Tag: mobile payments

Mobile commerce may be in the cards for Facebook

| April 16, 2013

Mobile Commerce FacebookFacebook could be showing more enthusiasm for mobile commerce

It is no secret that Facebook is looking to appeal more heavily to mobile consumers. The social network has begun seeing its place as social media dominator slip over the past year as a growing number of tech-savvy and younger consumers begin to look elsewhere for their social networking fix. Facebook recently identified mobile as its future, but the social network’s exact plans therein are still somewhat vague. Mobile commerce, marketing, and mobile games may be part of the company’s plans to solidify its grip on the often fickle realm of social networking.

Facebook acquires Osmeta

Facebook has announced its acquisition of Osmeta, a software startup with a focus on the mobile sector. The acquisition comes on the heels of the launch of the Facebook Home application. The app serves as a sort of faux operating system, changing the way a smartphone’s interface looks and functions. The goal of the application is to make Facebook ever-present in the lives of mobile consumers by, quite literally, making the social network the first and last thing people see on their mobile devices.

Mobile plans are not yet clear

Exactly what Facebook plans to do with Osmeta is not clear. Osmeta notes that it has been working on a large project for some time, but details concerning this project are equally unclear. The company currently accounts for 19 software engineers from varied backgrounds. There is speculation suggesting that Facebook has plans for a new mobile commerce application or mobile commerce features that will be incorporated into the Home application. Facebook has shown some interest in mobile commerce in the past and has even recently begun charging for certain services it used to offer for free; services that mobile consumers must pay for if they want to use them.

Facebook may eventually address mobile commerce

Like other social networks, Facebook is currently at a crossroad. The social network is becoming increasingly enthusiastic about the concept of monetization, while it is also facing strong feedback from its users who want to see the social network remain a free platform. Whichever path it chooses, the company will remain focused on the mobile space, which will eventually bring Facebook to confront the prospects of mobile commerce more aggressively.

Intel and UnionPay team to take on mobile payments

| April 16, 2013

Mobile Payments partnershipIntel and UnionPay to develop new mobile payments platform

Intel has announced a new collaboration with China UnionPay, the only domestic bank card organization in China. The two companies will work together to create a new, secure platform for mobile payments. China has become a hub for mobile technology and many consumers are beginning to show strong favor for mobile commerce. In order to accommodate the needs of consumers, UnionPay has begun to take the issue of mobile payments more seriously.

Intel to leverage its security technology for new platform

Security is one of the major challenges that continues to serve as a roadblock to the widespread adoption of mobile payments. Mobile devices are beginning to traffic a significant amount of valuable financial information. This information has become a very attractive target for hackers and malicious groups looking to exploit this information. To address the security problem, Intel leveraging its Identity Protection Technology for the new mobile payments platform. UnionPay accounts for 3.5 billion bank cards, which are accepted in at least 141 countries around the world. Providing these consumers with a secure way to engage in mobile commerce may help mobile payments finally attain the momentum needed to begin replacing more conventional forms of commerce.

UnionPay showcases NFC-based mobile commerce service

UnionPay has also begun showing off its Quick Pass service, which in a mobile commerce service that makes use of NFC technology. More than 1.1 million NFC-enabled point-of-sale terminals were installed in December of 2012 in order to serve as an infrastructure for the Quick Pass service. This service is meant to perform alongside the mobile payments platform that Intel and UnionPay are currently developing.

Mobile commerce continues to find success in Aisa

Mobile commerce has found a great deal of traction in the Asian market. With mobile technology penetration high in many sectors of the market, mobile commerce has been able to establish a strong foothold in several countries. There are, of course, security concerns regarding the widespread adoption of mobile commerce, but companies like Intel and UnionPay are working to put these concerns to rest through the establishment of adequate security systems that will protect a consumer’s financial information.