Tag: biometric technology

Biometric technology could make the mobile commerce industry safer

| February 16, 2015

Biometric technology may become a very prominent part of the mobile commerce world

Advanced biometric technology could play a major role in the future of mobile commerce and security. NXT-ID, a company that specializes in biometric technology, will be attending a new business event that has been formed to promote the use of smart technologies in the North American market. This technology is becoming quite prominent, because it serves as a way to improve the security of mobile devices. Mobile security has become a major priority for those that are participating in mobile commerce.

NXT-ID to highlight new technology at upcoming event

At the event, NXT-ID’s chief technology officer, David Tunnell, will be speaking about the issues that exist in the digital world. Tunnell will make note of technologies that have been designed to protect private information and how these technologies can be used in a convenient manner. Attention will be brought to NXT-ID’s own solution, called MobileBio, which has been developed to mitigate consumer risks in the realm of mobile commerce and computing.

Biological information could keep consumers safe

Biometric technology could make mobile commerce saferBiometric technology is gaining momentum in the mobile commerce industry because of its ability to protect consumer information. This technology uses biological information to safeguard mobile services and devices. This information can be a fingerprint, a person’s voice, or even their eyes, as biometric scanners can be used to collect this information. This information can then be used to unlock a mobile device or authenticate a mobile payment.

Mobile security continues to be a problematic issue for the mobile commerce market

Mobile security remains as one of the greatest challenges in the mobile commerce field. The market has become a target for malicious groups that will take advantage of consumer information by exploiting the weaknesses of some mobile commerce platforms. Biometric technology could help resolve this issue, as obtaining biological information is considerably more difficult for hackers than it is to steal digitally. While biometric technology may help resolve many security issues, the technology does not exist as an absolute defense against threats.

Experian predicts the dominance of mobile payments

| February 13, 2015

New study highlights the potential decline of debit and credit cards

Experian, a leading information services and credit organization, has predicted that there will be a major shift in commerce in the coming years. The company has released a new study that suggests that mobile payments will be in wider use than debit and credit cards by 2020. Mobile commerce has been gaining momentum over the past few years,  powered by the aggressive adoption of smartphones and other devices in prominent markets.

Survey shows that a growing number of consumers are showing interest in mobile transactions

According to the study, mobile payments are growing particularly quickly in the United Kingdom. The study includes results from a recent survey that Experian held, showing that one in three respondents believe that they will be using mobile payments more than other forms of commerce in the coming years. Nearly half of the respondents noted that they were ready to fully embrace mobile commerce systems that made use of biometric technology. This technology uses biologic information, such as a fingerprint, to protect mobile devices and transactions.

Credit cards and cash are losing their luster among consumers

Mobile payments - ExperianThe survey also showed that 40% of respondents believe in the decline of credit cards, with 70% believing in the declining use of cash. Mobile payments are seen as very convenient for consumers that have begun to base much of their lives on their mobile devices. New payment systems allow consumers to make purchases using nothing more than their smartphones, and retailers are embracing mobile commerce in order to better engage these consumers.

Security remains a major issue for the mobile commerce space

While mobile payments are expected to become more prominent in the coming years, there are still many challenges facing the mobile commerce space. One of these challenges has to do with security. Several companies that support mobile transactions have recently been targeted by malicious groups that want to exploit the financial information of consumers. Without adequate security measures, the growth of mobile commerce may lose steam.