Earlier this year we reported that Visa was acquiring South African mobile financial services company Fundamo for around £68 million.

It’s now announced the first Visa product using Fundamo’s platform, which will enable financial institutions and mobile network operators to offer Visa prepaid accounts on mobile phones.

Cathy Majtenyi of voanews.com writes:

In the slums of Kenya's capital, residents and aid groups are using new technology to send and receive money.

Irene Okoth and her five children have been living on 50 cents a day in Nairobi's Korogocho settlement.  That is what she earns recycling garbage from the nearby dump.

Mark Bridge writes:

Mobile banking. eBanking. Mobile money. m-payments. They’re all terms that are often thrown around interchangeably (and incorrectly) when talking about mobile financial services.

To help understand more about the difference facets of mobile commerce - from security concerns through to current implementation and future innovations - I headed for Gemalto’s recent Innovation Day at the Museum of London. I started by talking to Howard Berg, senior vice president at Gemalto, and admitted to him that I still thought of Gemalto as being a SIM card and smartcard manufacturer rather than the digital security company it’s become.

We talk to Howard Berg and Naomi Lurie of Gemalto about financial services on mobile phones, covering everything from security concerns to mobile banking and contactless payments.

Isis, the US-based mobile commerce venture announced last November by AT&T Mobility, T-Mobile USA and Verizon Wireless, has acquired a number of new supporters.

HTC, LG, Motorola Mobility, RIM, Samsung Mobile and Sony Ericsson all say they’ll be introducing NFC-enabled mobile devices compatible with the Isis technology standards. In addition, Isis is working with DeviceFidelity to add NFC functionality to other mobile devices.