Author: Stephen

CIBC Mobile Payment App launched in Canada

| November 5, 2012

 

CIBC Mobile Payment App breathes life into Canadian mobile commerce

Rogers Communication, one of the largNFC Technology for mobile payment industryest communications companies in Canada, has teamed with the Canadian Imperial Bank of Commerce (CIBC) to introduce a new mobile commerce platform to consumers in Canada. Early this month, the two parties revealed the new CIBC Mobile Payment App, which can be used to make purchases for goods and services. The first payment using the new mobile wallet was made by Olympic gold medalist Simon Whitfield, who purchased a coffee at a Tim Hortons shop.

Mobile commerce beginning to gain ground in Canada

The CIBC Mobile Payment App is meant to expand mobile commerce throughout Canada. Consumers have been growing more interested in the concept of making payments for goods and services using nothing more than their mobile device. As such, the CIBC has been growing more accommodating to this demand, looking for ways to enable consumers to do what they want. In teaming with Rogers, the CIBC has taken the first step toward making mobile commerce a larger part of the Canadian economy.

App available only to those with NFC-enabled devices

As with other applications of this kind, the CIBC Mobile Payment App can only be used with smart phones and other mobile devices that are equipped with NFC technology. This immediately reduces the reach of the platform to a niche market. The availability of NFC-enabled devices is currently low, with the recently released Samsung Galaxy S III being the most popular of these devices currently on the market. Telecommunications companies have been working to boost the availability of NFC-enabled devices, but consumers have yet to show their full support of NFC technology.

Consumers leery of NFC technology

Many consumers are supportive of the concept of mobile commerce, but NFC technology has had a less welcoming reception. Concerns regarding the security of NFC technology have made consumers leery and disinclined to support its use in mobile commerce. If the CIBC and Rogers can deliver a pleasurable experience with the CIBC Mobile Payment App, the duo may be able to placate some of these concerns and get consumers to accept NFC technology.

Monet teams with IBM to boost mobile commerce in Pakistan

| November 3, 2012

 

Monet chooses IBM for new cloud-based system

Technology giant IBM has aIBM mobile commercennounced that Monet, a leading mobile commerce provider in Pakistan, has begun using its cloud-based solution to provide enhanced service to consumers. Mobile commerce is growing in the Middle East and Monet has positioned itself to become one of the leading platforms currently available to consumers. As mobile commerce becomes more popular, Monet is working to make payments more secure and placate some of the concerns coming from consumers.

Cloud-based system may help expand mobile commerce in Pakistan

Monet plans to use IBM’s cloud-based system to expand its presence throughout Pakistan. The company already caters to numerous mobile banking networks and branchless financial institutions, all of which consider the security of consumers’ financial information as a major priority. Mobile banking is becoming more popular in Pakistan, thus becoming a more attractive target for hackers and other parties with malicious intent. In order to meet the changing needs of its customers, Monet has turned to IBM.

IBM to develop private system based on SmartCloud technology

IBM will be developing a specialized system for Monet based on its SmartCloud technology. This cloud-based system will provide Monet with a more comprehensive mobile infrastructure, which is well suited to meeting the growing demand for mobile financial services, such as banking and commerce. Monet will not simply be relying on IBM to provide it with a new cloud-based infrastructure, Monet is also outsourcing its networking, security, cryptographic, and disaster recovery solutions to IBM. This will allow Monet to focus on the core of its business structure.

Pakistan consumers begin to show more interest in mobile commerce

Mobile commerce is often thought of in terms of payments. The term refers to a wide range of practices in the financial world, however, including banking. As more consumers in Pakistan acquire mobile devices capable of giving them access to high-tech financial solutions, banks and other financial institutions are demanding new comprehensive services that enable them to better serve their customers. Monet and IBM may be able to provide such service and solidify the growth of mobile commerce in Pakistan.