Tag: Apple Watch

MasterCard announces partnership with Coin and WiseKey

MasterCard has become heavily involved in the mobile payments space and the company is looking to make this sector more secure than it has ever been. MasterCard has announced that it has partnered with Coin and WiseKey. The partnership with Coin may be unexpected, as the company has encountered trouble with financial institutions in the past in regards to its smart card, which emulated credit and debit cards. Despite this, however, MasterCard believes that its new partnerships will improve the security of mobile commerce.

Partnership aims to launch new system to ensure the security of mobile commerce

Through the partnership, a new developer program will be launched, providing access to an application program interface (API) to efficiently handle mobile transactions made through wearable devices as well as smartphones and tablets. MasterCard and Coin will work together to find ways to efficiently provide digitized card information that merchants can use to authenticate purchases. This is intended to track digital purchases for security purposes, allowing MasterCard and other companies to effectively crack down on fraud.

Wearable devices will have a role to play in the digital commerce space and MasterCard wants these devices to be safe

The partnership with WiseKey, a company that specializes in security, focuses specifically on wearable devices. These devices have yet to become mainstream, but the launch of products like Apple Watch have highlighted how they can be used to make mobile payments. MasterCard and WiseKey want to ensure that the transactions made through these devices is secure, which may improve their popularity among consumers that want to use these devices to pay for products in physical stores.

Security continues to be a main priority for those involved in mobile commerce

Security has long been a major issue in the mobile commerce space. Many consumers have avoided making mobile transactions because of security concerns, believing that their sensitive information would be put at risk. Several companies have begun improving the security of the mobile commerce space in order to increase confidence among consumers. MasterCard, as well as other financial organizations, have made significant progress in this regard over the past few years.

Some predictions are starting to suggest that wearables are going to start disappearing next year.

Venture capital partner, Rick Yang, from New Enterprise Associates has released a prediction that the year ahead will be a critical one in wearable technology in which many of the devices we currently see on the market will be dying off forever.

Yang spoke specifically of the first generation devices that laid a foundation but that are rapidly being replaced.

According to the prediction from Yang, first generation wearable technology devices such as Google Glass, the Apple Watch and even the original Fitbit and Jawbone fitness trackers were vital to opening up the door to a spectrum of new and far more fashionable gadgets. He explained that “What that means is the wearable that integrates very directly into your everyday life, into your existing fashion sense to the extent that nobody knows you’re wearing a wearable.”

Yang added that the later generations of wearable technology feel more like an accessory than tech.

He said that with the maturity of the market, luxury brands are going to start coming out with their own versions of smartwatches like the Apple Watch. This is already being seen in some important announcements of partnerships between luxury watchmakers and design houses that are working with tech giants to come out with appealing fashion accessories that have the features expected from wearables.

Yang said that “At the premium end of the spectrum, it’s something like a Tag Heuer, right? It looks like a Tag, but it provides much more functionality than a Tag.” He also pointed to Athos, the startup supported by venture capital, which develops and manufactures workout clothes with embedded sensors for smart features. These smart clothes track heart and respiration rate, muscle groups and other health and performance issues.

To Yang, the most important feature of wearable technology in the future will be that it will function without feeling like a device is actually being worn. That way, a user can continue with his or her regular routines without having to think about whether or not gadgets are involved.