Crowd Mobile announces its acquisition of Track Holdings
Crowd Mobile, a company operating within the mobile space, has announced the successful acquisition of Track Holdings, a leading mobile payments specialist based in the Netherlands. Through the acquisition, Crowd Mobile seeks to accelerate product launches and improve its promotional campaigns in markets throughout Europe. Crowd Mobile have been involved in the mobile payments space for some time and has been working with several companies in order to establish a stronger position in the mobile space as a whole.
Mobile commerce continues to expand throughout the European market
Europe has become a major mobile commerce market, with many consumers relying more heavily on their mobile devices to shop online for products and services. Retailers throughout Europe have begun to rely on the mobile space in order to effectively engage consumers and some are even beginning to support mobile payments in their physical stores. Over the coming years, mobile payments are expected to become much more prolific throughout Europe, especially in countries where smartphone penetration is high.
Track Holdings has managed to find success in the mobile payments sector
Track Holdings has proven to be a profitable mobile commerce business, which may be a boon for Crowd Mobile. The fact that Track’s mobile commerce platform is profitable, it may be able to provide Crowd Mobile with strong revenue growth. It may also allow Crowd Mobile to better engage a wider range of consumers, many of whom have been looking for access to a mobile payments platforms that suit their interests and needs.
Acquisitions continues to become more common in the mobile payments space
Mobile payments continue to expand throughout the world and acquisitions are becoming more common within this sector. Several companies are looking to acquire those that have shown that their mobile commerce platforms are successful. Such acquisitions are expected to lead to vast improvements in the mobile payments space. Large organizations competing with one another is expected to bring about the use of new technology that makes mobile commerce more secure as well.
Mobile payments may be growing more secure in Europe thanks to new partnership
Samsung has partnered with Gemalto, an international digital security company, in order to ease the launch of Samsung Pay in Europe. With mobile payments growing in popularity, the demand for secure services is on the rise. Consumers have expressed concern regarding the security of mobile transactions, with many opting not to use their devices to make purchases because their financial information may be at risk of exploitation. Improved security may make mobile payments services more attractive to consumers.
Samsung will leverage tokenization to make transactions more secure
Samsung will be using Gemalto’s Allynis Trusted Service Hub product for its new service. This will allow payments made through Samsung Pay to be more secure as the Allynis Trusted Service Hub makes use of a system that manages payment credentials and it leverages tokenization services. Tokenization replaces a consumer’s financial information with digital tokens, which are used to authenticate payments. Each token is unique for the transaction and does not contain actual financial information. As such, these tokens represent a safe and secure way for consumers to participate in mobile payments.
Mobile payments service has already attracted praise
The new mobile payments service has already launched in South Korea, and Samsung intends to launch the service in the United States in late September. Thus far, consumers have shown interest in the service and have praised its convenience. Samsung Pay makes use of NFC technology and magnetic secure transmissions, allowing it to be used in many major retail stores. The technology powering the service was developed by LoopPay, which was acquired by Samsung earlier this year.
Improved security may ensure that more consumers participate in mobile commerce
Improving security will help mobile payments find more support among consumers. While consumers are interested in using their mobile devices to make purchases, they are wary of doing so because of the security risks associated with such actions. In the past, security breaches have shown just how much of a financial impact malicious attacks can have on consumers and businesses when it comes to the mobile payments space.
