Tag: apple mobile payments

Mobile payments security may bring Visa and Apple together

| August 6, 2014

Security is becoming a major issue for the mobile shopping spectrum

Security is currently one of the greatest challenges facing mobile payments adoption. Many payment platforms have lackluster security features that could leave a consumer’s financial information exposed for exploitation. This has made many people somewhat leery of the mobile shopping and payments space, unwilling to use their mobile devices to purchase products online. Visa is working to solve this problem, however, and has recently announced new products that could improve security in the mobile space and make people more comfortable with paying for products from their mobile devices.

Visa is taking security seriously, introducing a new suite designed to keep mobile transactions secure

Visa recently announced its Visa Digital Solutions, which is a comprehensive software suite that is designed specifically for making mobile payments secure. The suite is meant to provide a set of standards, tools, and services to those wishing to accommodate mobile spenders, enabling retailers and smartphone makers to connect with Visa’s payment infrastructure quickly and efficiently. The solution is designed with security in mind, and that may be a good thing for companies like Apple.

Apple is in need of a security solution that can solidify its place in the mobile payments field

Mobile Payments Security - Apple and VisaApple has a strong interest in mobile payments, but the company has been very slow to introduce its own payment platform. This is largely due to the security concerns that Apple has, having seen other companies launch payment platforms that have been subject to digital attacks. Apple has been looking into developing its own security systems that can protect mobile transactions, but Visa’s new solution could encourage a partnership between the two companies.

Apple and Visa have not yet announced any plans to work together in mobile transactions

Apple has teamed with other companies to address the security issue in the past. These partnerships have lead to the development of security solutions that may make mobile payments more attractive to consumers. A partnership between Apple and Visa may yield yet more protections for consumers interested in shopping online with a mobile device. Such a partnership has not been announced, however.

Mobile payments platform from Apple may be coming soon

| July 28, 2014

Company may be preparing to launch its own payments platform in fall this year

Apple may be preparing to launch its own mobile payments platform alongside the iPhone 6 this fall. The company has been meeting with various prominent payment organizations that have ties to the mobile world and rumors are beginning to circulate regarding Apple’s plans for mobile shopping and a new era of commerce. The company has already been testing a type of mobile payments service in Japan through its iTunes and app stores.

Apple approaches digital commerce with caution because of security concerns

Apple has been slow to enter into the digital commerce space, largely due to concerns regarding security and the lack of technology capable of meeting the company’s high standards. There had been rumors suggesting that the iPhone 5 would be Apple’s entry into the mobile payments space, but this was not the case. The company had opted not to make use of NFC technology, which had been the primary technology through which mobile transactions were made. This technology is now losing ground as the commerce world begins to evolve.

Company forms partnerships to tackle challenges in a changing field of commerce

mobile payments - AppleApple has been partnering with various organizations to develop a better understanding of mobile payments. The company has also been taking mobile security much more seriously. The iPhone 6 will have a more robust biosensor, allowing people to use their fingerprint as a form of identification. This sensor is likely to be incorporated into Apple’s mobile payments venture, as it will add another layer of security to transactions and help keep consumer financial information safe.

Demand for mobile payment support is high among iOS users

There has yet to be any definitive announcement of Apple’s mobile payments plans, but the company has shown strong interest in offering its customers a way to pay for goods and services using little more than a mobile device. Many iOS users have been calling for mobile payment support for some time, praising companies like Google for introducing services  that support mobile shopping on Android devices.