Tag: mobile credit cards

Mobile payments bar may have been raised by Microsoft

| March 18, 2013

Microsoft Mobile PaymentsInformation about a new system on the Windows Phone platform has just been released involving Zero-Effort.

Microsoft has just released a considerable amount of detail regarding its new system for mobile payments that could considerable improve the appeal of its Windows Phone platform, as it will give smartphone users the ability to make a purchase without any effort at all.

This will allow consumers to buy products or services without ever needing to make a move.

Many of the smartphone manufacturers and other internet giants are taking sizeable steps into the mobile payments ecosystem, such as the payWave from Visa on the Samsung Galaxy 4, and the new Google Wallet making its way through its pilot period in two American cities for several months.

While many of the big players are focusing on NFC technology for mobile payments, Microsoft has looked elsewhere.

Microsoft’s mobile payments strategy was an exploration of how a consumer could make a purchase without having to mess around with the handset at a point of sale. It has labeled the style a “Zero-Effort Payment” (ZEP).

Microsoft Research representative, Sefan Saroiu, one of the team members who was a part of the development of the ZEP mobile payments, explained that this system would give merchants the ability to provide their customers with a more personalized service. For instance, they would be able to provide frequent shopper discounts without the need for the customer to carry a membership or loyalty card.

This mobile payments system functions through the integration of Bluetooth technology, in combination with face recognition technology that is worked right into its gaming system, called Kinect. When a user who is signed up for the service enters a participating store, it is detected by the Bluetooth system. When a customer is ready to pay, the face recognition system identifies him or her.

The Bluetooth system is able to determine that the participating customer has actually entered a store, but it is the face recognition that takes it a step further by identifying the unique individual customer who is at the checkout counter. That said, while the face recognition technology is not accurate enough to provide a completely precise recognition, when combined with the Bluetooth technology, it is capable of narrowing down the individual’s potential identity very tightly.

Mobile payments PCI Security Standards Council introduces new guidance

| February 20, 2013

Mobile Payments SecurityInstructions have been released to help to decrease the risk associated with transactions in certain areas.

The Payment Card Industry (PCI) Security Standards Council has just released new merchant guidance to help to increase the security available while accepting mobile payments, which is an inherently risky area.

It is recommended that card acquirers and issuers, and banking institutions should apply this guidance.

These types of institution should help to provide this mobile payments guidance while assisting merchants with security in end to end transactions. This, according to Steve Kenneally from the American Bankers Association Center for Regulatory Compliance. He added that “Shining a spotlight on the need to improve payment security is always a great idea.” And said that “Providing specific recommendations on how to achieve a higher level of security is even better.”

The mobile payments environment must be made secure before consumers can be ensured that it is safe.

Kenneally said that his organization anticipates that the PCI guidelines will be able to be used as an additional important tool that can be used by acquirers in order to boost the security of transactions through merchants.

Among the mobile payments security issues that were addressed within this new guidance from the PCI Council are the following:

• Account data entry risks connected with smartphones and tablets, including the information transmitted through the devices as well as the data that is stored within those gadgets.
• The procedures that should be followed by merchants in order to make certain of the security on a physical and transactional level with the devices that are used for the acceptance of the mobile payments.
• Instructions for the various components that should be applied to the acceptance of the transactions, such as software, hardware, and the use of various different acceptance solutions, in addition to considerations regarding the relationship with the customer him or herself.

The PCI guidelines, said Kenneally, take into account that some of the qualities that make accepting mobile payments as appealing to merchants as it is can also offer opportunities to fraudsters. Therefore, it is very important to take specific and careful action to avoid risks as much as is possible.