Tag: alibaba

Mobile payments security is gaining stream

| July 14, 2015

Organizations are showing more support for security solutions as they become involved in mobile payments

As organizations become more invested in mobile payments, they are also becoming more invested in security. Two topics have emerged in the mobile space that could have a major impact on the payments space: Biometrics and authentication. Authentication has long been an aspect of the commerce world that has been put to use for the sake of security, but biometrics is relatively new to this field. Biometric technology, in particular, could become the single most effective way to protect the financial information of consumers.

Biometrics are gaining prominence in the mobile space

Biometric technology makes use of biological information to secure a transaction and data. Fingerprints are one of the ways that this technology ensures that consumers remain safe. As this technology improves, however, fingerprints are no longer the only thing that can be used to secure a transaction. Alibaba, one of the largest e-commerce entities in the world, recently began testing a new feature for the Alipay platform, owned by Ant Financial, and affiliate of Alibaba, that is intended to make payments safer. The feature is called “Smile To Pay,” and makes use of facial recognition technology to authenticate a mobile payment.

MasterCard sees a promising future in facial recognition technology as well as tokenization

Mobile Payments and SecurityMasterCard is also becoming a major player in the improved security of mobile payments. The company has been promoting tokenization for some time, which involves converting financial information into unique digital tokens that can be used to approve transactions. MasterCard is also becoming more invested in facial recognition technology, suggesting that this technology may be the next step in the evolution of mobile security.

Security continues to grow as a priority as mobile payments gain momentum among consumers and businesses alike

Mobile payments have long been plagued by security concerns, and these concerns have introduced a wide variety of solutions, some of which have been more effective than others. With companies becoming more involved in the mobile payments space, advanced security solutions, such as biometrics, are beginning to gain more support.

Alibaba to invest more in India’s leading mobile commerce platform

| July 6, 2015

Mobile commerce investments continue to grow

Alibaba is on the verge of investing more in One97 Communications, which operates one of India’s most popular mobile payments platforms: Paytm. Alibaba has become one of the strongest names in the e-commerce sectors, especially when it comes to mobile shopping. The Chinese company has established a powerful position in the digital world, and it has also shown a great deal of interest in Indian mobile commerce organizations. India is one of the fastest growing mobile commerce markets in the world.

Paytm has established a strong position in India’s mobile commerce sector

Paytm has become a very powerful mobile commerce platform in India. Many consumers use the platform to shop and pay for products that they are interested in. The platform has made it easier for consumers to make mobile transactions, which has made it quite popular with those that rely heavily on smartphones and other devices. Alibaba has already invested in Paytm, but plans to pump another $600 million into One97 Communications in order to own a 40% stake in the company. This will also give Alibaba a 25% stake in Paytm.

Alibaba is working to develop a thriving mobile commerce ecosystem in India

Mobile Commerce - India Mobile PaymentsAlibaba has been investing in India’s mobile commerce space for some time. The company sees a great deal of promise in the country, as it is one of the fastest growing mobile markets in the world. Last month, Alibaba began playing a bigger role in the Paytm ecosystem. Paytm announced that more than 100,000 merchants from Alibaba’s Aliexpress platform would begin selling products in India via the Paytm platform. Alibaba is also working on promoting its own  mobile operating system and mobile devices in India and elsewhere.

Investments help mobile commerce flourish

Mobile commerce is likely to play a much stronger role in India’s retail space in the coming years. As firms like Paytm continue to attract strong support from Chinese companies, such as Alibaba, mobile commerce is expected to become more convenient for consumers, which would help accelerate adoption throughout the country.