The number of mobile banking users in Romania amounts to approximately 500,000, according to BRD estimation.
The Romanian market of payments made via mobile devices is estimated at some EUR 10 M a year, with at least one in three Romanians using this kind of service, while the development of partnerships between banks and telecom operators can support the market, Dan Virtopeanu, managing partner Breeze Mobile, part of the Leo Burnett group announced yesterday during the conference ‘Mediafax Talks about Mobile Banking.’
Most transactions, which include payments by SMS, transactions in online games and for parking, are made by internet users, he added. The development of mobile payments in Romania depends on the ecosystems which are created, the adoption of the new modalities of conducting transactions and on educating consumers. Mobile telephony operators will further play a major role, but they face new challenges like application stores that are already gaining ground. “Oppportunities will exist for those who succeed building an ecosystem with alternate solutions for mobile payments,” Virtopeanu explained.
Mobile payments will advance by 44 pc globally this year, from USD 163.1 bln last year to USD 235.4 bln, according to the market research company Gartner. The development of partnerships between mobile telephony operators and banks might support the increase of the market of payments made via mobile devices, the chief of Breeze added. The success of the new technology will depend not just on how it is implemented, but also on how customers will be educated to use it.
According to the CEO of payments processing company Pay&Co, Titus Grecescu, the future belongs to the payments made via mobile devices, and traders will accept to an increasing extent the transactions by phone, with the adoption of mobile payments expected to be faster than that of the bank card. Attending the event, Andrei Cretu, consulting manager with PwC Romania said that, in the coming years, the adoption of mobile banking will be much more aggressive compared to the acceptance of payments via bank card. “The increasing penetration rate of smartphones and youths are the reasons for this aggressiveness in the aggressive adoption of mobile banking. Practically, if it took the bank card several years to eliminate cash payments, the adoption of mobile banking will be much faster,” Cretu assured.
The number of mobile banking users in Romania amounts to approximately 500,000, according to an estimation of BRD.
BRD has 20,000 users for its mobile banking application launched in November
Just one month after being launched, the software application MyBRD Mobile already has some 20,000 users, the marketing manager of BRD-Groupe Societe Generale, Bogdan Spuza announced yersterday during the same conference. “The application ranks first in the top of downloads from Appstore, Android and Windows Phone,” Spuza informed.
MyBRD Mobile allows users to transfer sums of money, pay invoices and obtain information about their bank accounts directly on the mobile phone. The programme also allows the scanning of the bar codes printed on invoices, transfers to QR codes and phone numbers. The cost of using the application is 1 EUR/month and the commission fees charged for money transfers are similar to those existing in online banking and 30-40 pc lower than for the operations made at the bank desk.
The IT projects of state institutions have not been conceived with future in mind
The IT projects developed by state institutions were conceived for situations of the past, rather than the future, this being a reason for the failure in this sector, said Radu Puchiu, an advisor of the prime minister, who attended the conference ‘Mediafax Talks about Mobile Banking.’ “As a matter of fact, these projects are not anticipative,” Puchiu said. He added that “things started to move” in regard to implementing the IT technology in state institutions, and the near future will bring some new developments.