Tag: contactless payments

Gemalto and Worldline launch new mobile payments solution

| April 12, 2016

Gemalto and Worldline have teamed to launch a new payment solution to tap into the NFC market

Gemalto, a leading digital security firm, and Worldline, a transaction processing company, have announced the launch of a new mobile payments solution designed to tap into the growing NFC market. The number of NFC-enabled mobile devices has grown significantly over the past few years. With more consumers having access to these devices, new opportunities have emerged in the mobile commerce space. Gemalto and Worldline aim to tap into these new opportunities to find greater degrees of success with their mobile initiatives.

New platform will make use of tokenization technology to make transactions more secure

Worldline will be providing its tokenization service for the new payment solution. Tokenization involves replacing consumer financial information with digital tokens, which can be used to authenticate transactions. These digital tokens are unique every time they are generated, making consumer transactions more secure. Wordline will also be providing identity verification and other such services that will ensure that consumers are protected when they make use of the mobile payments solution.

Study predicts that digital transaction volume with reach $3.6 trillion this year

mobile payments - NFC techJuniper Research released study recently showing that the annual transaction volume of online, mobile, and contactless payments will reach $3.6 trillion by the end of this year. This is a 20% increase over the transaction volume that was reported in 2015. New payment services, such as those being launched by Gemalto and Worldline, have increased exposure to mobile payments, which consumers are finding to be quite convenient in their daily shopping habits.

Demand for mobile commerce support is placing pressure on banks

The new payment solution is focused on banks, which have been facing a major increase in the demand for mobile commerce support. These banks want to serve their customers in a more effective way, and with so many becoming reliant on mobile technology, banks are feeling pressure to adapt. These banks currently have a wide variety of mobile payments services that they can support, but they must ensure that these platforms are secure in order to meet the needs of consumers.

Mobile commerce is affecting global IT spending

| April 11, 2016

New report shows that spending in the IT sector has changed due to the rise of mobile payments

The growing adoption of smartphones and tablets has powered the evolution of commerce. More consumers than ever before are now involved in mobile commerce, the process through which smartphones and tablets are used to shop for and purchase products, both online and in physical stores. A new report from Technavio shows that the growth of mobile commerce has changed spending habits in the global information technology (IT) market. More organizations in this market are focusing their investments on new technologies that can make mobile payments more convenient.

Report shows that companies are investing more in mobile technology

According to the report, the growth of the mobile commerce market has spurred companies to invest more heavily in mobile technology, such as NFC and Bluetooth. More companies are investing in new IT solutions to enhance their technological capabilities and allow them to engage mobile consumers more effectively. These IT solutions may help companies keep pace with the rapidly evolving mobile space, where consumers are often considered quite fickle and difficult to connect with.

Better data may help companies connect with their mobile customers more effectively

Mobile Commerce SpendingCompanies interested in mobile commerce have begun to collaborate with companies like IBM and Oracle in order to better understand the needs of mobile consumers. These organizations are providing valuable analytical data that can help companies form better mobile services in the future. These companies are also beginning to invest more heavily in data security, which has been something that mobile consumers have been concerned with for several years.

Banks will be investing more aggressively in mobile commerce in the coming years

Technavio predicts that a substantial portion of the spending on mobile commerce solutions will come from the banking sector. Banks have been investing in digital solutions for years, hoping to provide mobile customers with the services that they need. With rising demand for mobile commerce support, many banks are beginning to feel pressure to adapt to a world that is becoming more mobile-centric.