Tag: mobile commerce news

Big Bazaar teams with one of India’s largest mobile payments companies

| July 15, 2015

Big Bazaar and MobiKwik enter into ambitious partnership

Big Bazaar, one of the largest per market chains in India, has partnered with MobiKwik, a mobile wallet platform, in order to better engage mobile consumers. Together, the two organization intend to further expose consumers to the concept of mobile payments, which are becoming more common within India’s retail space. The demand for mobile payments support in physical stores is on the rise, as paying for products with a smartphone is seen as a more convenient way to make purchases.

MobiKwik to support mobile payments made in the retail sector throughout India

Now, those with a MobiKwik wallet will be able to use the platform to make a payment at Big Bazaar payment counters. There are now 240 Big Bazaar stores that support these transactions throughout the country. The partnership with Big Bazaar represents MobiKwik’s continued interest in expanding into the offline market. MobiKwik has come to hold a prominent position in the e-commerce space, but believes that the offline market is poised to experience healthy growth in the coming years. As such, the organization intends to support mobile payments being made in physical stores.

Future Group will begin embracing mobile commerce more aggressively

Mobile Payments - PartnershipThe partnership between the two companies will extend to other entities that are part of Future Group, the organization that owns Big Bazaar. Other retailers will be able to support MobiKwik payments in the coming years, allowing more consumers to rely on their smartphones to shop for and purchase products that they may be interested in.

Partnerships are becoming more common in India’s mobile payments market

The partnership between Big Bazaar and MobiKwik is one of many that have taken form in India in recent years. Many of these partnerships are focused on the expansion of mobile payments, as India represents one of the most promising mobile markets in the world currently. These partnerships are expected to become more common as mobile commerce continues to gain support from consumers that enjoy shopping and paying for products on their mobile devices.

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.