Tag: mobile commerce news

Micromax launches new mobile commerce solution with Visa and TranServ

| April 13, 2016

Device maker partners with Visa and TranServ to launch new mobile wallet

Micromax, a developer of mobile devices, has partnered with Visa and TranServ to push mobile commerce among consumers. The company will be integrating a new mobile wallet, which will be powered by solutions designed by Visa and TranServ. The new wallet will allow consumers to use their smartphones to make payments online and in physical stores. Micromax has begun to focus heavily on mobile payments in order to ensure that its overall service strategy is beneficial for consumers.

Payments are now very important for companies in the mobile space

According to Micromax, payments have become a very important part of the mobile space. The demand for mobile payment support has grown significantly among consumers. If companies cannot offer such support, they may risk falling behind their competitors that are launching new services to consumers. Through its partnership with Visa and TranServ, Micromax believes that it will be able to provide consumers with a unique service that will be well received and capable of meeting the needs of its customers.

Mobile wallet will allow consumers to pay for products with their mobile devices

New Mobile Commerce Solution LaunchedMicromax customers using the new mobile wallet can pay for products using their mVisa cards to make payments. Currently, the majority of these transactions are likely to be made online, as relatively few retailers have invested in the technology needed to support mobile payments in physical stores. IN the future, this is likely to change due to the increasingly important role that mobile commerce is playing in the retail space.

Micromax will have to ensure the security and convenience of its mobile wallet in order to find success

The mobile wallet from Micromax may be well received among consumers if the service proves to be secure and convenient. With the aid of Visa, security may not be an issue due to the company’s tokenization technology. This replaces consumer financial information with digital tokens that can be used to authorize a payment. Ensuring that the mobile wallet is easy to use will be one of Micromax’s major priorities if it wants to find success in the mobile commerce space.

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.