Self Bank, Mobile Money and the Emerging Mobile Commerce Global Order

admin — Thu, 04 Mar 2010 11:12:45 +0000

Self-Banking! What does that mean? Does it really mean I can be my own bank, receiving and keeping deposits for myself? Yes and No. Yes in that you will be able to keep and carry with you, your virtual vault receiving and making payments on demand anywhere anytime as you go, using your mobile phone or Personal Digital Assistant PDA. And no, in the sense that you will not need to set up a brick and mortar Wall Street type bank, with a 9 to 5 crew to make and receive deposits on your behalf.

But how is that possible? In one word, technology and in another word m-commerce. Thanks to all of the Social Entrepreneurs who made this convergence of technology and commerce possible, giving us the plat forms through which we can buy and sell, send and receive money, and even access our conventional bank accounts if need be, all from the comfort of our mobile device.

The future of banking has arrived. In the middle of all this are Mobile Network Operators (MNOs) and financial institutions providing the framework holding together the components part of the emerging mobile-commerce order.

Unlike traditional brick and mortar banking, where you are tied to your bank, self banking and mobile money are truly liberating, releasing you from the burden of having to do your banking from a particular location. A good case in point are migrant workers in countries like South Africa and other parts of the world, sending and receiving money using their cell phones, from very rural areas far away from any brick and mortar bank.

In addition to person to person transfers, mobile money and self banking enable you to do such things as fund raising without being limited by time and space. Your transactions are instantaneous and can be done anytime. There are no banking hours to observe. You can even link your mobile money account to your traditional bank account if you so choose.

Are there any concerns about mobilemoney|selfbanking?

Yes there are. The first and foremost concern is safety. How safe are mobile banking and m-commerce? Pretty safe, I would say. What about phishing and identity theft? Well, those are very valid concerns, but self banking and mobile money accounts are a pin base transaction and only those who know your pin can access your account and that is only you. Also, Mobile Network Operators (MNOs) are deploying digital security authentication and processing protocol to protect user information and transaction details from prying eyes.

As you can see, Self Banking, Mobile Money and M-Commerce are new technology cards that have been dealt and having been dealt, they will be played, whether or not you accept it. How you play will determine your level of benefits and success with the new and emerging M-Commerce. The time is now. As with many other past technologies, the early adopters are the ones that become authorities and make a fortune with the technology. Get on board the future train of self banking, mobile money and Mcommerce today.

By: Austin Akalanze

Nine Spending Tips to Keep Within the Christmas Budget

admin — Mon, 08 Feb 2010 15:36:53 +0000

Christmas can be a real budget breaker. But with some planning and strategy, you can keep Christmas from breaking the bank. Here are 9 tips to help you out.
Make a budget. Everyone is different and has different needs, finances, objectives, etc. Decide what you can afford and what your desires are relative to the holiday. Set a spending limit and commit to staying within that limit. Make a list. Decide who you want to buy gifts for and how much you want to spend on each person. Trim your list down if necessary to meet your budgetary constraints. Decide what you want to buy each person on your list. Then stick to your list. Don’t be tempted to pick up something else that catches your eye but is much more expensive. Plan ahead and stick to the plan. Do some research before you shop. Look for sales and specials. Start early and watch for the things on your list to go on sale. Shop all year long. If you can spread out the expense during the year, you won’t have the big crunch at Christmas time. Shop Online. Many sites have deals on shipping as well as Christmas specials that will beat the traditional “brick and mortar” stores. See what is available and take advantage of online deals. Pay cash or use lay-away plans. Start saving in January, so you have what you need for the holidays. You can also see if your bank has a Christmas Club account, where you save money each week and can’t withdraw it until the holiday season. Draw names or set a spending limit on gifts. Talk with friends and family about drawing names or setting spending limits so that everyone limits the financial impact. Be creative. Make handmade gifts, or give the gift of time-babysitting, house cleaning, or weeding, are some examples. Shorten your shopping trips. Being tired impairs your judgment and decision-making skills, and you could end up buying more expensive items just so you can finish your shopping. Related to this, is last-minute, Christmas-Eve shopping, which can undo a budget in favor of “just getting something.” Limit credit card use. Stick to your budget and make sure you can pay off credit card bills within two or three months after Christmas.

By: Tyler Park

Mobile Software » Traditional Brick

Self Bank, Mobile Money and the Emerging Mobile Commerce Global Order

Nine Spending Tips to Keep Within the Christmas Budget