mobile commerce Archives ⋆ Page 34 of 679 ⋆ Mobile Commerce Press

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Amazon to allow shoppers to take a selfie to make mobile payments

Dan Gendro | March 18, 2016

Amazing files new patent application for facial recognition technology service

Amazon is making another move in the mobile payments space. The e-commerce company has filed a patent application for technology that will allow mobile shoppers to authenticate transactions using a photo or video of themselves. This would replace passwords, which have long been a staple in mobile transactions. Amazon believes that using facial recognition technology will make mobile commerce more secure, thereby making consumers more comfortable with the concept of using their mobile devices to make purchases.

MasterCard is also launching a service leveraging facial recognition technology

Using facial recognition technology to authenticate mobile payments is not a new idea. MasterCard is rolling out a similar system in the coming months. The service will be initially launched in the United States and several countries throughout Europe. If successful, it may be expanded into new markets. MasterCard’s service requires users to blink into the camera of their mobile device before a transaction is completed.

Biometric technology may make mobile commerce more secure

Mobile Payments - Selfie Biometric technology is becoming very important for the mobile commerce space. This technology leverages biological information, such as a fingerprint, to authenticate a payment. Companies involved in the mobile commerce space are beginning to use this technology to make mobile transactions more secure. Using facial recognition technology is meant to have the same effect, as this technology can and has been used to make mobile devices more secure than they are currently.

Digital risks are becoming more apparent in the mobile commerce market, but companies are fighting back

The mobile payments field is growing quickly, but security remains one of the biggest concerns that consumers have. Mobile commerce deals in the transmission of financial information, and this information is very attractive to malicious groups. As such, they are targeting the mobile commerce space for personal gain. Companies like Amazon, however, are beginning to use new technology to fight against digital threats. This technology may help make the mobile commerce sector more secure and ensure that consumers use their mobile devices to make purchases in the future.

Paytm seeks to expand mobile payments to more offline merchants

Stephen | March 17, 2016

Paytm will be working to expand its offline merchant network this year

Mobile payments firm Paytm is looking to expand its offline merchant base in India. The company intends to establish a stronger presence among physical stores in an effort to help merchants connect with the growing number of consumers that are beginning to use their mobile devices to purchase products. Vijay Shekhar Sharma, CEO of Paytm, notes that the company will be present offline “in every nook and corner.” Paytm has already established a considerable foothold in the digital commerce space and has become quite popular with online retailers.

Company intends to add 4 million offline merchants to its network by the end of 2016

Paytm intends to sign up 4 million offline merchants for its service by the end of this year. Currently, the company’s offline merchant network includes various small retailers as well as larger organizations such as More, a goods and grocery retailer. Paytm also includes Indian Oil among its clients and consumers can use their mobile devices to pay for petroleum at gas stations in many parts of the countries.

Paytm processes 3.5 million transactions every month

mobile payments - Point-of-sale System Retailers using Paytm are given a sticker that they can place next to point-of-sale systems. Using a mobile devices, shoppers can scan this sticker in order to make a payment for products that they are purchasing. Paytm currently processes some 3.5 million transactions every month, totally approximately $8.5 million. The company predicts that the mobile payments being made at physical stores will grow significantly this year, with Paytm processing a predicted 35 million transactions a month by the beginning of 2017.

Consumers are becoming more interested in mobile commerce

India has become a very active mobile commerce market. Several retailers are beginning to focus more heavily on the mobile space as consumers become more reliant on their smartphones and tablets. These consumers see mobile shopping as convenient, as they can use their devices to shop for products wherever they are. As more retailers begin accepting mobile payments in physical stores, consumers are beginning to use their smartphones rather than conventional forms of commerce to pay for products that they are interested in.