Author: JT

New security mandates could improve the e-commerce space

| April 10, 2015

PCI Security Standards Council releases new security mandates that e-commerce enterprises must follow

E-commerce enterprises could be penalized if they do not abandon their outdated security protocols. The PCI Security Standards Council has released mandates that businesses must follow, requiring retailers to move away from Secure Sockets Layer (SSL) and embrace Transport Layer Security (TLS) protocols. SSL is a standard security technology that establishes an encrypted connection between a server and those accessing it, but this technology is beginning to grow outdated, especially as cyber attacks become more sophisticated.

Digital attacks are becoming a major threat for the e-commerce world

The PCI Security Standards Council has introduced new security mandates as a response to recent, high-profile digital threats, such as Heartbleed and Shellshock. These threats have caused significant turmoil in the digital space, and e-commerce enterprises may be exposed to risks that have yet to be detected. The organization is now urging e-commerce companies to make changes to their web servers so that they are compatible with TLS protocols. These companies are also being tasked with abandoning SSL support.

Security standards may have an impact on the mobile commerce space as well

Security - e-commerce and mobile commerceThese new security mandates will also affect the mobile commerce space. The mobile space has become a valuable target for malicious groups that aim to exploit financial information. Commerce applications are still relatively new, and the companies responsible for these apps are not yet versed in the various risks that exist in the digital space. As such, many apps lack the security they need to find mainstream success and adoption. New security standards could help solve this problem, offering consumers peace of mind when they participate in mobile commerce.

Many companies are still not fully compliant with security standards from the PCI Security Standards Council

Notably, many companies still fail to comply with security mandates issued by the PCI Security Standards Council. According to a recent survey from Verizon, 28% of companies are not fully compliant with security standards nearly a year after they received validation for their security protocols. This could become problematic, as these companies may be unnecessarily exposing themselves to digital risks.

New mobile commerce incubator to be set up in India this year

| April 6, 2015

Alibaba and Globals will be establishing an incubator to help mobile commerce and mobile Internet startups

China’s Alibaba will be establishing a startup incubator for mobile Internet and mobile commerce in Bangalore, India. The project will be set up in partnership with Globals, an Indian mobile and analytics solutions company. The two companies have taken note of the meteoric rise of digital commerce, a rapidly increasing number of consumers opting to use their mobile devices to shop for and purchase products online and in physical stores.

Alibaba continues to invest heavily in the mobile space in order to establish dominance in digital commerce

Alibaba has already invested quite heavily in both the electronic and mobile commerce sectors. The company is considered China’s largest online retailer organization and rivals both eBay and Amazon in the global market. Over the past few years, Alibaba has been focusing more of its attention on the mobile space, opting to support mobile projects and platforms that allow consumers to use their smartphones and tablets to shop online.

India is one of the world’s fastest growing mobile markets

Mobile Commerce in IndiaIndia is often characterized as one of the world’s fastest growing mobile commerce markets. The expansion of the mobile Internet throughout the country has made it possible for more consumers to participate in mobile commerce. As consumers becoming increasingly mobile, more startups are beginning to emerge that aim to provide valuable services to these consumers. In order for these startups to become successful, however, they must have the appropriate financial support and, in some cases, access to experienced consulting services.

New incubator will provide support for mobile commerce startups in India

The incubator that Alibaba and Globals will set up is expected to be launched in May or June of this year. The incubator will provide startups with mentoring and financial aid, pairing companies with the appropriate financiers and consulting services that they need. The incubator could be a boon for the numerous mobile commerce startups that are beginning to emerge in India, which could bolster the overall mobile market of the country