Deutsche Bank’s Global Transaction Banking (GTB) unit recently announced an introduction of mobile phone payments service to its clients in 80 countries across Europe, Middle East and Asia. Europe-based mobile payment provider, Luup, is selected to be the bank’s “partner in crime” and the two companies will enable consumers to securely transfer money from any mobile device with any mobile network.
Commenting on the announcement, Deutsche Bank’s Daniel Marovitz said: “Mobile technology moves on apace and we believe that now is the time to take a solution to the global market. Around 61 per cent of the world’s population has a mobile phone and the penetration of mobile continues to increase, while the use of cash continues to decline globally. Investing in technology and focusing on making banking and payments easier for clients and their customers is at the core of what we do.”
For the record, this is the first time a major bank is offering a cross-border mobile payments service to its customers. That’s no surprise and we’re sure other banks will join this game, considering the fact that the global mobile money transfer market is projected to reach $21 billion by 2011, according to a KPMG report.
[Via: CellularNews]