Tag: mobile commerce security

HP expands its mobile payments initiatives

| November 18, 2014

HP is looking to bring more security to the mobile commerce space by updating its software offerings

Hewlett-Packard (HP) is looking to break into the mobile payments space. The company has announced the expansion of its cloud-based payment platform and chip-based payment cards. HP is making a security upgrade for its Atalla software, which is designed to help merchants protect consumer financial information. The HP Network Security Processor has also been upgraded to supper Apple Pay and new Visa payment services, such as PayWave.

Demand for secure mobile transactions is up among merchants and consumers

The mobile commerce space is quite crowded with a wide variety of mobile services. Many of these services have been having security problems, which has made mobile commerce somewhat risky for merchants and consumers alike. The demand for more security has been on the rise for some time and HP may be ideally positioned to help accommodate this demand. The company will be focusing more heavily on NFC-based transactions, as these transactions are becoming more attractive targets for malicious groups that want to exploit financial information.

HP expands partnership with Cryptomathic to make mobile payments more secure

Mobile Payments - HPHP notes that its software is able to facilitate secure cloud-based payments without the need for devices to have built-in security elements. This means that mobile transactions can be protected regardless of a mobile device’s security features. HP is expanding its partnership with Cryptomathic in order to make payments more secure than they have been in the past. This partnership will also bolster the security of NFC-based payment cards, with new card technology being introduced in 2015.

Security issues are constantly evolving and addressing new risks could be a difficult endeavor

The adoption of mobile commerce among consumers is accelerating at a rapid pace. As more people become involved in digital payments, the greater need for security solutions there is. HP is one company working to ensure that merchants can protect consumer financial information, but the mobile security space is constantly evolving and it may be difficult to account for all digital risks that are emerging therein.

Tokenization may help make mobile payments more secure

| October 23, 2014

Bell ID has launched its new tokenization platform in order to support mobile commerce security

Bell ID, a payment credential management organization, has launched new software that could introduce more security to the mobile payments space. Security has been a problem in the mobile world for several years now. While there are many effective security solutions currently available in the mobile world, relatively few of these have been able to offer consumers interested in mobile commerce with the protection they need. Tokenization may be the solution to this problem.

Digital tokens remove the need for financial information

Tokenization is a relatively simple concept that involves replacing personal financial information with digital “tokens.” These tokens are used to authenticate a transaction and then are deleted after they have served their purpose. This removes the need for retailers and other businesses to access or store a consumer’s financial information, allowing for more secure in the mobile payments sector. Bell ID’s new Tokenization Manager software may help boost the popularity of tokenization.

Tokenization Manager to help businesses use digital tokens as a way to verify transactions

mobile payments and securityThe company’s Tokenization Manager has already seen significant use by various NFC-based mobile payment solutions. The solutions use digital tokens as a replacement for credit and debit cards, as well as other financial information. Many organizations believe that digital tokens will mitigate the prevalence of large-scale cyber attacks, such as those recently targeting Target and Home Depot. These attacks seek to gather and exploit financial information, but malicious groups will not be able to use tokens in any way.

As mobile payments become more secure, consumers and businesses will become more likely to participate

Tokenization is becoming so popular that companies like Visa and MasterCard have begun to support the concept. Tokens could finally bring a high degree of security to mobile commerce, which has suffered over the years due to lackluster security support. As mobile commerce becomes more secure, a greater number of people and businesses are likely to enter the sector. Several companies have delayed their mobile plans due to security issues within the mobile space.