Author: Stephen

SimplyTapp raises more funding for mobile payments security solutions

| December 4, 2014

Company has raised $5.9 million during recent round of funding

SimplyTapp, a provider of Host Card Emulation solutions for cloud-based mobile payments, has announced that it has raised $5.9 million during its Series B funding round. The company notes that several new investors have contributed to its future and existing investors, such as Blue Sky Capital, have continued to show their support. Thus far, SimplyApp has raised some $7.6 million in funding that will be used to further develop its cloud-based security solution for NFC-powered mobile payments.

Security continues to be a problem for the mobile sector

Security has become a major issue in the mobile commerce field. Mobile devices are beginning to traffic a large amount of financial information coming from consumers and some platforms may not be able to keep this information safe and secure. NFC technology has become a popular mobile commerce tool, allowing for the transmission of digital information over short distances. This technology is also a target for malicious groups that want to exploit this digital information. The demand for better security solutions in the mobile commerce field has been on the rise for some time and companies like SimplyTapp are looking to accommodate this need.

Cloud-based solution may help make mobile payments more secure

Funding for mobile payments security solutionsSimplyTapp’s cloud-based solution may help provide consumers and businesses participating in mobile commerce with some peace of mind. The system is designed to authorize transactions and confirm consumer information through a cloud network. This provides an extra layer of security when financial information is being accessed. SimplyTapp has opened up its platform to developers in order to enable them to design new applications and services that are more capable of keeping consumer information safe.

Security concerns do little to stop consumers from participating in mobile commerce

Security has become one of the most significant challenges facing mobile commerce currently. Cyber attacks in this sector are becoming more common, and the lack of effective security solutions is one of the reasons behind this problem. Despite security concerns, consumers have shown that they are quite enthusiastic about mobile payments, wanting to use their smartphones and tablets more often when purchasing products.

China’s UnionPay to launch new mobile payments service

| December 2, 2014

Competition is heating up in the mobile commerce field as large companies launch their own payment services

Competition among large companies participating in the mobile commerce field is heating up. Apple has delivered a strong blow to its competitors by entering into the field with its own mobile payments service, called Apple Pay. The service has a veritable armada of retailers supporting it and has also helped many consumers participate in mobile commerce. The service has also had an unintended effect, as Apple competitors have reported that they have seen a dramatic increase in mobile payments made through their own services since Apple Pay was launched.

UnionPay announces plans to launch new payment service called Android Pay

Apple Pay may soon have a very powerful competitor that aims to establish dominance in the burgeoning Asian market. China’s UnionPay, the largest financial service institution in the region, has announced that it will be launching its own mobile payment service, based on the Android operating system. The service, simply called Android Pay, us expected to significantly increase mobile commerce adoption throughout China.

New payment service is expected to use NFC technology to facilitate transactions

Mobile Payments launched in ChinaAndroid pay is expected to make use of NFC technology. If this is the case, UnionPay is likely to subsidize the cost of NFC-enabled SIM cards or other solutions, allowing consumers to make use of the service even if their mobile device does not have NFC capabilities of its own. The new platforms security features are still unknown, but it may be difficult for the Android platform to compete with Apple’s use of biometric technology to keep consumer information safe.

China continues to grow as a prominent mobile commerce market

China has become one of the most attractive and active mobile commerce markets in the world. Large retail groups, such as Alibaba, have been promoting mobile shopping among consumers for some time now and Chinese consumers have shown that they are willing to embrace mobile commerce. UnionPay may find significant success with its new mobile payments venture, if it can find a way to ensure the security of consumer information.