Mobile payments may benefit from new partnership
LevelUp, a mobile payments company, has partnered with NCR, a leading supplier of point-of-sale software in the U.S. Together, the two companies will focus on spreading mobile payments throughout the U.S. and getting consumers more comfortable with the concept of using their smartphones and tablets to pay for products. Mobile commerce has been growing more common in the U.S., but many consumers are still leery as there are many security concerns that surround the subject. LevelUp, along with NCR, hopes to placate these concerns by providing consumers with a comprehensive mobile payments platform.
LevelUp continues to generate hype in mobile commerce
LevelUp has managed to generate some hype in the world of mobile commerce, especially in the retail sector. The company offers its own mobile payments application, which can be used by consumers to make purchases from a mobile device. It also offers a platform designed for retailers who are interested in reaching out to mobile consumers, providing them with a way to facilitate mobile payments. This platform leverages the universal usability of QR codes to help make mobile payments more available to a wider range of consumers. Near the end of 2012, more than 500,000 people were making use of the LevelUp application alone.
NCR contact may prove beneficial for LevelUp
NCR has an extensive network of connections in the retail sector as well as the food industry. The company specializes in designing point-of-sale systems and has taken note of the rise in demand for mobile commerce systems in recent years. NCR is working to meet the needs of its clients by putting more focus on supporting mobile payments. LevelUp is expected to benefit from its new partner’s extensive access to businesses in the retail sector.
Companies look toward food industry
LevelUp is not only focused on the retail sector, of course, and has interests in the restaurant business as well. LevelUp believes that mobile payments can be especially successful in restaurants that work to cater to mobile consumers. As such, the company has been working to break new ground in this sector and grow more appealing to those in the food industry. NCR is expected to aid in this endeavor as it has connections to the food industry.
Intel and UnionPay to develop new mobile payments platform
Intel has announced a new collaboration with China UnionPay, the only domestic bank card organization in China. The two companies will work together to create a new, secure platform for mobile payments. China has become a hub for mobile technology and many consumers are beginning to show strong favor for mobile commerce. In order to accommodate the needs of consumers, UnionPay has begun to take the issue of mobile payments more seriously.
Intel to leverage its security technology for new platform
Security is one of the major challenges that continues to serve as a roadblock to the widespread adoption of mobile payments. Mobile devices are beginning to traffic a significant amount of valuable financial information. This information has become a very attractive target for hackers and malicious groups looking to exploit this information. To address the security problem, Intel leveraging its Identity Protection Technology for the new mobile payments platform. UnionPay accounts for 3.5 billion bank cards, which are accepted in at least 141 countries around the world. Providing these consumers with a secure way to engage in mobile commerce may help mobile payments finally attain the momentum needed to begin replacing more conventional forms of commerce.
UnionPay showcases NFC-based mobile commerce service
UnionPay has also begun showing off its Quick Pass service, which in a mobile commerce service that makes use of NFC technology. More than 1.1 million NFC-enabled point-of-sale terminals were installed in December of 2012 in order to serve as an infrastructure for the Quick Pass service. This service is meant to perform alongside the mobile payments platform that Intel and UnionPay are currently developing.
Mobile commerce continues to find success in Aisa
Mobile commerce has found a great deal of traction in the Asian market. With mobile technology penetration high in many sectors of the market, mobile commerce has been able to establish a strong foothold in several countries. There are, of course, security concerns regarding the widespread adoption of mobile commerce, but companies like Intel and UnionPay are working to put these concerns to rest through the establishment of adequate security systems that will protect a consumer’s financial information.
