Category: Apps

The new payments app will be called the SBI Buddy and it is going to be launched by the financial institution.

The State Bank of India (SBI) has now announced that it intends to jump into the rapidly growing mobile wallet category, that already features large players in the country such as Pocket, from ICICI Bank, and PayZapp, from HDFC.

The bank has revealed that it is planning to take part in this market, getting in while it is still very young.

A recent report from UBS and KPMG has shown that the mobile banking using population of India is the youngest in the world. In fact, those using their smartphones for purposes such as checking accounts and for mobile wallet apps are notably younger than the users in Europe and the United States. That report cautioned banks by saying that if they do not establish solid mobile banking strategies, they are at risk of losing their customers, and failing to be able to take advantage of sizeable cross-selling opportunities over the short term, while harming their competitive advantage over the longer term.

The report explained that banks are now taking on strategies that involve mobile wallet and banking apps.

In this way, banks of all sizes are taking on an attitude of “mobile first,” while the larger institutions are working on gathering up technology startups that will give them the ability to keep up with the rapidly changing and evolving industry. The report stated that “Indian customers demonstrate the highest likelihood of changing banks driven by the availability of better mobile banking services.”

It is also important to point out that SBI isn’t the only financial institution that is currently working on developing a mobile banking or payment app to enter into the industry at this point. YES Bank and Axis Bank have also recently revealed that they will be launching their own mobile apps and that these wallets will be available to customers very soon.

The SBI Buddy mobile wallet application will soon become available to current customers of the bank, as well as to certain other subscribers. The bank has already partnered up with a number of merchants, which mean that once an m-banking account has been opened by the consumer through the mobile app, that person will be able to use mobile payments without having to download each merchant’s individual apps.

10 locations of the massive retail chain will now offer this location based product pickup service.

Curbside, a company that uses geolocation technology to redesign the traditional local shopping experience, has now announced that it is rolling out its service in 10 Target locations in New York and New Jersey.

The service makes it possible for an order to be placed so that it can be ready for pickup when the customer arrives.

According to a recent press release from Target, “We know today’s consumers are looking for faster and more convenient ways to shop. That’s why Target is constantly exploring new ways to improve the shopping experience and save our guests time and money.” By using this service, customers can use their mobile devices to shop for one or several products that they want from Target. They can then drive to the store to pick it up. Geolocation technology alerts the store of the arrival of the customer so that the completed order can be brought to them.

The process involves geolocation technology in the customer’s mobile device and in beacons at the store.

This allows a customer to pull up in front of the store and pick up what they ordered on the mobile app, without ever having to go inside and find what they want. It allows them to skip the checkout line, and they don’t even need to try to find a parking spot.

Using the Curbside app and service is free, and Target does not increase the prices of its products when they are purchased through this location based technology.

According to the co-founder of Curbside, Jaron Waldman, who is also its CEO, “Curbside’s mission is to make the shopping experience at local stores faster and easier than ever before.” Waldman added that “We anticipate that local shoppers in New York and New Jersey will find Curbside to be an invaluable service that fundamentally changes the way they shop.”

As about 90 percent of Target shopping is done in-store (according to a recent study by Census), both Curbside and the retailer are hoping that they will be able to use this geolocation based pickup service to continually enhance the shopping experience.