Tag: mobile payments

Alibaba and Globals will be establishing an incubator to help mobile commerce and mobile Internet startups

China’s Alibaba will be establishing a startup incubator for mobile Internet and mobile commerce in Bangalore, India. The project will be set up in partnership with Globals, an Indian mobile and analytics solutions company. The two companies have taken note of the meteoric rise of digital commerce, a rapidly increasing number of consumers opting to use their mobile devices to shop for and purchase products online and in physical stores.

Alibaba continues to invest heavily in the mobile space in order to establish dominance in digital commerce

Alibaba has already invested quite heavily in both the electronic and mobile commerce sectors. The company is considered China’s largest online retailer organization and rivals both eBay and Amazon in the global market. Over the past few years, Alibaba has been focusing more of its attention on the mobile space, opting to support mobile projects and platforms that allow consumers to use their smartphones and tablets to shop online.

India is one of the world’s fastest growing mobile markets

India is often characterized as one of the world’s fastest growing mobile commerce markets. The expansion of the mobile Internet throughout the country has made it possible for more consumers to participate in mobile commerce. As consumers becoming increasingly mobile, more startups are beginning to emerge that aim to provide valuable services to these consumers. In order for these startups to become successful, however, they must have the appropriate financial support and, in some cases, access to experienced consulting services.

New incubator will provide support for mobile commerce startups in India

The incubator that Alibaba and Globals will set up is expected to be launched in May or June of this year. The incubator will provide startups with mentoring and financial aid, pairing companies with the appropriate financiers and consulting services that they need. The incubator could be a boon for the numerous mobile commerce startups that are beginning to emerge in India, which could bolster the overall mobile market of the country

The location based tech will help merchants to be able to better verify transactions over mobile devices.

Mobile geolocation technology services provider, the Zumigo Corporation, has now introduced a new and groundbreaking service that is meant to use smartphones to allow merchant payments to be validated in real time.

This service was also created to help to verify the identity and credit card credentials of a customer.

The purpose of this geolocation technology based service is to help in the prevention of fraud over e- and m-commerce. The official launch of the Zumigo Assure Payments mobile solution took place in Las Vegas, last week at the Mobile Risk Council (MRC) Vegas 2015 conference. There, the mobile payments security tech was described in detail to show merchants how this type of service can add to their security and reduce the losses that they could currently be experiencing.

Merchants face considerable expenses from losses due to fraud, but this geolocation technology seeks to overcome that.

The shape of the current system states that if the processors of the merchant confirm the authorization of a payment, then if the credit card credentials are later found to have been stolen, the merchants do not receive any protection against charge-backs. Should fraud occur and the purchased merchandise has already been shipped, then there is little to nothing that the merchant can do to be able to stop the recipient from receiving the goods and from the money from being charged back to the credit card. Therefore, the merchant faces a complete loss on that fraudulently purchased sale.

However with Zumigo, the idea is that merchants are provided with an additional verification and, therefore, protection layer against the use of stolen credit card credentials in order to purchase products and services.

This geolocation technology based system allows merchants to add additional verification for the transaction using information that has been supplied by the legitimate credit card owner (such as a mobile number, address, name, etc), so that fraudulent purchases can be prevented even before they have the chance to take place. Therefore, the loss doesn’t have the chance to occur and the merchant saves his or her money.