Monitise PLC (MONIF)

[realfast95]

Tuesday article that includes US Bank Corp use of Peri, developed by ,Monitise (but not mentioned)

http://www.bankdirector.com/issues/retail/embracing-a-mobile-mentality/

reference
http://finovate.com/2014/06/monitse-on-the-move-helping-banks-enable-commerce.html

Embracing a Mobile Mentality
By: Chris Costanzo
August 12th, 2014 | 0 Comments

mobile-mentality.pngInnovation in mobile banking can be big and bold, transforming customer activities into completely novel experiences. Or its scope can be narrow, aimed simply at automating tedious manual tasks. Either way, the effect is powerful. “Mobile features are definitely disrupting our user base and the industry,” says Jim Simpson, senior vice president and chief information officer at City Bank of Texas, a $2-billion asset bank based in Lubbock, Texas.

Under the category of big and bold is a mobile payment service currently in pilot at Minneapolis-based U.S. Bank, a unit of $371-billion asset U.S. Bancorp. Designed to eliminate even the smallest barriers to online shopping, the new service, called Peri, alters how consumers interact with print, radio and TV ads. Through QR codes as well as digital and audio watermarking, which embeds digital information into audio, digital and printed materials, consumers can simply point and click their phones at ads, leading them directly to a mobile web page where they can purchase the product. Customer and credit card information is preloaded, so customers don’t even have to enter their data. The time from when a consumer sees an ad for a product and then purchases it is practically nil.

U.S. Bank plans to roll out Peri this fall as a white-labeled product with one or more partners, and expects fashion retailers to be particularly interested. A product of the bank’s merchant processing unit, Peri will likely be embedded into other consumer shopping apps, say for purchasing fashion, with the goal of winning over new merchant customers and boosting processing volumes. Though the U.S. Bank name will not appear front and center with customers, the Peri app definitely pushes the bank into aspects of payments that go well beyond the usual back-end processing. “It’s a broader way of thinking about things,” says Dominic Venturo, chief innovation payment officer for payment services at U.S. Bank. “It’s different from where payment companies and banks have been involved before.”

Venturing into new areas and redefining the role of the bank is different from the approach taken by City Bank of Texas, where the more modest goal is to move simple, everyday processes onto mobile devices. “We’re not going to solve the payments equation,” Simpson says. “In the short term, we’re focused on everyday features.”

City Bank’s straightforward goal has not prevented it from introducing several leading-edge mobile applications. Simpson says City Bank was the first to let customers deactivate their debit cards via mobile. For customers who fear their card may be lost or somehow compromised, the turn-off feature offers immediate peace of mind. Once the card has been located or replaced, it can be turned back on again. “We’ve had a ton of success with that,” Simpson says. Similarly, users who are traveling can block or enable foreign card transactions. Another new City Bank service is the ability to re-order checks via mobile, rather than have to go to a branch or online.