The developing world has been boosting its speeds and improving the experience for smartphone users.
According to the results of a recent study conducted by the GSMA, the number of global 4G mobile broadband connections has now reached the point that it has broken the 1 billion mark, for the first time.
In fact, the GSMA is now predicting that, by the year 2020, 4G will represent one in three mobile connections.
The results of the study were shared within this year’s global edition of the “Mobile Economy” report series from the GSMA. It suggested that there is currently a rapid change in technology as 3G mobile broadband shifts in favor of 4G networks. Moreover, it pointed out that this trend is occurring in both developed and developing economies. The outcome is that there is a greater drive in smartphone adoption, digital innovation, and in the growth of mobile data.
The report indicate that 2015 saw mobile broadband growth and acceleration that was unprecedented.
Data from the study suggested that the world economy saw a $3.1 trillion shot in the arm from the mobile industry. This indicates that the share of the global GDP representing that industry is a massive 4.2 percent.
By the close of last year, 4G was behind more than one billion of the total 7.3 billion mobile connections. In fact, that figure means that there was a doubling of the number of 4G connections that were made, last year, greatly because of the expansion of mobile networks at this level, within developing economies. By the time 2015 came to an end, there were 151 different countries with a total of 451 live LTE networks.
According to the GSMA director general, Mats Granryd, “Our new report reveals that mobile broadband is now a truly global phenomenon, extending high-speed connectivity and services to citizens in all corners of the world.” He went on to say that last year’s growth in mobile technology connections was greater than it had ever been, before and was a “testament to the billions of dollars that mobile operators have invested in next-generation networks, services and spectrum in recent years.”
MasterCard is bringing its Selfie Pay system to the UK
MasterCard has announced plans to invest in facial recognition technology more aggressively in the coming years. This announcement comes as MasterCard attempts to reduce the number of false transactions that occur within the mobile space, as well as improving the security of mobile payments overall. The company has been testing its new “Selfie Pay” system in the United States and the Netherlands and will soon bring the service to the United Kingdom, though consumers will have to pay to use it.
Selfie Pay will allow people to use their pictures as a way to verify a mobile transaction
Those using the Selfie Pay system can opt to scan a picture of their face to verify mobile transactions. This picture will be stored online on MasterCard’s servers. The picture will serve as a reference for when consumers want to use facial recognition to authenticate a transaction. Because this information is difficult to tamper with, MasterCard believes that facial recognition technology could be an adequate way to protect consumer information in the mobile commerce space.
Mobile security remains a top priority for MasterCard
MasterCard has been fighting to improve mobile security for some time. The company believes that new identification systems are needed to minimize the number of fraudulent transactions being made in the mobile space. False declines are also a problem, with MasterCard noting that the value of false declines per year has reached $118 billion. This is 13 times higher than the amount lost through credit card fraud every year.
Selfie Pay system is coming to 14 countries later this year
MasterCard is preparing to launch its Selfie Pay system in 14 countries later in the year. The company notes that those testing the system have responded positively, saying that it is both easy to use and does not affect the convenience of mobile payments. With more secure systems in place, more consumers are likely to participate in the mobile commerce space. Security has been a major concern for consumers in recent years, especially as mobile commerce systems have become more prominent and attractive targets.
Data from the study suggested that the world economy saw a $3.1 trillion shot in the arm from the mobile industry. This indicates that the share of the global GDP representing that industry is a massive 4.2 percent.