Tag: mobile commerce security

SimplyTapp raises more funding for mobile payments security solutions

| December 4, 2014

Company has raised $5.9 million during recent round of funding

SimplyTapp, a provider of Host Card Emulation solutions for cloud-based mobile payments, has announced that it has raised $5.9 million during its Series B funding round. The company notes that several new investors have contributed to its future and existing investors, such as Blue Sky Capital, have continued to show their support. Thus far, SimplyApp has raised some $7.6 million in funding that will be used to further develop its cloud-based security solution for NFC-powered mobile payments.

Security continues to be a problem for the mobile sector

Security has become a major issue in the mobile commerce field. Mobile devices are beginning to traffic a large amount of financial information coming from consumers and some platforms may not be able to keep this information safe and secure. NFC technology has become a popular mobile commerce tool, allowing for the transmission of digital information over short distances. This technology is also a target for malicious groups that want to exploit this digital information. The demand for better security solutions in the mobile commerce field has been on the rise for some time and companies like SimplyTapp are looking to accommodate this need.

Cloud-based solution may help make mobile payments more secure

Funding for mobile payments security solutionsSimplyTapp’s cloud-based solution may help provide consumers and businesses participating in mobile commerce with some peace of mind. The system is designed to authorize transactions and confirm consumer information through a cloud network. This provides an extra layer of security when financial information is being accessed. SimplyTapp has opened up its platform to developers in order to enable them to design new applications and services that are more capable of keeping consumer information safe.

Security concerns do little to stop consumers from participating in mobile commerce

Security has become one of the most significant challenges facing mobile commerce currently. Cyber attacks in this sector are becoming more common, and the lack of effective security solutions is one of the reasons behind this problem. Despite security concerns, consumers have shown that they are quite enthusiastic about mobile payments, wanting to use their smartphones and tablets more often when purchasing products.

Survey highlights consumer attitude toward mobile payments

| December 1, 2014

Consumers are becoming more aware of mobile commerce and more likely to participate therein

Retale, a location-based shopping and marketing firm, has released the results of a recent survey it conducted in the United States. The survey found that consumer attitude regarding mobile payments has begun to shift. In the past, many people had been somewhat leery of mobile commerce, concerned that mobile platforms were not as secure as they often claimed to be. As people have become more exposed to mobile payments, however, they are growing more interested in the concept.

56% of consumers are willing to use their mobile device to pay for products they are shopping for

According to the survey, 56% of consumers noted that they would be willing to participate in mobile commerce to purchase a gift for others or something for themselves. A massive 91% of respondents noted that they had already made a mobile payment in order to purchase a product. Many consumers have mobile commerce on their mind relatively frequently. Some noted that they look for mobile payment support when they visit physical stores.

Consumers favor the convenience of mobile commerce

Mobile Payments SurveyConvenience is the main reason behind consumer interest in mobile payments. Approximately 58% of consumers said that they favor the convenience that mobile commerce offers over more traditional forms of commerce. Despite the benefits of mobile commerce, consumers still have concerns, especially when it comes to security.

Security issues remain the greatest barrier between consumers and mobile payments

The survey found that the greatest concern that consumers participating in mobile commerce have has to do with security. Recent high-profile cyber attacks on retailers have thrust the security issues that mobile commerce faces into the limelight. Many consumers have expressed their worry that their financial information is not safe when they are using a variety of mobile services. Others are concerned that mobile payment platforms can be accessed to easily if their smartphone or other device is stolen. Still others have expressed concerns regarding how difficult it is to keep track of their spending on some mobile platforms.