There were financial smartphone and mobile banking moves galore during the month of September. A few weeks back, mFoundry announced its application had been ported over to the iPhone universe, allowing banks to build and customize compatible mobile banking platforms. mFoundry expects at least two banks to launch soon on the iPhone through Apple’s online application market – joining the likes of Bank of America, which reportedly has almost 25 percent of its mobile banker user base on iPhones.
Last week, Visa announced it was developing payments software to run on Google’s new open-ended Android phone operating system, which has just taken a bow as a rival – both in market share and philosophical strategy –to the closed iPhones ecosystem. The new payments software will be made for downloading to Android handsets (the first of which is available through T-Mobile) and will be initially offered to Chase Visa cardholders. The Visa system is the first Android-centered announcement of a financial app since Citigroup said it was developing an Android-compatible mobile banking app with Mobile Money Ventures, Citi’s joint venture with South Korean partner, SK Telecom.