Documents hint at “Amazon Card Reader”
It is no secret that Amazon plans to launch its own smartphone in the future and connect with its customers in a more dynamic fashion, but the company may also be working on its own mobile commerce device. Recent documents from office supply retailer Staples have hinted at the existence of the “Amazon Card Reader.” This small device may have the ability to read the financial information that is stored on credit cards, using this information to allow people to pay for products with their mobile devices.
The device could be similar to a card reader developed by mobile payments processor Square
Rumors suggest that Amazon’s mobile commerce device could be very similar to that offered by Square. Square is one of the largest and most successful mobile payments processors in North America, and much of the company’s success is based on its small, square gadget that can be plugged into a mobile device. When connected to a smartphone or tablet, the device is able to read credit card information. This device is often used by retailers, like Starbucks, to process mobile payments.
Amazon has been working to establish a stronger mobile presence for some time
Amazon has a keen interest in the mobile space. The company has been keeping track of the growing popularity of mobile commerce for some time and has seen how consumers favor its convenience. The Amazon Fire smartphone is meant to serve as a way for the company to obtain a deeper understanding of how the mobile market functions and see what consumers actually want. The card reader that the company may be developing is meant to take advantage of the growing popularity of mobile commerce.
Amazon Wallet shows how hard the company is trying to get into the mobile space
Amazon recently released the Amazon Wallet, which functions as a digital replacement for a traditional wallet. The platform is able to store a wealth of information on a mobile device, making this information easily accessible to users. The mobile wallet and Amazon’s potential mobile commerce device may show that the company has adopted a very mobile-centric view of the future.
The Australian bank is the first bank in New Zealand to try out Host Card Emulation (HCE) m-payments.
According to Westpac, it is utilizing Carta Worldwide’s HCE technology for its three month NFC-enabled mobile payments trial in New Zealand, and the payments systems is compatible exclusively with Android smartphones equipped with the most recent software updates.
Westpac hopes to launch a digital wallet in the country.
Shane Howell, the chief product officer of Westpac said that the trial is the initial steps toward a fully digital wallet in the country and that they expect their mobile wallet will be available to customers in early 2015.
Howell stated that “We already use our smartphones to organize so many aspects of our lives, so using them to make payments is just a natural extension of this.” He added that the three month test is only the “first of four key components we are looking to develop that will make up a digital wallet for Westpac customers.”
He explained that there are additional components that the financial institution is considering incorporating into its digital wallet, such as loyalty programs and public transit transport cards. It is even considering a form of ID, such as a driver’s license. Howell said that what Westpac is working toward achieving is a “true digital wallet experience” that is easy for customers to use and that is safe.
Mobile payments security is an essential feature of the digital wallet.
Westpac developed the mobile wallet in a partnership it made with Carta Worldwide, a company known for global payments innovation. The Australian bank has said that for its digital wallet, security is key.
Rui Mendes, Carta’s chief technology officer said that with Carta’s advanced and layered security, every single mobile transaction that is made is protected. HCE allows for secure mobile transactions that are compatible with contactless terminals. The company’s cloud-based solution is equally as secure as using plastic cards because of its data security advancements and its app features, such as mobile PIN.
The three month mobile payments trial involves a selection of 40 Westpac customers and employees across New Zealand.
