online event is hosted by Business Review and takes place at 3PM London/10AM New York on the 14th June. Register for free here.

The first panellist is Daniel Döderlein, founder and CEO of Auka, was the first to develop mobile payments technology in the Nordics and the first to launch a standalone mobile wallet in Norway. Scandinavia is now well-known for being one of the top regions in the world when it comes to the use of mobile payments. The most well-used mobile payment apps in Scandinavia are bank owned. This is in contrast to regions such as China where the extremely popular mobile payment apps such as Alipay and WeChat Pay are owned by tech companies.

Joining Daniel on the panel is Knut-Anders Wangen who is the Chief Digital Officer at MobilePay for Norway. MobilePay is the Danske Bank owned mobile payments service which is used by 3.7million users in its native Denmark.

Last but certainly not least is fintech superhero, Brett King. CEO and founder of Moven, Brett is a world-renowned futurist and speaker and an international bestselling author. His fintech radio show, Breaking Banks, has an incredible 6.5 million listeners.

The second payments services directive, PSD2, is upon us and the regulatory technical standards governing its implementation mandate that banks in the EU must provide licensed third-parties with account access by September next year. This webinar will explore what’s happened in other markets where banks have been required to open up account access and the steps we’re seeing the tech giants take in order to get ready for this change in payments regulation. The panelists will discuss where that leaves banks from a customer acquisition and profitability standpoint and how they can strengthen their digital payments channels now in readiness.

Banks know their customers are increasingly mobile. They use apps every single day when ordering take away, a taxi, for connecting with their friends, family and strangers through social media, getting the latest news, checking email and the list goes on. Despite all of this, people don’t have the same interaction with their mobile banking apps. The most commonly used feature of most mobile banking apps is the checking of account balances and recent transactions and the transfer of money across accounts. Can you see what’s missing here?

Something most of us do every day is make payments in various forms and in a multitude of situations. Even when we stay at home all day, we may, for example, order and pay – either with card online or over the phone or with cash) for a pizza to be delivered.

Mobile payments: A guide for bankers – get the free guide






Without giving away the ending, the panelists will discuss the commonality between this everyday activity – payment – and how banks can profit from solving the associated pain points for their customers – both everyday consumers and merchants.

Register for a webinar entitled ‘Profiting From Mobile Payments: How Do Banks Make Money From Mobile Wallets?‘ on 14 June on 3PM London/10AM New York for more information.

Register Here!