Author: JT

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.

Nordstrom has launched digital storefronts to accommodate mobile shoppers.

Long-time American fashion retailer Nordstrom has stood the test of time again and again due to the company’s fashion-forward thinking, and is now readying itself for a mobile commerce future.

Mobile technology could pave the way for a new digital shopping world.

Mobile commerce is becoming more prominent in the retail market, not just in terms of online shopping but in-store shopping, as well. With more and more consumers using smartphone devices, Nordstrom, one of the oldest department stores in the U.S., has every intention of appealing to the interests of these tech savvy consumers, now and in the future.

The next 30 years will be about appealing to the interest of consumers, in which mobile commerce will play a large roll.

If merchants want to please customers, they’ll need to stay on top of the latest trends, do what they can to predict the desires of consumers and satisfy them. According to Blake Nordstrom, the president of Nordstrom and the great-grandson of the company’s founder, John W. Nordstrom, although retailing will be different in the future, “there still will be customers who desire fresh new product. What that product is, how we satisfy the customer, that’s open.”

What will the future of retail look like? Nordstrom believes that aside from a more digital shopping experience that may include parametric technology that can provide consumers with a good idea of the way clothing may look and fit on their particular body type, without them having to try it on, current cash registers will no longer be around.

Instead, he says, “We see the future of point-of-sale as completely mobile.” Where the actual shopping takes place won’t matter so much as time goes on. Nordstrom believes that shoppers will use the most convenient platform to conduct their shopping. This will make it very important for mobile commerce to be implemented in-store.

Retail analysts foresee a big change in purpose for brick and mortar stores. Instead of their current role, they will provide a more sensory focused experience. Customers will physically interact with the items they are interested in purchasing, which they can buy remotely and have these products shipped.

Mobile commerce technology continues to be upgraded and developed and Nordstrom is ready to embrace a smartphone-friendly retail future.