Security is becoming a major issue, especially as people around the world begin to rely more heavily on mobile technology to function in society. Security is becoming a major concern in regards to mobile commerce. As consumers become more reliant on their mobile devices, they are beginning to become more enthralled with the concept of using these devices to make purchases. This growing interest has lead many technology and telecommunications company to begin developing mobile commerce platforms very quickly, which could be leading to fairly serious security problems that could put the financial information f consumers at risk of exploitation.
Mobile wallets being produced at break-neck speeds
Mobile commerce platforms, often called mobile wallets, have been in development since early 2011. Google is one of the companies that first introduced one of these platforms, which came in the form of the now popular Google Wallet. Several other companies, both large and small, have produced similar platforms, with some companies working on releasing numerous variations of the same platforms they have already released. The companies interested in mobile commerce are eager to ensure that their position in the burgeoning mobile commerce industry is secured.
The speed at which mobile wallets enter the market may hint to their inherent security flaws
Elephant Talk Communications, an international telecommunications business, believes that the rampant pace at which these companies are releasing mobile commerce platforms is leaving room for serious security risks that could damage the finances of consumers. The company suggests that the more a company focuses on the speed of producing these platforms, the more likely they are to overlook serious security faults. Thus, insecure platforms could be released to the global market, which could then be easily exploited by hackers.
Companies may not be taking time to ensure the security of their mobile commerce platforms
Currently, mobile commerce hinges on NFC technology. The technology allows for the transmission of digital information and makes mobile wallets effective commerce tools. NFC technology is often criticized for its lackluster security features, but the problem may instead lie with mobile wallets themselves. If companies are not taking the time to ensure that their platforms are secure, mobile commerce could see serious delays in adoption around the world.
Android and iOS may hold sway over the majority of the mobile market, but Microsoft is keen to re-establish itself as a major contender with the launch of Windows Phone 8. The new smart phone, which was launched earlier this week, may not have received the same fanfare that usually accompanies the launch of an iPhone, but it has still managed to generate a great deal of buzz in the mobile technology world. Much of the interest Windows Phone 8 is receiving is thanks to its use of NFC technology.
Microsoft sees potential in NFC
Microsoft has brought NFC technology to the Windows Phone platform in order to address growing demand for the technology amongst consumers. Microsoft does not share the same concerns as Apple regarding NFC technology and believes that it can be used to provide better services to consumers. Thus, Windows Phone 8 boasts of several features that are based on the technology, such as a mobile wallet that will serve as a platform for mobile commerce.
Wallet application serves as a commerce hub for consumers
The Windows Phone 8 Wallet, as it is called, provides consumers with a wide range of services. Through the Wallet, consumers can store boarding passes for trips, loyalty rewards from retailers, movie tickets and other such materials on a single platform. This digital information can be accessed and used at any time. The Wallet is also able to store the financial information of a consumer, allowing them to make purchases for goods and services using nothing more than their Windows Phone 8.
Windows Phone 8 able to interface with Android platform
While Windows Phone 8 boasts of many features that have won favor of consumers, it is the device’s NFC capabilities that may solidify it as a favorite amongst the tech-savvy. By adopting NFC technology, Microsoft is putting the Windows Phone 8 in direct competition with Google’s Android platform. The company, however, is not keen to shut out Google in any way. In fact, Windows Phone 8 is able to interface with any version of the Android platform that supports NFC technology, allowing the two platforms to share digital information in a seamless manner.
